Singapore is known to be one of the fastest growing business hubs in Asia. Many entrepreneurs choose Singapore for their offshore company because of the numerous benefits they derive from it. The country has a difficult legislation which is to safeguard intellectual property, but smooth the progress of business ventures.

In addition to that, the country is located has a good location which is deem to be the center of the growing Asian economy. In this very way, they are surrounded by the big economies with which they can gain fruitful business bonds. At the same time, they also uphold their good reputation as well as responsibility.

Now, Singapore is in the limelight just because of its tax incentives. It is known to be the only country with the lowest tax. This, furthermore add to the enhancement of the finest location for incorporation in Singapore. The country is known to be a globally renowned business nation only because of the tax benefits.
Singapore has become a famous destination for many foreign entrepreneurs and there are several factors contributing to it. Starting from the processes, which is quite a structured and simple one. The best part is that they can hire service providers to give them a hand in all the processes. And this is amazing because they are experienced people and have been through a lot of these processes. The main factor that contributed to the country's popularity for incorporation in Singapore is the tax policy.
One of the main pros is that be it foreign or local entrepreneurs, they same the same amount of tax. Maybe this looks unfair to locals, however the country support their own business because they deal in offshore companies. Hence this resume to a good culture of entrepreneurship.

Note that, all the income resource in the country or the one being dispatched into by the Singapore companies is taxed. What this means is that any company which is incorporated in Singapore and do its operations in other countries obviously receive their gain from overseas, they are do not pay the tax.

The law is very much in favor of the businesses and when it comes to the corporate tax policy for new incorporated companies, they are well taken care of. This is what contributed to the success of entrepreneurship there. For new companies being, for all the processes there is a minimal cost as compared to other countries.
At the end of the day, low tax has not affected Singapore in any sense. On the other hand, the country's prestige, as well as good life has gone higher socially and economically.