There are several business activities in Singapore which require specific licenses before they may commence operations. Restaurants, financial service providers, and schools all require specific licenses before they are legally permitted to be fully operational.

Licenses to be Obtained by those Starting Certain Businesses in SG

Certain business activities which are to be conducted in Singapore require one or more specific licenses before such business activities may be legally performed. Such is the case because the nature of these business activities demands that they be regulated through official methods via licensing. Among the businesses which require licenses before they may begin operations are restaurants, financial service businesses, and schools.

 

Licensing for Restaurants in Singapore

The most important license to be obtained by one who plans to start a restaurant in Singapore is the Food Shop License. The Food Shop License is issued by the National Environmental Agency (NEA). Those who are holders of a Food Shop License are granted the legal right to sell food and beverages. The premises upon which the restaurant is to be located will be inspected by the authorities before the owner of the restaurant will be granted the license.

Depending on the more specific details of the restaurant to be established, certain other licenses and permits may or will be required before business operations commence. These include a Liquor License, Halal Certification, Goods and Services Tax (GST) registration, and a License for Importing Food Ingredients, among others. Each of these licenses and permits relates to an important part of operating a restaurant in Singapore; thus, ownership of any of the preceding will do much to ensure the restaurant’s future success.

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Licensing for Financial Service Businesses in Singapore

Those who are starting a financial service business in Singapore must apply for one of two licenses which may be used by such businesses. The license to be used is dependent on the piece of government legislation which governs the activities carried out by the financial service business in question. One of these licenses is the Capital Markets Services License, which is meant for businesses which have their activities governed by the Securities and Futures Act. The other license which could be obtained is the Financial Advisers License. This license is intended for businesses which conduct business activities regulated by the Financial Advisers Act. There are, however, certain financial service businesses in Singapore which are eligible for certain licensing exemptions. Such exemptions allow the business in question to begin conducting its activities without possessing the license which would otherwise have been necessary. The entities benefiting from such exemptions include finance companies, banks, insurance companies, merchant banks, individuals who are acting on behalf of certain people, and certain employees of Singapore banks and merchant banks.

 

Licensing for Schools in Singapore

There are no exact licensing criteria which exists for schools in Singapore today. After registration with the Ministry of Education and the Council for Private Education, each school’s licenses which are required are determined by the nature, activities, and facilities of the school in question. Among the factors which may require a school in Singapore to require a license of some sort include the publication of a school magazine, the installation of television sets on school grounds, the selling of food and beverages on school grounds, the advertising of the school, and the importation of educational materials from abroad. Certain preschools and kindergartens might also be required to receive a license which certifies them as providers of childcare. Once all registration and licensing matters have been settled, the school may commence its operations.

Thus, it has clearly been shown that anyone who plans to start a financial services business, school, or restaurant in Singapore is to obtain one or more licenses which depend on the relevant business requirements. That being said, it should be noted that some might find it difficult to handle all of the licensing obligations which are required. This is where we at Paul Hype Page & Co come in. We will assist you with the management of all license-related matters so that in due time, you will be able to operate your restaurant, financial services business, or any other business in Singapore for which you require any license.