Singapore Business Formation

More than 14,000 multinational companies have set up regional or global headquarters in Singapore to date, which shows the rising popularity of Singapore business formation.

The Accounting and Regulatory Authority of Singapore (ACRA) is the government body responsible for Singapore business formation. The cost to register a company with ACRA is S$300 (US$240).

Investors considering Singapore business formation access a broad range of financial incentives offered by the Singapore Economic Development Board (EDB), including grants and loans.

Singapore is in the world's top ten wealthiest countries in terms of per capita gross domestic product (GDP). Consistent economic growth over recent years has dramatically increased the size of Singapore's economy, creating significant opportunities for investors planning on Singapore business formation. The CIA Factbook lists Singapore as the 41st largest economy, based on GDP.

Despite its location in a volatile part of the world, Singapore has been a haven of economic stability for foreign investors, and this stability is a prime driver for Singapore business formation. In Asia, only China and Hong Kong attract more inward foreign investment. That said, Singapore's economy is service-based and therefore exposed to global economic downturns.

As a stable country with an internationally well-respected legal and financial system, Singapore business formation enhances the image of entrepreneurs conducting global trade. Clients, suppliers and even potential investors regard Singapore companies positively, not least because Singapore is considered the world's 1st least corrupt country in Transparency International's 2010 Corruption Perceptions Index.

Many investors undertaking Singapore business formation choose to live and work in Singapore. According to the 2010 Quality of Living Survey by Mercer Human Resources, Singapore is ranked as the 28th best city in the world to live in.

Thanks to Singapore's free trade policies and open economy, Singapore business formation is an excellent way to conduct global trade. The country is rated the world's 2nd-freest economy in the 2011 Index of Economic Freedom by the Heritage Foundation, which accounts for the freedom companies enjoy in business, trade, financial, investment and labour markets.