Foreign citizens and companies remained some of the most important investors in Singapore last year, according to a recent report drafted by the government. Most of them registered new companies in Singapore rather than expanding an existing business which highlights Singapore’s economic stability compared to the unstable global economy. This is the most important proof that Singapore has a good reputation among foreign investors. If you are interested in starting a business in the Lion city, our Singapore company formation specialists can advise you.
The number of companies established in Singapore in 2016 was in line with the number of businesses registered in 2015, which is what determined analysts to say that the steady flow of foreign investors coming here is very important for the country’s economic health. The Singapore company formation number reached 64,748 last year, 0.1% higher than in 2015. Even so, this number is in line with the specialists’ expectations. They also announced that a small drop in the company registration numbers is normal during the last quarter of every year.
If you want to open a company in Singapore, our local agents can offer information on the legislation related to this process.
One of the big surprises of 2016 was the increase of exempt private companies being used to open a Singapore company. It was closely followed by branch offices of large foreign companies. Towards the end of the year, non-exempt and public companies registered a higher increase in registration numbers.
Foreign investors were also interested in owning shares in local companies not only in Singapore, but all over Asia. On a year-to-year basis, the portion of foreign shareholders in Singapore companies rose from 35% in 2015 to 51% last year.
When it comes to foreign individuals, most them come from India, Malaysia and China, while professional investors are countries like Philippines, Japan and South Korea.
Based on the proposals of the Committee for Future Economy which were released at the beginning of 2017, analysts are positive about the number of new companies to be registered this year.
For assistance in starting a business here, please contact our company formation consultants in Singapore.