Because of the numerous unique advantages this legal structure offers:
Foreign nationals are allowed to own 100% of an EPC.
The liability of shareholders is limited to their share in the authorised capital which might be any amount unless you are going to move to Singapore on a business or work visa.
It offers you an opportunity to apply for residency and work permits in Singapore for founders and employees of the company as well as for their family members.
If the annual turnover of the company amounts to less than SGD 5,000,000, it is exempt from audit which greatly reduces your costs.
For the first three years after setting up an EPC, you will enjoy multiple tax incentives. For example, a part of the revenue is not subject to corporation tax or is taxed at a reduced rate.