Press release from Business Wire India
Source: GuideMeSingapore.com
Wednesday, December 08, 2010 10:00 AM IST (04:30 AM GMT)
Editors: General: People; Business: Accounting & management consultancy services, Banking & financial services, Business services, Financial Analyst, Information technology; Technology
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Singapore Company Registration Statistics for November 2010 Now Available from GuideMeSingapore.com
GuideMeSingapore.com has released its statistical report on the formation of Singapore companies for November 2010 showing the trend in new company registrations in Singapore
Singapore, Wednesday, December 08, 2010 -- (Business Wire India) -- www.GuideMeSingapore.com, a Singapore-focused portal that covers a wide range of topics on starting and doing business in Singapore has just released its monthly Singapore company registration statistics report for November 2010 along with a brief analysis of the trend in newly incorporated companies in Singapore over the past three months.
According to the report, 44% of the 4,077 Singapore business registrations in November 2010 were exempt private limited companies (i.e. companies with less than 20 shareholders and whose all shareholders are individuals), which also proved to be the most popular business structure from September through November 2010.
There was a 18% and 26% growth in the number of limited liability company (LLC) registrations and limited liability partnership (LLP) registrations from October to November 2010 while sole proprietorships recorded a 20% decline in growth during the same period. Analyzing this trend, Ms. Jacqueline Low, the Director of Singapore company registration agency Janus Corporate Solutions - the parent of GuideMeSingapore.com site said, "When entrepreneurs compare different business structures, the benefits of incorporating a LLC outweigh any other type of entity. LLC advantages such as limited liability, perpetual succession, tax savings, and credible image are some of the key reasons behind the popularity of this particular structure in Singapore. Similarly, most foreign companies prefer to register a limited liability subsidiary company as opposed to a branch office for some of the same reasons."
Majority (65%) of the companies that were registered in November 2010 were 100% locally owned as was the case in September and October 2010. 25% of the companies were completely foreign owned indicating a 4% increase from October 2010. "Singapore's strong economic performance during 2010 has attracted the attention of foreign entrepreneurs and investors who are keen to tap into the business opportunities that have opened up in the region over the past few months. Singapore's pro-business policies act as an added incentive not only for foreign entrepreneurs but also for many a local enterpriser," said Ms. Low.
Higher company incorporation activity was noted in industries such as wholesale trade; financial services; and management consultancies from September through November 2010. The British Virgin Islands, Cayman Islands, UK, USA, India, China, and Malaysia were among the top 10 countries to have invested and setup a business in Singapore from September through November 2010. "Singapore's open foreign ownership policy, its low tax system, strict legal environment, effective regulation, and availability of talented human resources makes it the perfect destination for setting up and operating a business," added Ms. Low.
A full copy of the report is available at http://www.guidemesingapore.com/docs/singapore-company-registration-report-2010-11.pdf
About GuideMeSingapore.com
GuideMeSingapore.com is a unit of Janus Corporate Solutions Pte Ltd - a Singapore-based firm that provides Singapore incorporation, taxation, and staff relocation services to organizations and individuals worldwide.
CONTACT DETAILS
Andrew Chen, GuideMeSingapore.com, +65 6222 7445, achen@guidemesingapore.com
KEYWORDS
PEOPLE, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TECHNOLOGY
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