With no capital gains tax, and one of the lowest corporate tax rates in the world, Singapore has topped the World Bank’s Ease of Doing Business index year after year. Notably, the time taken to incorporate a business entity here is also just a few hours. Add to it, 75 comprehensive double taxation agreements and 8 limited treaties dealing with income from shipping and air transport enterprises, as well as no controlled foreign company rules, the city-state surpasses Hong Kong as the most preferred destination for company incorporation in Asia by a long distance.
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