Singapore (PRWEB) December 18, 2012
Despite the economic slow-down in Singapore, Janus Corporate Solutions is pleased to announce strong growth in its business incorporation and relocation services during 2012. The service provider of choice for companies setting up operations in Singapore, Janus’s business has been boosted by continued interest from foreign firms to set up their business in Singapore, particularly business and management consultancies, wholesale and trading corporations, software and programming companies, business support firms, and investment holding entities.
This is in line with the continuous growth of Foreign Direct Investment (FDI) into Singapore. According to the latest government data, Singapore’s FDI increased by 8.8% in 2010. Over the last three years, from 2008 - 2010, FDI grew by a total of 25%. While GDP growth for 2012 is forecast to fall to 1.5%, Janus believes FDI for the year will continue to rise at a steady pace.
“Singapore’s business friendly policies and low taxes are attractive to foreign companies,” said Jacqueline Low, Chief Operating Officer of Janus. “But more than that, Singapore encourages foreign investment via various government funding and assistance schemes for start-ups based in the country. As part of our Singapore relocation and business advisory services, we add value by identifying financing and business incubation schemes, as well as cash grants and tax incentives that may be suitable for our clients.”
At the end of 2010, the total FDI in Singapore stood at S$618 billion. Industries that received the most FDI were Financial and Insurance Services (43%), Manufacturing (21%) and Wholesale & Retail Trade (18%). Growth has been particularly aggressive in certain sectors, such as Information & Communication (14.4%), Real Estate (13.9%), Accommodation & Food Services (11.5%), Financial & Insurance Services (10.6%) and Wholesale (10.5%).
FDI in Singapore is so strong that 35% of business incorporations in the third quarter of 2012 have some degree of foreign ownership. About one quarter of them were completely foreign owned while 11 per cent had a combination of both local and foreign shareholders.
“Starting out in a new country takes time as you need to figure out all the nitty-gritty details of setting up,” said Ms Low. “And as we all know, time is money. We help our clients shorten this process by providing counsel in everything from business incorporation to tax planning to legal and contractual matters. If required, we can even advise them on operational matters, including space for new office, housing for international staff, banking relationships and recruitment of local staff.”
Janus operates a portal that provides industry-specific guides on starting a Singapore business in a range of industries.
About Janus Corporate Solutions Pte Ltd
Janus Corporate Solutions Pte Ltd is a leading Singapore-based firm that provides comprehensive and cost-effective Singapore company formation, employment visa, accounting and tax filing services to businesses and entrepreneurs worldwide. To learn more, visit http://www.guidemesingapore.com.
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