company formation comparison: singapore vs uk
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Company Formation Comparison: Singapore Vs. UKA presentation brought to you by OpenCompanySingapore.com
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Singapore and the UKSingaporeand theUnited Kingdomare connected in many ways.
Starting with the fact that Singapore was a British colony until 1963 and considering the city-states legal system is based on the English one are two strong reasons which make Singapore highly appealing to foreign investors all over the world.
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Opening a Company in Singapore Vs. the UK >>When it comes tostarting a business in Singaporeor in the UK, investors will usually base their decision on the market they address.
However, it is worth noting that even if addressing the European market, enterprisers will have many to gain fromopening a Singapore company.
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>> Opening a Company in Singapore Vs. the UKAs mentioned above, the two countries have similar commercial codes which makes thecompany registration processpretty muchthe same in Singapore and the UK.
None of the two states require a minimum capital whensetting up a limited liability company.
However, theSingapore company formation processtakes about one day, whilein the UKit will take 2 or 3 days.
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Why Choose Singapore Over the UK? >>
InSingapore, thecompany registration procedureimplies several steps into one: the company name reservation, the filing of the statutory documents and VAT registration are completed simultaneously.
In the UK, one must reserve the business name and file the articles of association of the company and only after apply for the VAT number.
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>> Why Choose Singapore Over the UK?Singapore offers many incentives for foreign investors, while the UK is preparing to exit the European Union, which could lead to some instability until things clear up.
Even so,Singapore and the UK have signed a double taxation agreementwhich means that taxation has not and will not be an issue no matter what happens in Europe.
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Singapore UK Double Tax Agreement >>Singapore and the United Kingdomsigned their firstdouble taxation treatyin 1966 and enforced it in 1975.
Ever since, the agreement was renewed several times and the last amendment was brought in 2012. The effective date of the treaty is January 1st, 2013.
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>> Singapore UK Double Tax AgreementTheSingapore-UK double tax agreementcovers private individuals andcompaniesresidents of one or both contracting parties and applies to the following taxes:
the income, the corporate and the capital gains taxes in the UK;
theincome tax in Singapore.
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Company Formation Services in SingaporeOurcompany formation experts in Singaporecan assist foreign investors who want toopen a company in the city-state.
You can also contact us for complete information on thedouble tax treaty with the UK.
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Thank you for your attention!For more information, please contact us at:
+ 852 8191 [email protected]