October 28, 2011 (Powerhomebiz.com) The impressive growth in the Asian economy has meant a dramatic rise in the number of Asian entrepreneurs in the region. This has directly benefited Singapore as many of these entrepreneurs look for offshore destinations and they are most comfortable with the business friendly laws of Singapore. Traditionally most offshore company owners were from North America and Europe. However, thanks to the recession in the west, there have been a renewed interest in doing business in the east. Many Asian countries have reported high growth figures and Asian entrepreneurs have started to take more risks than before.
According to SingaporeStartup.com, Singapore’s ease of doing business for foreign companies is in direct contrastto the complex laws in most Asian nations. Even though China and India are considered as the two Asian giants dominating all economic activity, both those countries rank poorly when it comes to ease of doing business and encouraging entrepreneurism. Business owners from both China and India look at Singapore favorably and thanks to the country’s strategic position in Asia, entrepreneurs are far more comfortable incorporating a company in Singapore than most of theother offshore destinations.
At the moment, Singapore allows foreign entrepreneurs and investors to register a company in the country and retain 100 per centownership. There are no requirements to be present in the country during company incorporation and entrepreneurs are allowed to manage their Singapore Company from overseas. The minimum paid up capital requirement is only SGD $1 and several banks in Singapore allow foreigners to open corporate bank accounts after going through a telephonic interview. It is in fact possible to form an offshore company in Singapore and manage it for several years without even visiting the country even once. Singapore’s friendly relations with most Asian nations and positive brand image amongst business owners from across the continent has also benefitted the country in terms of number of offshore companies being formed by Asian entrepreneurs.
AboutSingaporeStartup.com
SingaporeStartup.com is a leading portal which focuses onoffshore companies in Singapore. The site provides in-depth guides on how tosetup an offshore company in Singapore and also provides information on laws aswell as policies which affect offshore companies in the country. For more information, please visit http://www.singaporestartup.com/