Singapore boasts one of the most advanced high-tech industries in the world and most of the services are offered online. The same principle applies when it comes to selling goods, as the number of online shops has exploded in Singapore.
Setting up an e-commerce business in the city state is not complicated as long as the local legislation is complied with. Among the laws providing for e-commerce are the Computer Misuse Act, the Code of Advertising Practice and the Consumer Protection Law. Our lawyers in Singapore can explain these laws to foreign investors who want to create online stores here.
Before starting the company registration procedure which is mandatory even of the company will carry out its activity online, a local or foreign enterpriser must draft a good business plan which will allow him or her to stand out among competitors. This is because Singapore e-commerce scene is full of online shops. Focusing on niche products and suitable advertisement campaigns are among the ways to ensure the success of an e-commerce company.
We mentioned earlier that the first step to have a Singapore e-commerce business is to register a company with the Trade Register. This process is completed the same way as for a traditional business and can be handled by our law firm in Singapore.
Once the company is incorporated, the purchase and registration of a website with the .com.sg domain name is advised. This domain name is used for carrying out commercial activities in Singapore.
The laws mentioned above provide for certain obligations of e-commerce businesses in Singapore. First of all, these are required to protect the personal information a buyer submits when making a purchase. In order to do that, secure payment services such as merchant accounts are recommended.
E-commerce companies must also comply with the regulation related to electronic contracts and must display a valid address, a phone number and e-mail address of the company administering the website.
For full information on the requirements to be respected by e-commerce businesses, please contact our Singapore lawyers. You can also rely on us for assistance with the registration of the company with the Trade Register.
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