Foreign Entrepreneurs Buying Out Shelf Companies in Singapore
September 30th, 2011September 30th, 2011—Singapore—Demand for shelf companies in Singapore has showed no signs of slowing down as more and more foreign entrepreneurs are trying to enter the Singapore market each year. Although Singapore has one of the simplest foreign company formation procedures in the world, many foreign business owners prefer to buy out a shelf company in the country to start their Singapore operations without any delay.
According to SingaporeStartup.com (www.singaporestartup.com), several of the shelf companies created by local businesses in the country are sold out immediately after they are put on sale and there are fewer inventories available now for foreign business owners. Entrepreneurs who absolutely cannot wait to complete the formalities of the new company formation prefer buying out shelf companies and they are ready to pay a premium for the same. Singapore’s growing stature as a business destination and a world economic power has also resulted in an increase in demand for such companies in the country. Shelf companies provide the fastest route to entering Singapore and transferring of shares to the foreign owners are extremely simple as per the Companies Act in Singapore.
SingaporeStartup.com, which is one of the premier portals in the world focused on offshore company formation in Singapore, feels that demand of shelf companies shall continue to remain the same for several more years to come. As long as Singapore can maintain its amazing economic growth and provide the best possible infrastructure for businesses to operate efficiently, there will be many takers for the shelf companies created specifically for sale to foreign business owners. There have also been several developments lately that have enhanced Singapore’s attractiveness for foreign entrepreneurs. Singapore has been ranked in the number 2 position in economic competitiveness in the world by the World Economic Forum. The country has also been hailed as one of the most stable nations in the world and a relatively risk-free destination for foreign investors.
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