Open a Company in the Healthcare Field in Singapore
Open a Company in the Healthcare Field in SingaporeUpdated on Friday 27th April 2018
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The healthcare industry is currently one of the most prolific economic sectors in Singapore, as the authorities have managed to allocate only 4% of the Gross Domestic Product to create an excellent medical system which covers all the needs of the population. The Ministry of Health has committed over the past few years in integrating both the public and private hospitals in 6 regional healthcare hubs which provide the best services and care to patients.
Foreign investors interested in starting a business in the healthcare field in Singapore will find one of the best medical infrastructures in the Southeast Asian regions to set up their companies on. Our lawyers in Singapore can explain the legislation related to opening a healthcare company in the city-state.
You can also watch our video on how to create a business in healthcare in Singapore:
Registering a healthcare facility in Singapore
Before one gets started with the company registration process of a healthcare business, it should be noted that there are various types of activities the company can undertake. First, one will decide on the undertakings of the company following which they can start the formation process. Foreign investors must appoint a local representative when opening a company in the healthcare sector in Singapore. They can rely on the services provided by our law firm in Singapore for assistance in opening the company.
Types of healthcare businesses in Singapore
We mentioned above that there are various types of businesses one can open in the Singapore healthcare industry. Among these are:
- - hospitals;
- - therapy centers;
- - medical technology companies;
- - pharmaceutical companies;
- - bioengineering companies;
- - research and development companies.
Based on the field of activity, the Singapore healthcare company will need to obtain an authorization from the Ministry of Health and the Health Sciences Authorities in the city-state. Special licenses are also required when opening healthcare companies in the city-state.
Singapore as a regional medical hub
Foreign investors who want to set up companies in the healthcare sector in Singapore should know that the Lion City offers one of the best business environments in the region which is completed by the talented labor force and a strong biomedical industry. Singapore is considered a gateway to Asia where medical technology and healthcare services can be exported. Singapore is also home to some of the most important healthcare organizations in the world, among which the International Diabetes Federation.
If you want to open a healthcare business in the city-state, please feel free to contact our Singapore lawyers.