There may be several countries in Asia that have fast growing economies and provide an ample number of business opportunities to entrepreneurs but not all these countries get the same response from overseas business owners as Singapore. Asia has China which is the fastest growing economy in the world as well as the second largest economy in the world. There is India which is consistently growing at 9 per cent per annum and ranks as the second fastest growing economy. There are also other emerging nations such as Malaysia, Thailandand Dubai amongst others. Of course there is Japan as well. However, none of these nations are currently seen as entrepreneur friendly especially by overseas entrepreneurs.
This is simply because while there is no doubt about the business opportunities in these countries, it can be a real nightmare for foreign businesses to enter these nations. Laws are often quite complex and there is a conscious effort to promote local business owners and provide them with advantages and business incentives not available to foreign owned companies in the country. Some nations even follow separate taxation policies for local and foreign entrepreneurs. However, there is no such differentiation in Singapore. Foreign business owners have the same rules and regulations as a local entrepreneur in Singapore. The ongoing compliance requirements are the same and at the same time all business incentives or tax breaks available for local owned companies are passed on to foreign owned companies as well. Basically once a foreigner is able to complete their Singapore company registration, they are always treated in the same manner as a local entrepreneur.
Foreign entrepreneurs can complete their Singapore company incorporation in about a day or two without even visiting the country. Apart from the ease of company setup in Singapore, once the company is in operation, it is viewed the same as a local company and the foreign owner consideration never arises. This is quite different from most other nations in Asia where if a foreign business manages to complete the incorporation procedure, after that they start following the rules and regulations meant for foreign companies only. Local laws are often not applicable to them. This becomes a huge let down for the foreign entrepreneur and often it becomes quite frustrating to deal with the separate rules meant for them. Therefore most entrepreneurs looking for the ideal business destination in Asia end up choosing Singapore as the laws are quite clear and straightforward and it's the same for both local and foreign business owners.
Bryan Wong is a business analyst in the Asia-Pacific region and in his free time writes business articles. In this article, Bryan talks about Singapore company incorporation and <ahref="http://www.guidemesingapore.com/relocation/work-pass/singapore-entrepreneur-pass-guide">Singapore entrepreneur visa.
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