Press release from Business Wire India
Source: GuideMeSingapore.com
Wednesday, July 13, 2011 10:00 AM IST (04:30 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology; Technology
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Singapore Company Registration Statistics for June 2011 Published by www.GuideMeSingapore.com
www.GuideMeSingapore.com has published its monthly Singapore company incorporation statistics report, presenting the latest data in new company formations for June 2011
Singapore, Wednesday, July 13, 2011 -- (Business Wire India) -- www.GuideMeSingapore.com, a leading Singapore-focused business information portal has today published its Singapore Company Incorporation Statistics Report for June 2011. The report provides essential data on entity types and shareholding structures of newly-incorporated companies, the industries showing high volume of company incorporation and the top countries that invested in Singapore last month.
Data from the report shows that as many as 4,760 business registrations were recorded in Singapore in June 2011. With a total of 2,101 registrations, the exempt private limited company or EPC (i.e. companies with less than 20 shareholders and whose shares are held by individuals only) represented 44% of new company incorporations in June 2011. This was followed by sole-proprietorships (37%) and private limited companies (8%). Further analysis by GuideMeSingapore.com shows that the top three business entities for June 2011 were also the most favored entity types throughout Q2 of 2011. Additionally, EPCs were the most favored entity type to be registered in Singapore throughout the first half of this year.
The report stated that 66% of the newly-registered companies in June 2011 were 100% owned by local shareholders, representing a 1% increase as compared to May 2011. In turn, there has been a 2% decrease in registration of companies with 100% foreign shareholding and 3% decrease in the registration of companies with both local and foreign shareholding in June 2011.
Commenting on the results, Ms. Jacqueline Low, the Director of Singapore company incorporation agency Janus Corporate Solutions - the parent of GuideMeSingapore.com site said, "Altogether, there has been an increase in the total number of company incorporations between May and June this year. This growth was led by entities with 100% local shareholding, indicating that Singapore's business environment is conducive for entrepreneurship. Company incorporation in Singapore has remained healthy throughout the first half of the year, buoyed by a positive business sentiment and optimistic economic outlook. The government's recent move to review the Companies Act and Regulatory Framework for Foreign Entities will reduce the regulatory burdens of companies and in turn, inspire more entrepreneurs to set up here."
The industries recording the highest volume of incorporation activity for June 2011 were wholesale trade (23%), financial services (16%) and management consultancies (8%). They were also amongst the top ten industries recording the highest volume of incorporation activity in Q2 2011. The other industries include education, F&B, retail trade, construction, business support and real estate. Of these, the financial services and IT sectors have grown by 1% respectively between May and June 2011.
In addition, many of the individual and corporate shareholders investing in Singapore in June 2011 originate from the British Virgin Islands, India, China, Hong Kong, Cayman Islands, Australia, United Kingdom, United States, Indonesia, Philippines and Japan.
"Singapore's updated business legislation will pave the way for a more vibrant economic landscape. With recent company formation figures showing promise, we are expecting a robust demand for our Singapore company registration 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-june.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 ongoing 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
CONSUMER, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TECHNOLOGY
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