Key Industry Trends

As the industry moves toward automation and innovation, digital platforms for company registration, compliance management, and accounting services have become commonplace. The corporate services sectors in Singapore and Hong Kong are progressively embracing digital technologies to improve productivity and customer satisfaction.

Corporate service providers are expanding their portfolios to incorporate value-added services like risk management, market entrance tactics, and business advising. The goal of this diversification is to increase market share and satisfy the changing needs of customers.

The need for specialized compliance services has increased due to the complexity of international regulatory frameworks, such as know-your-customer (KYC) and anti-money laundering (AML) standards. The industry is expanding as a result of businesses in Singapore and Hong Kong increasingly using corporate service providers to help them deal with these regulatory obstacles.

In the business sector, environmental, social, and governance (ESG) factors are becoming more and more important. To assist companies comply with international sustainability norms, corporate service providers are responding by adding ESG reporting and advisory services to their list of offerings.