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The Basics of Industry Specific Business Licenses in Singapore

The Basics of Industry Specific Business Licenses in Singapore.

Although most businesses don’t really require any sort of licensing to carry out business activities in Singapore but they do need to get themselves registered with ACRA (Accounting and Corporate Regulatory Authority).

On the other hand, a business license is something that allows you to operate a specific type of business in Singapore. In order to qualify for a specific type of business the company must be first registered.

Here is a brief insight into the basics of some of the most prominent industry specific business licenses in Singapore:

Retail Businesses

Licensing requirements vary based on products being sold:

  • Tobacco retail: license is issued by Health Sciences   Authority
  • Liquor: license is issued by Liquor Licensing Board
  • Telecommunication: license is issued by Infocomm Development Authority (IDA)
  • Pet shop: license is issued by Agri-Food and Veterinary Authority of Singapore (AVA), if you intend to use a premises for display, sale, or export of pets
  • Pharmacy: license is issued by Health Sciences Authority in Singapore

Construction Business

Applying for a construction business can be a lengthy task. You need to contact a number of different authorities to be eligible for setting up a construction company. More importantly, you need to be registered with the Ministry of Manpower (MOM) for work permits in order to hire labor.

Hotels

You need to acquire different licenses and approvals in order to setup a hotel in Singapore successfully. You need the principal Hotelkeeper’s license from the Hotels Licensing Board additionally you need permits for housing TVs, running a spa and selling tobacco products.

Spa

You need to acquire a Massage Establishment License to offer services like foot massage, manicure treatments, and other related services.

Medical Clinic

You need three licenses to setup a clinic and carry out medical procedures. First, you need a Medical Clinic License, which is mandatory for all clinics. Second, you need a license for dealing with hazardous chemicals and third, you need licenses to carry out medical procedures like liposuctions and abortions.

Educational Institution

Setting up an educational institution requires you to acquire a number of different licenses, which are issued by different government authorities, like the Ministry of community Development, Youth and Sports, or the Ministry of Education.

These are some of the most prominent industry specific businesses in Singapore. Singapore follows strict quality and regulatory standards in all aspects and it is in your best interest to acquire an industry specific license so that you don’t face any trouble later. Be sure to contact us if you need any help with licensing your business! Stay tuned!

 

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Paul Hype Page & Co. is an ACRA-certified business adviser. Our team of seasoned professional can help you set up a company in Singapore very quickly and easily following all legal entities, and offer you sound advice on how to make it successful too.

What Are The Guidelines For Foreigners to Start a Business in Singapore4

In addition to business registration, we’ll also guide you how to:

  1. Write a business plan – Learn how to write a compelling business plan by accessing our sample business plans, or other helpful market research information
  2. Perform market research – Understand your business market, learn how it can enhance your business growth, and how to properly conduct a market research for your business
  3. Corporate Secretary Services – If you are registering a company in Singapore, you will need a Corporate Secretary. Corporate compliance in Singapore is a complex legal requirement for all Singapore registered companies. Our company secretarial team helps our clients and their officers to fulfil their statutory obligations in an efficient manner.
  4. Manage your finances – We’ll offer you the best resources and information to help you fully understand all financial concepts and teach you how to perform basic accounting tasks like budgeting, bookkeeping, financial analysis, among others

To further aid you, we have provided here a resource area with industry specific information and other industry resources to help you successfully start and run your business.

  1. Singapore Business Opportunities 
  2. Singapore Business Licences
  3. Singapore Tax Planning
  4. Singapore Company Incorporation
  5. Singapore Company Yearly Statutory Requirements
  6. Singapore Working Visa Guide

By Eric Eio
Managing Partner of Paul Hype Page & Co.

Eric was awarded an ACCA graduate in 2000 and also graduated from University of Sydney with a Bachelor degree in Computer Science & Accounting. Since graduation, he had worked in Big 4 as an auditor , including a one year overseas stint with Ernst & Young, Shanghai in 2005. He left his last appointment as an Audit Managerial position with PricewaterhouseCoopers, Singapore in 2008 before setting up his own Certified Public Accountant Practice – Paul Hype Page & Co. His firm is being selected to be one of the advisory panel for Singapore top 500 SME.