Singapore: Good Policies, Great Business

8 May

Much of the credit for Singapore’s impressive reputation as an international business hub goes to political stability in the country though its free trade agreements with a number of countries and its taxation policies that save tax for businessmen avoiding double taxation have also helped a great deal in luring business class to this tiny country. Singapore is consistently ranked at the top in the list of corruption free countries makes it all the more alluring for businessmen of all hues from all parts of the world.
It is easy to start a business in Singapore but before that there are some formalities like registration that need to be completed. One agency that administers registrations of business in the country is Accounting and Corporate Regulatory Authority (ACRA). But what makes this country efficient is that a businessman need not frequent the office to get his applications passed as the entire process is completed online. Once the applicant has paid the registration fee and name approval fee, the business is normally given approval if all other information is found to be true. Once the business has been registered, ACRA hands over a one stop shop in the form of Inland Revenue Authority of Singapore to a businessman as this agency can integrate the services of multiple agencies. All formalities that you are needed to complete can be forwarded through ARAS.

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