The idea of change and intense desire to build something new and inspirational is the qualities of an entrepreneur. But it is important to find out the ways for plan execution, which is quite difficult. Turning vision into reality is execution, and corporate is the vital vehicle in this process. For a successful venture, an entrepreneur must ensure the proper work of the entity.
Incorporate Early is good! Why?
Once you decide your plans for Timcole Singapore incorporation without any delay just start the process of incorporation as soon as possible. All you need to do is:
Protection of a Name – If you going for early incorporation, then you can secure a name for your company. When you are done with the process of incorporation you can proceed by registering your name as a trademark.
Necessary legal agreements – Legal agreements of business are important to run the business without any hustle-bustle such as the commercial space for the office.
Ownership of the property – If you have no legal ownership of the property, then it might create future disputes in the smooth running of your business. You can avoid these disputes with the proper intellectual company ownership agreements. Otherwise, there are chances you will be claimed by the former employers.
Equity Ownership – If you are incorporating early, then you can establish a big and valuable stake for your business without the participation of any other parties. But if you are incorporating very late, this may involve the other parties too.
Why to Incorporate in Singapore?
With every passing year, Singapore is becoming the hub area for entrepreneurs, corporations and other ventures across the globe. Reason to choose Singapore is diverse and they are;
- By World Bank for ease of doing business, this country was ranked no 2nd in 2018.
- Earn the rank 4th being the safest country for intellectual property across the world according to the Global competitiveness report 2017- 2018.
- Having an open economy for international trade this is ranked as no 1.
- For the best business environment, Singapore is ranked as no 1 in the world according to the Economic intelligence unit in 2017.
- It is the world’s 3rd wealthiest nation according to Forbes magazine.
- With the very least corruption, this country is ranked as no 6th in the world according to the report of transparency international in 2017.
- It holds the position of no 1 for global talent.
- For the qualitative lives, this country ranked as no 4th in the world.
- Rates of corporate taxes are 8.5%
- Dividend or capital gain taxes are not reliable in Singapore.
- No tax for Estate/death/inheritance.
- Your tax starts at 0% and can go up to 20%.
However, the important thing about Singapore incorporation is you need to complete your paperwork carefully. Specifically, you will have to written work of administration, annual reports and all of your key records in a good manner.
Luckily, you can hire company secretary services to Singapore to do all this work without any disruptions. They will ensure more efficient and effective work through the hands of experts.