Companies in some of Singapore’s industries require very few licenses for company incorporation. This is because the government deems it suitable to increase the ease of starting a company in these industries for various reasons.

Which Industriesrequire the fewest Licenses for Company Setup in Singapore

Business licenses are an important part of starting any company, whether it be in Singapore or anywhere else in the world. Of course, certain industries in Singapore require their companies to possess many different licenses before embarking on any business ventures. On the other hand, there are others which impose relatively few licensing requirements upon their companies. Companies which are in such industries therefore require relatively few licenses before beginning their business operations.

On a related note, should you be interested in starting a Singapore-based company of your own regardless of which industry the company will inhabit, you can always use the professional assistance which is provided by us at Paul Hype Page & Co. We will see to it that when we help you incorporate a company in Singapore, every step of the process will be completed in a legal and genuine manner. We will also assist you with the obtaining of any necessary business licenses.

 

Why Business Licenses Are Important

It is crucial for any company based in Singapore to acquire all of the necessary business licenses. There are several reasons why such business licenses are of great importance to the companies of Singapore. The most important of these, of course, is the fact that in many cases, it is a legal requirement to obtain certain business licenses. Certain businesses are not permitted to operate without possessing such licenses. Business licenses also make it much easier for government and other authorities to monitor the business activities of companies. In

this way, the authorities will be able to ensure that the companies with licenses are not involved in any illegal or unethical activities. If they are, the authorities will be able to act accordingly. Business licenses also provide verification for the business activities of the company. In this way, they increase the level of transparency involved in the company’s operation and therefore cause the company to gain a more professional reputation.

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Industries Which Require Fewer Licenses and the Reasons for Such Requirements

There are specific reasons behind why each industry which has companies requiring relatively few licenses for business operation in Singapore is granted such privileges. Among these is industries is the private educational industry. Singapore has always taken great pride in the outstanding quality of the country’s educational system. Therefore, the government of Singapore deems it suitable to impose more relaxed licensing requirements pertaining to businesses involved in the educational field. This is the case because by encouraging the setup and operation of educational businesses in Singapore, the government believes that the country’s already impressive educational standards can be further increased.

Tourism-related companies and businesses which are based in Singapore also require relatively few licenses before they may commence business operations. The Singaporean government has been attempting to increase the amount of revenue generated by the country through tourism. Tourists who enter Singapore will spend a considerable amount of money while there and therefore make significant contributions to the economy of the country. Thus, the government has perceived that this opportunity to increase the country’s overall revenue is one which could easily be taken by reducing the number of licenses required to start a company in or connected to the tourism industry of the country.

The licensing requirements which are imposed on employment agencies based in Singapore are also fairly lenient. Employment agencies perform the important task of enabling job-seekers to be hired by a company of their choice. Therefore, employment agencies play a role in reducing the unemployment rate of the country. For this reason, it should come as no surprise that the government of Singapore actively encourages the success of the business activities of Singapore’s employment agencies. One way in which it does so is by ensuring that the licensing requirements imposed upon the employment agencies of Singapore are among the least burdensome among those of all Singapore’s businesses.