Where should we register our company?

What is the best location in terms of corporate taxes and fees for a startup that operates in Singapore? Is it the best choice to register the company in Singapore, or should we register it somewhere else while keeping our operations here?

We are a small boot-strapped team of three co-founders and two freelance software developers. We have an MVP and want to roll out our first market-ready product within the next three months. We also want to grow our team with, at first, seven more employees and more, depending on future funding rounds.