Bestar highlights the main benefits of starting an online business in different countries

February 11, 2019   Business News
(PRLEAP.COM) Bestar, a company formation agent in Singapore, highlights the main benefits of starting an online business in different countries and presents you the recent statistics related to the evolution of the online sector in the world.

The jurisdiction in which the online company is based can have a significant impact on the evolution of the business. Investors who open a company in Singapore, for example, benefit from a number of advantages when starting an online business here. "Singapore is one of the most easy to do business countries in the world, it's also very easy to start a company even though you are not a resident and, of course, any investor can benefit from very low, even zero taxation. I would definitely recommend Singapore for anyone looking to open an online company", declared Alex Cuc, PR manager at OpenCompanySingapore.com, owned by Bestar, a company formation agent based in Singapore.

One aspect that should be taken into consideration by all entrepreneurs who open an online business, irrespective of the chosen country, is to seek legal assistance in case of online frauds.

Where to start an online business

Investors who are interested in exploring the online retail sector in Asia can open a website in Malaysia. One important advantage is that they also extend their customer base to clients from Singapore, Thailand, Vietnam or Indonesia. An alternative is to start an online business in Labuan, a federal territory of Malaysia that offers attractive benefits to foreign investors, from zero taxation in case of director's fees and no sales tax, GST or service tax for international transactions.

Dubai is also another region where investors have different advantages when starting a business and they benefit from low taxation especially if they set up a company in a free zone. Opening an online luxury car rental business can be a particularly interesting business given the clientele, which is, in some respects, unique to the United Arab Emirates.

Opening an online business can have lower start-ups costs, will offer easy access to the chosen market and has the potential for rapid growth.

The evolution of the online sector in the world

Opening an online business is now a crucial movement for the entrepreneurs who want to benefit from the spectacular growing of the online markets all over the world, especially in the developed countries. According to Statista, which compiles statistics and studies from multiple sources, the global e-retail sales in the United States alone amounted to approximately $2.3 trillion in 2017. During the same year, it was estimated that approximately 1.66 billion people worldwide purchased goods online. The projections for the year 2021 in the United States are for a growth of sales of up to $4.48 trillion. However, the United States are not the only attractive market for online businesses.

The e-retail sales in the Asia-Pacific region are expected to reach 20.4% of the total retail sales in 2019. According to eMarketer, the e-commerce retail sales in the Asia-Pacific region amounted to approximately $1.349 trillion in 2017, an increase of more than 30% compared to the previous year. The evolution of the m-commerce (commercial transactions conducted electronically by mobile phone) is also important in Asia-Pacific zone, with approximately $1.027 trillion sales in 2017 (a 41.9% increase compared to 2016) and amounting to more than 75% of the total e-commerce sales in 2017.

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