Comparison of Singapore with East Asian Countries
Particulars | Singapore | Hong Kong | China | Taiwan | Bangladesh |
---|---|---|---|---|---|
Corporation tax | 0% – 17% | 0% – 16.5% | 15% – 25% | 20% | 27.5% |
VAT rate | 9% (known as GST) | Not applicable | 9% – 13% | 5% | 15% |
Exemption of corporation tax and VAT | Depends on the location where business is carried out | Depends on the income generation place | Depends on goods and services provided | Depends on income level and goods and services provided | Depends on business activity |
Popular business structure | LLC | LLC | WFOE | LLC | LLC |
How long to register company? | 1 day | 1 week | 4 weeks | 4 – 6 weeks | 2 weeks |
Minimum number of directors and shareholders? | 1 director and 1 shareholder | 1 director and 1 shareholder | 1 director and 1 shareholder | 1 director and 1 shareholder | 2 directors and 2 shareholders |
Local director required? | Yes | No | No | No | No |
Resident representative or agent required? | Yes | No | Yes | Yes | Yes |
Minimum amount of paid-up capital? | Not required | Not required | RMB 500,000 recommended | Not required | US$ 50,000 for foreign owned enterprises |