This uptrend shows that the electoral debates in May have not swayed the confidence of foreign entrepreneurs who wish to establish start-ups here.
Singapore (PRWEB) June 08, 2011
http://www.GuideMeSingapore.com, a leading Singapore-focused business information portal has today released its Singapore Company Incorporation Statistics Report for May 2011. The report presents useful data on entity types and shareholding structures of newly-formed companies, the industries showing high company incorporation activity and the top countries investing in Singapore for the month of May this year.
According to the report, a total of 4,740 business registrations were recorded in Singapore in May 2011. The exempt private limited company or EPC (i.e. companies with less than 20 shareholders and whose shares are held by individuals only) remained as the most preferred entity type registered in Singapore for five months running this year. At a total of 2,136, EPCs led the pack and represented 45% of new company incorporations, followed by sole-proprietorships (38%) and private limited companies (8%).
The report also supplied that 65% of the newly-registered companies in May 2011 had 100% local shareholding, indicating a 4% decrease as compared to April 2011. This translates to a 3% increase in the incorporation of companies with both local and foreign shareholding as well as a 1% increase in registration of companies with 100% foreign shareholding in May 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, “This uptrend shows that the electoral debates in May have not swayed the confidence of foreign entrepreneurs who wish to establish start-ups here. Singapore remains as an open economy and Asia’s most entrepreneurial economy, offering an abundance of business funding, market-friendly tax regime and an easy incorporation environment.”
The highest incorporation activity for May 2011 was noted in industries such as wholesale trade (23%), financial services (15%) and management consultancies (8%). Of these, the wholesale trade sector has grown by 2% since April 2011. The retail trade and construction sectors have also improved by 1% respectively since April 2011.
Majority of the entrepreneurs and MNCs that chose to invest in Singapore in May 2011 hail from the British Virgin Islands, India, China, Hong Kong, Cayman Islands, Australia, United Kingdom, United States, Netherlands, France, Indonesia and Japan.
“Singapore remained appealing to foreign investors in May 2011. With recent company formation figures showing promise, 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-2011-05.pdf