Press release from Business Wire India
Source: GuideMeSingapore.com
Thursday, May 12, 2011 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
--------------------------------------------------
Singapore Company Formation Statistical Report for April 2011 Published by GuideMeSingapore.com
GuideMeSingapore.com has published its monthly statistical report presenting the trend in new Singapore company formations for April 2011
Singapore, Thursday, May 12, 2011 -- (Business Wire India) -- www.GuideMeSingapore.com, a leading Singapore-focused business information portal has published its Singapore company formation statistical report for April 2011. The report furnishes statistical data on the number of business registrations in Singapore for the month of April. It also offers insights into the profile of newly formed companies along with data on Singapore company formations by industry
and by shareholder country.
According to the report there were a total of 4,955 business registrations in Singapore during April 2011. Exempt private limited companies (i.e. companies with less than 20 shareholders and whose shares are held by individuals only) were the most popular business entity type, accounting for 45% of the new business registrations followed by sole-proprietorships (37%) and private limited companies (7%). Examining this trend, Ms. Jacqueline Low, the Director of Singapore company formation agency Janus Corporate Solutions - the parent of GuideMeSingapore.com site said, "The simplified on-going compliance requirements of exempt private limited companies along with the advantages of an incorporated entity increases the appeal of EPCs in the current climate. An EPC with an annual turnover of less than S$5million is exempt from appointing an auditor and is allowed to file unaudited accounts in Singapore. At the same time, it enjoys benefits such as a distinct legal identity, perpetuity, credibility in the eyes of the public, and low corporate tax rates. Incorporating an EPC only makes economic sense of business owners."
The report reveals that 69% of the newly registered companies in April 2011 had 100% local shareholding marking a 4% increase from March 2011. 21% of the companies were completely foreign-owned while 10% of the companies had both local and foreign shareholders. "There is a healthy wave of local entrepreneurship in Singapore. In fact, Singapore was recently ranked as Asia's most entrepreneurial economy. Company registration in Singapore is a low-cost, hassle-free process; tax rates are low; there are several business funding options available; and the country is on a healthy economic growth path. Singapore's business ecosystem is inspiring more individuals with an entrepreneurial flair to start their own business venture here," said Ms. Low.
21% of the company registrations in Singapore during April 2011 were in the wholesale trade sector while the financial services sector accounted for 16% of the new company formations. 9% of the companies were involved in activities of head offices and management consultancies. F&B, retail trade, IT, construction, education, and real estate were also among the top 10 industries recording high company incorporation activity.
Analysis of Singapore company registrations by country reveals that entrepreneurs and companies from the West as well as Asia find Singapore an appealing business destination. The British Virgin Islands, UK, USA, Cayman Islands, New Zealand, Australia Hong Kong, Malaysia, India, China, Australia, Japan and Bangladesh were among the top investing
countries during April 2011.
"The recent company formation figures look promising and we are expecting a robust demand for our Singapore company incorporation services in the months to come," added Ms. Low.
A full copy of the report can be viewed at http://www.guidemesingapore.com/docs/singapore-company-registration-report-2011-april.pdf
About GuideMeSingapore.com
GuideMeSingapore.com is a unit of Janus Corporate Solutions Pte Ltd - a Singapore-based firm that provides cost-effective and professional services to local and foreign entities for Singapore company registration, branch office setup, owner/staff relocation, taxation and on-going statutory compliance needs.
Janus Corporate Solutions Pte Ltd
16 Raffles Quay #33-03
Hong Leong Building
Singapore 048581
CONTACT DETAILS
Andrew Chen, GuideMeSingapore.com, +65 6222 7445, achen@guidemesingapore.com
KEYWORDS
PEOPLE, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
No comments:
Post a Comment