Number of new registered companies in Singapore is rising

According to the report of Hawksword`s "Singapore business formation statistic report" for the period from April to July 2015 (the second quarter) in Singapore were registered 15,964 new business companies, significantly higher than in the first quarter (14,641 organizations), but lower than in 2014 (18 689 companies).

Since 2010 Singapore statistical agency Hawksford, has been publishing a quarterly report on the registration of new businesses in the country. In addition, they present an analysis of the factors affecting the conduct of business in the jurisdiction.

Major part of formed business institutions, recorded during the second quarter of 2015 in Singapore were Private Limited Company (54,7%). However, a major surge in the form of registered organizations was observed in the first quarter. The share of registration of individual entrepreneurs has increased to 37.7% compared with 34.9% in the first quarter. The share of private limited companies, including the release of a limited liability company, was 84.6%. The number of private limited companies has increased by 4% compared to the first quarter of 2015, but in comparison with the second quarter of last year has felt by 9.3%.

The types of newly registered companies in Singapore for the 2nd quarter of 2015.

On the territory of Singapore you can register a company with a registered capital of 1 Singapore dollar. This limitation is not obstructed during the registration of companies, which increases the number of enterprises in the country. Therefore, the bulk of the companies registered in Singapore are companies with a registered capital of at least S $ 10,000.

Worth noting is the fact that 66% of the local companies established in the 2nd quarter of 2015, were fully owned by shareholders - residents of Singapore, 24% - fully owned by foreigners, and 10% - owned by local and foreign shareholders. The share of enterprises with 100% foreign participation grew in the second quarter of this year by 2% to 24%. This is due to several reasons. First, US policy, under which the rate hike is postponed, and the country are heading for recovery. Secondly is the lack of restrictions on the registration of companies with 100% foreign participation. Thirdly, the presence of an extensive network of agreements on avoidance of double taxation, allow repatriating profits and avoiding paying capital gains tax.

Due to the ease of registering and running a business, a flexible tax regime with low corporate rates, the extensive network of international bilateral agreements, to Singapore comes more and more international investors and shareholders. Most of the subsidiaries established in the jurisdiction of the 2nd quarter of 2015 are the companies of the British Virgin Islands, Hong Kong, USA, Australia, Japan, India and the UK. The highest share is in the BVI (7%). The share of the US subsidiaries has increased by 2% to 5%.

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