Why Singapore Ranked 1st Place To Setup Headquarter

Singapore consistently ranked the number 1 place to do business in the world and has become the ideal springboard to the Asia Pacific regional market.
To create new business chapter, the republic introduced Headquarter Program to catch the world eyes. Both scheme is emphasis on lower corporate tax rate compare with the existing rate .
Headquarter Program consist of the following :
REGIONAL HEADQUARTERS (RHQ)
Eligible relocate headquarter company can apply for RHQ to enjoy Singapore Tax rate of 15% for a period of 5 years for all the income arising from activities occur in Singapore.(Existing Corporate Tax rate is 17%)
WHO eligible for this programme ?

Eligible company must meet the following criteria before submit for application:

• must maintain paid up capital of S$0.2 million and S$0.5 million by the end of 1st year and 3rd year.
• must extent its business map network(in the form of subsidiaries, sister companies, branches, representative offices) in 3 countries outside Singapore by end of 3rd year .
• must employed 75% skilled staff (at least NTC2 certificate of qualification )
• additional 10 professional in Singapore by end of 3rd year ( at least diploma qualification)
• average remuneration per worker is S$100,000 per year for the top 5 executive management by 3rd year
• additional S$2 million in annual total business spending in Singapore by the end of 3rd year
• additional S$3 million in total business spending for all 3 years

General Motor is one of good example which will move its international operations headquarter from Shanghai to Singapore on 2nd quarter of 2014.
INTERNATIONAL HEADQUARTERS (IHQ)
Eligible company will enjoy more attractive tax rate between 0% and 10%.

WHO eligible for this programme ?

• Eligible for those is Singapore registered company and the setup is with the objective to carry out their headquarter activities to manage their regional and global operation.
• Eligible company must commit to exceed the minimum requirements of the Regional Headquarters
• All the hired staff must based in Singapore.

WHO to contact with ?
Singapore Economic Development Board
250 North Bridge Road
#28-00 Raffles City Tower
Singapore 179101
Tel : 6832 6832
clientservices@edb.gov.sg.
Singapore Economic Development Board