Guide to Business Licenses and Permits in Singapore
A business license in Singapore is a authorization granted by a government agency that permits you to operate a particular type of business. To obtain a business license, your company must first be registered with the registrar of companies. If you’re considering starting or managing a business in Singapore, you might wonder if you need licenses or permits for legal operation. The necessity of such licenses depends on the nature and extent of your business activities, as well as the regulations set by relevant government agencies.
How to Find Out If Your Business Needs a License or Permit?
Most businesses in Singapore do not require licenses or permits to operate, except for the registration of a company or firm with the Accounting and Corporate Regulatory Authority (ACRA). However, some businesses are exceptions to this general rule, as they need approvals from the respective authorities before commencing or continuing their operations. These include businesses that are involved in:
- Â Financial or funds management services
- Â Educational institutions or services
- Tobacco and liquor retailing
- Â Restaurants or food establishments
- Â Travel agencies
- Â Employment or human resource agencies
- Â Dormitory services
- Â Building and construction
- Â Air transport and etc….
Requiring licenses or permits for certain businesses serves to ensure their compliance with public health, safety, security, environmental, and social responsibility standards and requirements. Failure or negligence in obtaining these licenses or permits may lead to penalties, fines, or the cessation of operations.
To determine if your business requires any licenses or permits, you can utilize the online tools offered by GoBusiness, a one-stop portal for businesses in Singapore to access government e-services and resources. You can also explore the list of licenses and permits categorized by sector or by agency.
Application Process
The application process for a business license or permit in Singapore may vary depending on the type and scope of the license or permit. However, the general steps are as follows:
• Check if your business needs a license or permit from the relevant authority.
• Prepare the necessary documents and information for your application.
• Submit your application online or by mail to the relevant authority.
• Pay the required fees for your application.
• Wait for the approval from the relevant authority.
• Receive your license or permit certificate from the relevant authority.
Some licenses or permits may require additional steps, such as inspections, tests, interviews, hearings, or appeals. Some licenses or permits may also have validity periods, renewal requirements, reporting obligations, or conditions for compliance.Before proceeding, it’s advisable to consult the relevant authority for detailed information regarding your specific license or permit requirements. In Singapore, establishing a business is remarkably straightforward, thanks to a streamlined licensing procedure. By ensuring you have all the necessary documentation and meet all other requirements, you can significantly reduce the likelihood of your license being rejected. Singapore’s business-friendly environment, characterized by its ease of doing business, makes it an attractive destination for start-ups.
While some of the issues regarding licenses and permits can be handled on your own, it is usually a good idea to engage a professional services firm to save you time and resources.
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