The current economic climate in Europe and America is driving many multinational companies to restructure and rationalise and they are increasingly seeing Asia Pacific as an attractive base for their operations.
Singapore (PRWEB) January 18, 2013
Analysis from leading Singapore business incorporation firm, Janus Corporate Solutions, shows that the slowdown in the global economy is driving more Foreign Direct Investment (FDI) to Asia Pacific countries, with Singapore drawing one of the highest FDI in the region.
According to the recent Asia Pacific Trade and Investment Report (APTIR), the Asia Pacific region attracted 33% of global FDI in 2011, a considerable increase from 18% in 2005. Singapore drew 13% of all the FDI that went to the region, solidifying its status as a top business city in Asia.
“The results of the recent APTIR are indicative of a greater trend that we have observed.” said Ms. Jacqueline Low, Chief Operating Officer of Janus Corporate Solutions, a leading Singapore accounting services firm and the parent company of GuideMeSingapore. “The current economic climate in Europe and America is driving many multinational companies to restructure and rationalise and they are increasingly seeing Asia Pacific as an attractive base for their operations.”
In the past, businesses were relocating to tap into the growth potential in Asia. Ms Low points out that they could now be driven by lower costs and lower taxes: “With the economic uncertainty and stagnant growth in US and Europe, maintaining lower costs have become even more pressing than before. Operation costs are lower in Asia. With the increase in taxes in the US and France, tax rates in Asia, especially Singapore, are significantly lower.”
Singapore’s corporate taxes, at the flat rate of 17 percent, are one of the lowest in the world. Many tax incentives are available based on industry. On top of these, there are no capital gains and dividend taxes in Singapore - a key attraction for companies, especially those in the financial trading sector.
As compared to other countries in Asia, Singapore’s tax rates are more attractive to both businesses and professionals. To find out the taxes payable in Singapore vis-a-via other countries, GuideMeSingapore has a tax calculator where these can be estimated.
“At Janus, we advise foreign companies relocating to Singapore on the most tax efficient entity to incorporate their Singapore business,” said Ms Low. “Other than industry based tax incentives, we also help our clients claim the many tax benefits in Singapore for start-ups, business investments, high value-adding business activities, and innovative and productive activities.
About Janus Corporate Solutions Pte Ltd
Janus Corporate Solutions Pte Ltd is a leading Singapore-based firm that provides comprehensive and cost-effective Singapore company formation, employment visa, accounting and tax filing services to businesses and entrepreneurs worldwide. To learn more, visit http://www.guidemesingapore.com.