GuideMeSingapore Publishes Guide on Setting up a Commodity Trading Business in Singapore
September 17, 2012 | No Comments
Singapore?s leading business portal provides guide for the setup and operation of a successful commodities trading business in the city
SINGAPORE, Sept. 17, 2012 /PRNewswire/ ? GuideMeSingapore, the leading information portal focused on Singapore business registration and relocation, has published a two-part guide for setting up a commodity trading business( http://www.guidemesingapore.com/industry-guides/commodity-trading/commodity-trading-singapore-licenses-regulations ) in the Asian financial hub.
The first part of the series provides an overview of the legislation, licensing, and compliance requirements for a business that trades over-the-counter commodities derivatives. It explains the current state of regulations in Singapore pertaining to commodities trading, including the Commodity Trading Act( http://www.mti.gov.sg/legislation/Pages/Commodity%20Trading%20Act%20%28Chapter%2048A%29.aspx ) (CTA) of 1992. It also describes the various types of commodities trading licenses that are available, and the process for obtaining them.
The second part focuses on the ongoing compliance requirements for a business that is engaged in commodity trading. Singapore has a highly regulated and well organized compliance framework for commodities traders and other businesses involved in financial investments. As a result, entrepreneurs looking to take part in the industry will need to make sure they follow all requirements for audits, record keeping, financial statements, and disclosures.
The series complements GuideMeSingapore?s guide on the Global Trader Programme (GTP)( http://www.guidemesingapore.com/industry-guides/trade/singapore-global-trader-scheme ). The GTP was an initiative launched by the Singapore government in 2001 which encourages trading companies to set up in Singapore by providing special tax rates.
?Singapore has long established itself as Asia?s commodities trading hub. From gold and other metals to petrochemicals and crude oil, we are seeing more global trading companies setting up in Singapore,? said Ms. Jacqueline Low, Chief Operating Officer at Janus Corporate Solutions, a leading Singapore company setup services( http://www.guidemesingapore.com ) firm and the parent firm of GuideMeSingapore.
?In fact, the city has attracted some of the biggest names in the industry. In early June, commodities giant Trafigura decide to move its operations base from Switzerland to Singapore. The company also has more plans to expand its offices in the city due to its strategic location in the Asian region as well as the tax benefits provided by the GTP,? she added.
About Janus Corporate Solutions Pte Ltd
Janus Corporate Solutions Pte Ltd is a leading Singapore-based firm that provides comprehensive and cost-effective Singapore company registration, immigration visa, accounting and tax filing services to businesses and entrepreneurs worldwide. For more information, visit http://www.guidemesingapore.com
Media Contact:
Jacqueline Low
+65-6222-7445
media@guidemesingapore.com
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