Registering a business in Singapore is a relatively fast and easy process that can be done as fast as within a day. However, applying for business licenses in Singapore is much more complicated as certain types of businesses require a special license before they ca operate. Listed below are some of the industry-specific licenses that must be obtained in order to run a particular business in Singapore. In general, it may take 2 weeks to 2 months for a business license or permit to be fully processed.
Let’s figure out the importance of business licenses, the procedures of obtaining your business license, and an industry deep-dive on the specific licenses required!
What Is a Business License & Why Is It Important?
Once you have successfully registered your company with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore, the next step is to obtain and apply for business permits and licenses pertaining to the industry your business is in.
As more local and foreign small and medium enterprises (SMEs) are born out of Singapore, the government requires businesses to apply for permits and licenses to understand and regulate business activities. There are plenty of governing agencies for various industries to apply for licenses, and this may be confusing, especially for foreign-owned companies.
Understanding the business licensing needs of each industry is crucial before you operate your business as failure to comply with such regulations can lead to expensive fines and affect future business operations.
Industries That Require Business Licenses in Singapore
The number of business licenses differs from industry to industry, and most even do not require any license to operate! For industries that require business licenses, they include:
Procedures of Business License Application in Singapore
After knowing some of the types of business licenses required for various industries, the next step is to apply for them. Every industry and every application have their own unique process, hence, there is no one standard procedure for license application.
Let’s illustrate an example:
Application of a Business License for a Recruitment Firm
Application of a License for an Event
Starting A Business in Singapore
While it can be confusing, business licenses in Singapore are important if you would like to set up a company in Singapore that falls within the list of industries that require a license. There are plenty of business opportunities in the growing industries within Singapore that entrepreneurs and business owners can tap into.
FAQs
The number of business licenses required is dependent on your nature of business.
The terms and conditions as stated on the S Pass will determine if the S Pass holder is allowed to register a business. Those who are unsure should consult the Ministry of Manpower (MOM).
A foreigner needs to apply for an Employment Pass (EP) to register a business and act as the local manager of the business. To do so, the foreigner must also have a Singapore residential address. Proper approval from ACRA is, of course, required.
Although it is possible for a foreigner to use other valid work passes before registering a business in Singapore, it is much simpler and more manageable for foreigners to do so if they use the EP for this purpose.
Many companies in Singapore require additional business licenses before they may begin business operations. However, this is not necessarily true of every company in Singapore. This is because the licenses required, if any, differ from industry to industry.
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Hi Paul, I’m planning to join a partnership with my fren who own an eyelash extension shop. Currently I’m holding an EP, in the MNC company, I knw if i give up the EP, I’m difficult to get the PR as I’m also planing to re-apply for it after the 2 times rejected.
Hi Veni
While maintaining your current EP, you can apply for a new EP under the new company. Only once your new EP is approved, will your original EP be cancelled. Alternatively, if your friend is a Singaporean, they can incorporate the company under their name. You can also submit your PR application using your EP with the MNC currently, or under the new company that you are setting up. Please contact us via Paul Hype Page to discuss further.
Thank you for your question.
Warm regards
Paul
Hi Paul,
I looking to set up a vending machine business in Singapore. The goods i going to selling which supplier from oversea. I have yet to register any license and business entity, so what kind of license should I apply for?
Hello Teng Seong,
It depends what kind of products you are selling, different license applies. For example if it is food, You may apply the license online from Singapore Food Agency’s website.
You will need to setup a company before you can apply, We will be able to assist you in company incorporation. Contact us should you need more assistance.
Paul
helo
am looking to setup a trading company in singapore to export goods from singapore to middle east (kuwait)
please give more details about how to open a limited company to export goods from singapore to kuwait
thanks
with regards
Feroze ali
Hi Feroze,
Our company specializes in helping entrepreneurs like yourself set up a business quickly and efficiently in Singapore through our all-in-one Incorporation with Employment Pass package. Our dedicated team will contact you regarding the information that you need. In the meantime, please contact us paulhypepage@php-cpa.com.sg if you have any further queries you would like us to assist with.
Cheers,
Paul
Hi! We are going to incorporate in Singapore as transport broker. We will provide intermediary services in transportation and logistics. Can your company help us to incorporate and obtain licenses if needed?
Dear Paul,
We are happy to be of service. Our Corporate Specialists can provide you with a smooth one stop solution from incorporation to your business setup. Do drop us an email at paulhypepage@php-cpa.com.sg for more details and charges. We look forward to working with you!
Cheers,
Paul
Hi sir,madam
I am Rasika and from srilanka.my business type is telecommunication.my srilankan shop name is SG Mobile.I am buying some items from sg and selling in my country.please I want to know how can I get business licence in sg..last time my wife worked there as a nurse past 4 years.she still planning to work in future.so can I open new shop in sg?waiting for your best response.thank you
Dear Rasika,
The best way will to setup a Private Limited company in Singapore. We will need more details from you about what kind of licenses you need to advise more. Do drop us a note via CONTACT US page.
Paul