BWI: Janus Releases Singapore Company Registration Statistics for October 2010

Press release from Business Wire India
Source: GuideMeSingapore.com
Thursday, November 11, 2010 10:00 AM IST (04:30 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology; Technology
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Janus Releases Singapore Company Registration Statistics for October 2010
Janus has released statistical data on Singapore company registrations for October 2010 analyzing the trend among newly formed companies in Singapore

Singapore, Thursday, November 11, 2010 -- (Business Wire India) -- Singapore company registration agency Janus Corporate Solutions, has released a detailed report providing statistical data on the number of Singapore company formations during October 2010 along with an analysis of the profile of the recently incorporated companies. The report also serves to compare the trend in Singapore company registration between September and October 2010. The report is available on Janus's website at http://www.GuideMeSingapore.com.

The report cited a month-on-month growth rate of 1.8% in the total number of business registrations in Singapore from September to October 2010. 45% of the 4,643 new entity registrations were exempt private limited companies (i.e. companies with less than 20 shareholders and whose shares are held by individuals only), followed by sole proprietorships (40%) and private limited companies (6%).

The number of newly formed exempt private limited companies grew by approximately 3.7% from September to October 2010. Commenting on the popularity of exempt private limited companies as an incorporation vehicle, Ms. Jacqueline Low, the Director of Corporate Services at Janus said, "An exempt private limited company is the preferred business entity simply because it offers lesser compliance requirements than private limited companies. The added advantages are that as an incorporated entity it has a separate legal status, members have limited liability, it commands a positive public image, and enjoys perpetuity."

Data on the share-holding structure of newly formed companies reaffirms that the minimum share capital requirement of S$1.00 eases the Singapore company incorporation process for small to medium sized companies and entrepreneurs. 74% of the companies were incorporated with a share-capital under S$10,000 while 21% of the companies had share-capital in the range of S$10,001 - S$100,000. 5% of the companies had injected share-capital above S$100,001.

According to the report, 68% of the newly formed companies were locally owned, indicating a 3% increase from September 2010. 21% of the companies were completely foreign owned while the remaining 11% had both local and foreign shareholding. The increase in the number of locally owned companies points towards the rise in local entrepreneurship in Singapore. "Singapore is turning into an entrepreneurial hub. Local entrepreneurs with strong business acumen find it an opportune time to setup company in Singapore. It is one of the fastest growing economies and has in place an excellent business ecosystem. The World Bank recently ranked Singapore as the easiest place to do business for local entrepreneurs for the fifth time in a row," said Ms. Low.

The trading sector (22%), financial services industry (13%), and activities of head offices and management consultancies (9%) continued to remain the top three industries showing the most growth in newly setup companies during October 2010. The F&B sector recorded 5% new company incorporation activity followed by IT and retail trade (4% each). Real estate, education, and construction, were also among the top 10 sectors. Singapore's tax system, openness to trade, regulatory environment, absence of bureaucracy, formidable work-force, and excellent infrastructure continue to attract companies across various industries to setup an operational base in Singapore.

With the British Virgin Islands, UK, USA, Australia, India, China, and Malaysia ranking among the top 10 countries to have invested and setup a business in Singapore during October 2010, Singapore is proving to be the ideal launch pad for Western companies seeking regional expansion and for Asian enterprises that wish to expand their reach internationally.

The statistical data, which indicates a month-on-previous-month rise in the number of Singapore company registrations points towards the rising popularity of Singapore as an investment destination and business jurisdiction.

A full copy of the report can be found at http://www.guidemesingapore.com/reports/singapore-company-registration-report-2010-10.pdf.

About Janus

Janus Corporate Solutions Pte Ltd is the leading Singapore-based firm that offers incorporation of local and foreign companies, accounting, taxation, and work visa services to global entrepreneurs and firms that are interested in doing business in Singapore.

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, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TECHNOLOGY

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