Singapore: An Ideal Location for Indian Startups

SINGAPORE: AN IDEAL LOCATION FOR INDIAN STARTUPS a Rikvin In fographic | www.rik vin.com 1 EASY INCORPORATION PROCESS 142 nd 1st EASE OF DOING BUSINESS (World Bank's Global Survey Ranking) INDIA SINGAPORE INDIA SINGAPORE REGIONAL AVERAGE STEPS TO INCORPORATE 13 3 7 AVERAGE TIME TO 30 1 34 INCORPORATE (IN DAYS) Foreign individuals are allowed to incorporate a private limited company in Singapore, whether or not they choose to relocate to the city-state. 100% foreign ownership of companies is allowed as well. 5 SETUP REQUIREMENTS 1 Shareholder 1 Local Resident Director 1 Company Secretary S$1 Min. Paid-up Capital V 1 Registered Office Address (2 VIBRANT STARTUP ECOSYSTEM VENTURE CAPITAL INVESTMENT < US$30 million US$1 billion in 2011 in 2013 3 FRIENDLY TAX SYSTEM EFFECTIVE CORPORATE TAX RATE INDIA SINGAPORE 30% Domestic firms Both domestic 0-17% & foreign firms 40% Foreign firms Single Tier Taxation System No tax on dividends Double Tax and capital gains Reliefs SINGAPORE EFFECTIVE CORPORATE TAX RATES ACCORDING TO CORPORATE STRUCTURE INDIVIDUAL 100% CORPORATE CORPORATE + INDIVIDUAL SHAREHOLDING SHAREHOLDING SHAREHOLDING OR Owned by An Individual or a Group of Individuals Subsidiary Company At least 1 individual holding 10% of shares Taxable Income Effective Tax Rate Taxable Income Effective Taxable Income Effective (SGD) (SGD) Tax Rate (SGD) Tax Rate 100,000 0.00% ** 100,000 5.65% 100,000 0.00% ** 200,000 2.98% 200,000 5.80% 200,000 2.98% 300,000 3.97% 300,000 5.85% 300,000 3.97% 400,000 5.95% 400,000 7.36% 400,000 5.95% 500,000 7.14% 500,000 8.27% 500,000 7.14% 1,000,000 11.60% 1,000,000 12.41% 1,000,000 11.60% 2,000,000 14.30% 2.000.000 14.70% 2,000,000 14.30% 3,000,000 15.20% 3,000,000 15.47% 3,000,000 15.20% 5,000,000 15.92% 5,000,000 16.08% 5,000,000 15.92% 10,000,000 16.46% 10,000,000 16.54% 10,000,000 16.46% * Maximum headline corporate tax rate is 17% | ** For the first three (3) Years of Assessment STRONG IP PROTECTION LAWS BEST INTELLECTUAL PROPERTY PROTECTION (World Economic Forum's Study) INDIA SINGAPORE 1st 65th 2nd in the world in the world Singapore has the best intellectual property (IP) protection in Asia (5 INFRASTRUCTURE, FACILITIES AND CULTURE 且 Takes pride in its well-designed buildings, banking, educational, health care, housing and recreational facilities Has good air connectivity and ideal geographic location Supports innovative spirit Advocates racial harmony Has well-trained and qualified local manpower and supports international talents via its immigration policies INTERESTED IN RELOCATING YOUR COMPANY TO SINGAPORE? Our incorporation specialists can help you. Call us at +65 6320 1888 for a free consultation. RIKVIN RIKVIN PTE LTD | 30 Cecil Street, #19-08 Prudential Tower, Singapore 049712 Phone: (+65) 6320 1888 | Fax: (+65) 6438 2436 | [email protected] | www.rikvin.com