Singapore Business Licenses & Permits Guide 2024

Registering a company in Singapore is quick and easy, often done within a day. However, obtaining singapore business licenses and permits is more complex, as certain businesses require special licenses to 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 and permits, 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 licensing needs of each industry is crucial before you operate your business. Non-compliance can lead to expensive fines and impact future operations.

Singapore’s Business License Requirements

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:

Retail

Even in the retail industry, there are different licensing requirements based on the products sold. For instance,

• Liquor – issued by the Liquor Licensing Board
• Pet Shop – issued by the Agri-Food and Veterinary Authority of Singapore (AVA)
• Pharmacy – issued by the Health Sciences Authority in Singapore
• Telecommunication – issued by the Infocomm Development Authority (IDA)

Construction

Starting a business in the construction industry can be a challenge with the requirements of applying for numerous business licenses and permits by different authorities. More importantly, you will need to be registered with the Ministry of Manpower (MOM) for work permits before hiring.

Trading

Obtaining your import and export permits via TradeNet will be the next step after incorporation. If you plan to trade products such as vegetables, films, pharmaceuticals, or video games, you need to apply for another set of licenses.

However, some prohibited and controlled goods cannot be imported into Singapore.

Spa

As travel is limited, more Singaporeans are pampering themselves, making the spa services sector a lucrative venture to explore. In order to do so, you will need a Massage Establishment License to offer services like foot massages, manicure treatments, and other related services.

Financial Services

Thinking of setting up a fund management or securities business? Selected entities such as banks and their employees are exempt from needing the Capital Market Services License. If incorporating as a financial advisory firm, you must obtain a Financial Adviser License.

Read the full guide on obtaining business licenses in the financial services!

Food & Beverages

Opening a restaurant or F&B establishment will require business owners to apply for the Food Shop License from the National Environment Agency (NEA). If you’re a Halal establishment, you can attain the certification from the Islamic Religious Council of Singapore (MUIS).

Certain licenses and permits may or will be required depending on the nature of your F&B establishment. These include a Liquor License, Halal Certification, Goods and Services Tax (GST) registration, and a License for Importing Food Ingredients, among others.

Publishing

Another industry that requires quite a number of business licenses is the publishing industry. Examples of licenses to apply for include Newspaper Permit from Infocomm Media Development Authority (IMDA) for newsletters printing and publishing, Printing Press License for operating a printing press, and more.

Shipping

Shipping companies need a Harbour Craft License to operate their vessels within Singapore’s port, and they must obtain a Port Clearance Certificate for operations beyond Singapore’s borders. Other business licenses include Ship Registration Clearance, Port Limit Manning License and more.

Employment agency

All employment agencies in Singapore need an Employment Agency License before starting business activities. This is irrespective of whether the agency is based in Singapore or overseas and regardless of whether it deals with jobs in Singapore or abroad.

Travel agency

To conduct business as a Singapore travel agent, you need a travel agency license. You must apply online and declare any shareholdings in other travel agencies. The authorities will respond by sending an In-Principle-Approval (IPA) letter via postal mail. The IPA letter might outline conditions that you need to fulfill before receiving final approval.

Private education business

There are certain mandatory licenses that one needs to obtain in order to set up an educational establishment in Singapore. The specific licenses needed depend on the type of education establishment you are planning to set up. All private organizations and establishments providing education to 10 people and above must register with either the Ministry of Education (MOE) or the Council for Private Education (CPE).

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

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.