Do not decide by tax alone
Incorporation may become attractive after income reaches a certain level, but setup costs, running costs and social insurance must also be considered.
Credibility and contracts
A company may be more credible to clients and banks, but administrative responsibilities increase.
Social insurance and director remuneration
After incorporation, social insurance and director remuneration design become important. Consider both company tax and personal take-home income.
Timing the decision
Decide based on revenue, profit, hiring, financing and client requirements together with your business plan.