Top 5 countries to set up a business
Top 5 jurisdictions engaged in by Healy Consultants
- Hong Kong
- United Arab Emirates
- Marshall Islands
Most of our Clients who incorporated in Singapore in 2016 are commodity traders, trading products such as gem stones, textiles and natural resources. Traders often cite reasons such as i) low tax, ii) reputable jurisdiction and iii) ease of starting a business for choosing to incorporate in Singapore.
Several our Clients also chose Singapore due to its strong intellectual property protection laws. These Clients invest heavily in their branding and rely on effective trademark registration to operate their business model and to protect their market share. Effective trademark registration also allows our Clients to license their brand to franchisees.
Singapore is widely seen as a gateway to the South East Asian (SEA) market. Due to the strong relationships between Singapore and SEA countries and Singapore’s leadership in ASEAN, Singapore is often used as a launching pad to enter these emerging markets. Consequently, our Clients have set up business in Singapore to trade goods with Vietnam, Indonesia, Thailand & Philippines.
With a growing consumer market in SEA, expected to reach US$2 trillion by 2020 coupled with an emerging middle class from a population of more than 600 million, Healy Consultants Group PLC expects more investors to enter the SEA market through Singapore.
The business activities that our Clients engage in Hong Kong are typically related to finance, consulting and import/export. After all, Hong Kong is an established international financial center. It is also the premier hub for RMB trade settlement, financing and asset management. Hong Kong is currently the world’s largest offshore RMB business hub, with the world’s largest offshore pool of RMB liquidity.
In addition, our Clients pick Hong Kong as many find it easier to open a corporate bank accounts in Hong Kong. Hong Kong banks offer world class banking facilities, more importantly, they allow our Clients to open a bank account without having to travel.
Our Clients also use Hong Kong as a platform to do business in China. With greater ease of business setup and wider use of the English language, Hong Kong provides a business friendly and less intimidating jurisdiction for investors to enter the Chinese market.
Furthermore, investors also benefit from Closer Economic Partnership Arrangement (CEPA). This free trade agreement provides Hong Kong companies with market access benefits and enjoy more liberalized measures when entering China’s service sectors.
The Guangdong agreement signed in late 2015 under the CEPA framework extended Guangdong pilot liberalization measures to the whole of mainland, making Hong Kong an even more promising jurisdiction for doing trade in China.
United Arab Emirates (UAE)
UAE has 8 percent of the world’s oil reserve and 5 percent of the world’s gas reserve. Consequently, many of our Clients look to UAE to establish oil and gas related business including consultancy and exploration.
UAE’s numerous free zones, including DMCC and DIFC have garnered plenty of attention from investors all around the world. Most of our Clients chose to register in the DMCC free zone. The benefits conferred include i) 0% corporate and personal income tax, ii) 100% foreign ownership and iii) no restriction on capital repatriation.
As UAE gears up for Expo 2020 with an anticipated 25 million visitors. An investment of US$8 billion was announced by Majid Al Futtaim into the construction of over 10 new city center malls. This is expected to drive growth in the construction industry and spur business development well past 2020.
Marshall Islands is a perfect jurisdiction for setting up an offshore legal entity. Our Clients looking to take advantage of low taxes, high confidentiality and ease of company management, find Marshall Islands offshore company as an invaluable solution.
The foundation of the legal infrastructure of the Republic of Marshall Islands stems from the legislation of the State of Delaware in the US, that ensures flexibility and friendliness of the legal system towards the business community, making it the ultimate choice for international entrepreneurs and investors.
Our Clients setting up offshore companies in Marshall Islands engage in a range of business activities, from general trading, banking and non-banking financial services, import export, shipping and logistics as well as professional services. The country’s registrar of corporations does not enforce any stringent restrictions on foreign investments.
Incorporating in Marshal Islands is equally simple and straight forward and can be completed within a week. Aside from the zero-tax advantage for offshore entities, the country’s commercial code also permit use of nominee shareholders and directors as well as bearer shares.
India has emerged as one of the most attractive destinations for business and investments and now ranks third to USA and China in terms of preferred investment destinations. India is emerging as a powerhouse with an annual growth rate of over 7.5%, among the highest in the BRICS (the 5 major emerging national economies) and with a potential of reaching double-digit rates in the long run.
Unlike most emerging markets, India has a positive macroeconomic environment with i) record-high foreign exchange reserves ii) a tamed current account deficit and iii) an inflation kept under control – consequently reducing vulnerability to global economic shocks. The country’s economy is internally driven, fueled mainly by domestic investment and consumption.
India has gradually established itself as a major technological power and is expected to have the second largest startup network worldwide this year. The country has also demonstrated that industrialization together with export of commodities and resources is not the only path to swift economic progress. India’s major export happens to lie in the services sector, making up to 54% of the country’s economy in 2017.
Due to the country’s dynamic economy and numerous investment opportunities, our Clients establishing in 2016 be it foreign entities setting up subsidiaries and branches or local entrepreneurs and investors establishing local entities, spread across different sectors of the economy including higher education, manufacturing, pharmaceuticals, general trading and information technology among others.
Contact us for help
At Healy Consultants, we shelter our Clients from inconvenience during the incorporation process. We will manage your engagement with efficiency and professionalism.
Interested in knowing more about starting a company? Contact us at (+65) 6735 0120 or send your questions to email@example.com.