Establishing a company in Singapore, business owners need to obtain a specific business license. A business license is mainly a permit issued by the government of Singapore allowing the organization or company to conduct a particular type of business.
However, to apply for a business license in Singapore, the company must first get incorporated and registered directly with the registrar of Companies in Singapore. Usually, it takes two weeks to two months to obtain a business license from the Singapore government.
Only certain types of businesses need to obtain a special business license in Singapore before operating. Below is the list of industry-specific business licenses that you must get to run a particular type of business.
Running A Spa
To provide a full-body massage, manicure treatments, Spa baths, pedicures, etc., you need a Massage Establishment License in Singapore.
Travel Agency
All the travel agents in Singapore need to obtain a travel agency license from the Singapore tourism board.
You don’t need a travel agency license in the following cases:
- If the company owns convenience.
- The company owns the place of accommodation for tourists.
Event Management Companies
Event management companies need to obtain several business licenses from the Singapore government varying as per the type of events. Some of the examples of business licenses that event management companies may need to obtain are:
- Arts Entertainment License
- Copyright Permit
- Public Entertainment License
- Trade Fair Permit
- Animal Exhibition License, etc.
Retail Outlets
What kind of products you sell at your retail outlet will decide your business license type. For example, if you plan to start a Supermarket, you need a Supermarket license as per the Environmental Public Health Act. Whereas if you plan to begin a Pharmaceutical retail outlet, you need a certificate of pharmacy registration from the HSA (Health Sciences Authority).
You need a telecommunications dealer’s business license to sell telecommunication products in your retail outlet.
Construction
If you anyhow plan to start a construction company in Singapore, you need to obtain some special permits from the government. Firstly, you need work permits with the MOM (Ministry of Manpower) to hire workers from a foreign land. Secondly, if you plan to provide professional engineering services, you need a business license from PEB (Professional Engineers Board). Lastly, you also need to apply for a permit from the land transportation authority for road occupation management if your project’s equipment needs parking on the road.
Employment Agencies
All business entities and individuals engaged in providing employment agency activities in Singapore need to obtain an employment agency license.
Financial Services
Having a capital markets services license is essential for all the companies in Singapore that provide services like fund management, future and option trading, intraday trading, etc. On the other hand, financial Advisors who offer only advice on investment products can apply for a financial Advisors license in Singapore.
Fortunately, banks and insurance companies in Singapore don’t need this license as the Monetary Authority of Singapore monitors these companies.
Business License For Publishing
In Singapore, all the printing and publishing companies require a newspaper permit from the IMDA (Infocomm Media Development Authority). A printing press license is mandatory only for the companies that wish to operate a printing press, whereas if you plan to publish online news, you can only register with IMDA.
Also, if you are starting a radio station, you need a General Radio Communication business license.
Get One Stop Solution From Inctro
Starting a new and fresh business in Singapore is relatively much easy, yet specific complex business licensing procedures and regulations are mandatory to follow. So, instead of navigating through a comprehensive list of business licenses, it is better to get assistance from a professional and qualified corporate service provider who can help you save your precious time and money.
At Inctro, we provide all the support services to help you establish your company sooner with little hassle. Some of our services are business support solutions, company incorporation, helping to acquire business licenses and permits, etc. So, if you need any assistance to establish your company in Singapore, feel free to reach out.