Business boom: 4,675 new firms formed in Singapore every month

Everyone is scrambling to get to the city.
 
Singapore saw a 14% increase in new business formations from April to June compared to last quarter, as the business environment in the city remains to be strong and the western economies continue to recover.
 
According to the Singapore Business Formation Statistics Report by Janus, of the 18,700 new formations this quarter, 44% are private limited companies. Most of these companies are Exempt Private Companies (EPCs) which are not required to annually audit their accounts. EPCs are companies with fewer than 20 individual shareholders and no corporate shareholder with annual revenue of under $5 million. EPC is the most preferred entity because of the relaxed compliance requirements and absolute limitation of the shareholders’ liability.
 
The business and investor community has strong confidence in Singapore’s economic potential, and remain to focus their eyes on the city, despite a marginal plunge this quarter.
 
Related: Singapore company formation
 
www.sbr.com.sg