Any company which wishes to launch a new opening in another country, would definitely look into certain set parameters which would facilitate its smooth entry and thereafter, a sustained growth, thereby fulfilling its predetermined goals.

To materialize the above objective it is imperative for an organization to ponder over the recommendations of the legitimate world level financial institution like the World Bank. It is heartening to note that of all the countries, Singapore has been awarded the 1st rank as far as ease of doing business in this country is concerned and also in terms of hassle free starting of the business. This status has been granted by none other than the World Bank in their ‘Doing Business 2012 report’. A total of 10 indicators were taken into consideration to evaluate the smoothness and ease with which business can be started, promoted and productivity achieved and to name a few indicators, they are; a) Starting a business, b) Dealing with construction permits, c) Registering property, d) Paying taxes etc.

Hence the economic environment in Singapore is built in such a way that all the favorable ingredients like the Laws, Regulatory institutions, Bureaucratic involvement and the Singapore Government itself has made that country conducive to register your business easily and also to set up a company in Singapore; the business hub of the East and the West.

The World Banks Doing Business 2012 Report throws light on factors like time taken and cost incurred in setting up an enterprise which play an important role from the stand point of speed and affordability. In addition to this the legal protection for the investors and property has also been taken into consideration. So also the Tax matters and the ease of winding up the business have also been looked into. There is a tremendous difference among countries regarding the regulations that govern the business start-up, but Singapore could hold its head high in being at the top amongst the 183 countries which were analyzed for their report by the World Bank.

So then the question that arises is not, why to Set-up a Company in Singapore but rather why not Setup a Company in Singapore . It is for the record seventh time that Singapore has bagged the first rank in the World Bank’s Doing Business Report. No wonder then that Singapore with its superb regulations and the utmost utilization of the latest technologies has brought down the average time to start a business to just 30 days and is further taking efforts to bring it still down.

The Companies who have started their business in Singapore and are doing exceptionally well have reported that their efficacy in doing business here is largely because of the simpler rules governing them. No doubt then Singapore deserves the no.1 rank for doing business.

About the Author:

SBS Consulting is a leading Singapore-based firm that provides comprehensive range of company registration , accounting services , taxation ,payroll, auditing , IT consulting, software development, immigration and statutory administration services to business professionals and entities.

SBS Consulting Pte Ltd
Phone: +65 6728 9142
Website: http://www.sbsgroup.com.sg/