BWI: Singapore Company Formation Q3 2011 Report Released by GuideMeSingapore.com

Press release from Business Wire India
Source: GuideMeSingapore.com
Wednesday, October 12, 2011 11:00 AM IST (05:30 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Banking & financial services, Business services, Financial Analyst
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Singapore Company Formation Q3 2011 Report Released by GuideMeSingapore.com
GuideMeSingapore.com has released a statistical report, analysing the trends in new Singapore company formations for Q3 2011

Singapore, Wednesday, October 12, 2011 -- (Business Wire India) -- GuideMeSingapore.com, a leading Singapore-focused business information portal has published its Singapore company formations report for Q3 2011 (July to September 2011). The report offers insights into the quantity, profiles, industries, shareholding structures and countries of origin relating to Singapore company formation activity in Q3 2011.

According to the report, a total of 13,934 new companies were registered in Singapore in Q3 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-proprietor ships (36%) and private limited companies (8%).

Between Q2 2011 and Q3 2011, the total number of businesses registered has decreased by 3.6% from 14, 455 in Q2 2011. In other words, the monthly average number of businesses registered in Singapore has decreased from 4,818 in Q2 2011 to 4,644 in Q3 2011. Commenting on the results, Ms. Jacqueline Low, the Director of Singapore company incorporation agency Janus Corporate Solutions - the parent of www.GuideMeSingapore.com said, "The slight dip in the number of businesses registered in Singapore between Q2 2011 and Q3 2011 can be attributed to a slowing global economy which as inevitably affected Asia. As dire fiscal issues and unemployment woes persist in the US and Eurozone, fears of a recession in Q4 this year loom, inevitably affecting business sentiments as well, as reflected in the registration numbers."

The report also reveals that 65% of the newly-registered companies in Q3 2011 had 100% local shareholding while 23% of companies were completely foreign-owned while 12% of the companies had both local and foreign shareholders. In addition, many of the individual and corporate shareholders investing in Singapore in Q3 2011 hail from the British Virgin Islands, Hong Kong, United Kingdom, United States, China, India, Cayman Islands, Australia, South Korea, Malaysia, Indonesia and Japan.

"Although the economic outlook may not be as bright as it was in Q1 2011, Singapore's economy is grounded in sound and prudent financial practices which will help us tide the recession well. Additionally, Forbes has recently ranked Singapore as the sixth best economy in world for business. Trade freedom, absence of corruption, monetary freedom, investor protection, property rights and low red tape are cited as hallmarks of the Singapore economy. Therefore, we anticipate a sustained 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-statistics-2011q3.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.


CONTACT DETAILS
Jacqueline Low, Janus Corporate Solutions Pte Ltd, +65 6222 7445, media@guidemesingapore.com

KEYWORDS
CONSUMER, ECONOMY, PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst

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