Singapore Business Permits and Licensing Guide
If your business operates in a regulated sector then you are required to secure a license before you can operate in Singapore. It is essentially a legal documentation that provides authorization to any entity to engage in a specific business. The first step in getting a permit is to register with Registrar of Companies. Once a company is registered then the next step is to apply for the specific license. Permits and licenses are issued anywhere from two weeks to two months depending on the business type. Below is the list of business types that require permits from Singapore authorities.
Specific licensing conditions
Each of the license will have its on specific licensing conditions. You as an entrepreneur will be required to satisfy those conditions before the license is approved. Some of the examples of these specific conditions are as follows;
- A travel agency is required to have minimum paid up capital of 100,000 SGD
- An employment agency is required to give a security bond of 20,000 SGD to 60,000 SGD depending on the type of license
- An importer of medicines is required to prove that he has proper system of record keeping to track batches of medicines and its expiry date
- A telecommunication operator with SBO(Individual) license must have 100,000 SGD as paid up capital
Summary
Even though many of the procedures involved in registering and securing permits and licenses in Singapore have been simplified, the specific requirements can be complex to understand. Engaging a professional firm for license application is always the best decision.
Check licensing requirements if your business is related to any of the following
| Advertising services | Storing, handling or dealing in Medicines, controlled drugs |
| Aerospace industry | Dealing in Poisons of any class |
| Architectural Services | Postal & courier services |
| Dealing in arms, weapons, explosives | Printing & publishing |
| Banking, insurance & Financial services (& allied fields) | Public Entertainment |
| Storing, handling or dealing in Chemicals | Using or dealing in radiation equipment |
| Childcare, education & training | Real estate, property dealing |
| Cinematography | School, Universities & Educational institutions |
| Clinics, hospitals, nursing & patient care | Second-hand good dealer |
| Commodities trading (Financial) | Security & investigation |
| Commodities Trading (Rice) | Telecommunication, Internet, wireless Transmission |
| Dealing in copyrighted material | Dealing in Tobacco, Cigarettes |
| Activities related to death & funeral | Toxic waste treatment |
| Employment & recruiting | Traditional Chinese medicines |
| Engineering Services | Travel agency |
| Entertainment, public performance | Use of premises for specific purposes |
| Food processing of any type | Utilities, gas, petrol |
| Food, restaurants & eating houses | sea going Vessel |
| Hotel & staying arrangements | Vet products & services |
| Dealing in Liquor | Waste Disposal |
| Massage establishments |