Most investors are not required to obtain licenses or permits when registering a company in Singapore. However, there are few activities regulated by specific authorities and companies carrying out these activities are required to apply for special licenses and permits with the relevant authorities. Among these are private schools and childcare centers, restaurants serving liquor, retailers, financial institutions and import and export companies in Singapore. In order to apply for a special license or permit, one must first register the company with the Accounting and Corporate Regulatory Authority in Singapore.
Find out from this video below what type of activities need special licenses or permits in Singapore:
The first type of special licenses issued for Singapore companies are the business activity licenses and permits. These licenses are usually required if the company wants to carry out certain activities that do not appear in the Singapore business’ bylaws. Among these are:
For a detailed list of controlled goods you may contact our law firm in Singapore.
Another type of business licenses is the compulsory license. Among these are schools are financial institutions in Singapore. These types of business must apply for the appropriate special license when the company is registered. These types of special permits are usually issued within 14 days to 2 months.
Foreign citizens supplying professional services in Singapore are also required to apply for occupational licenses. The categories requiring an occupational license are: doctors, accountants, pilots and Singapore lawyers.
One of the most thriving industries in Singapore is retail. However, when setting up a business in the retail sector, foreign entrepreneurs will be require to apply for several special licenses. Among these:
For a complete list of all special licenses and permits required to start a business you may refer to our lawyers in Singapore.
There are no comments