Thread: Company set up singapore or India?
I am an Indian entrepreneur in Singapore and want to start a new business. I initially thought of setting up some new business in India but am advised by my friends and colleagues that it is better to start something new in Singapore itself. It seems that it is much easier compared to India where there is a lot of bureaucracy and red tape. I am told its too many hassles. Any thoughts on this?
> steve009 wrote:
> I am an Indian entrepreneur in Singapore and want to start a new business. I initially thought of setting up some new business in India but am advised by my friends and colleagues that it is better to start something new in Singapore itself. It seems that it is much easier compared to India where there is a lot of bureaucracy and red tape. I am told its too many hassles. Any thoughts on this?
Well if you compare company incorporation requirements in Singapore and India you will find that it is easier to start and operate a business in Singapore than India. Here is a quick snapshot:
-Singapore permits 100% foreign ownership of a Singapore private limited company and allows companies to engage in any legal business activity. India allows 100% foreign ownership of a private limited company only in certain business sectors. Some sectors are subject to caps on investment limits and require prior approval from the Indian government, while certain other sectors prohibit foreign investment.
- The minimum paid up capital to incorporate a Singapore company is S$ 1.00, as compared to the paid up capital requirement of INR 100,000 (approx. S$ 3,000) for an Indian company.
- A Singapore company can be registered with a single shareholder and director, whereas a minimum of two shareholders and directors are required to incorporate an Indian company.
- The time-line for Singapore company incorporation is less than 24 hours, while it normally takes 1-2 months to register a company in India.
- Company incorporation in Singapore is streamlined with minimal procedures. Company formation in India is a lengthy and complex procedure, involving transactions with several government bodies.
- In Singapore, small companies are exempt from filing audited accounts with their annual return. By contrast, all Indian companies must file audited accounts with their annual return.
- All Indian companies must appoint an auditor, whereas smaller companies in Singapore are exempt from this requirement.
- Singapore charges a corporate tax rate of approximately 8.5% for profits up to S$300K and a flat 17% for profits above S$300K. The corporate tax rate in India is 30.9% for taxable income up to INR 10 million and 33.9% for taxable income above INR 10 million.
Perhaps you can look up [url]http://www.guidemesingapore.com/company-setup/c312-singapore-company-registration-details.htm[/url] for details on Singapore company set up. For details on setting up a company in India refer to [url]http://www.indianembassy.org/newsite//Doing_business_In_India/Incorporation_of_business.asp[/url]
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