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I am not sure which question to ask first- Did you know? or Did you know why?

Well, here are major reasons for the longer question:

Statistics

  • First language is English
  • Second in ease of doing business
  • Third highest per capita income
  • Fourth biggest financial centre
  • Fifth busiest port

Taxation

  • First $100,000 of profit is free of tax for first 3 years after incorporation
  • Next $100,000 of profit is charged at half of normal rates i.e. @8.5% for first 3 years
  • Dividends are tax free in hands of receiver

Regulatory Framework

  • Ease of starting a company normally within few hours
  • Ease of Closing down a Company
  • Audit exemption for private companies without corporate shareholder having turnover less than $5 million
  • Fast legal system for quick resolution of disputes for JVs

Other reasons

  • Proximity to China and India – two of biggest economies
  • No regulatory restrictions on fund movement
  • Presence of a number of international and local banks
  • Your banking is for your eyes only- even government will need a court order to see it
  • Low interest rates
  • Stable Currency
  • Stable political system- ruling party has won every election with overwhelming majority
  • Low crime/Zero Crime
  • Clean, Safe and Healthy making it a migration destination

and the list goes on…..