Singapore Business Licenses and Permits

Feb. 22, 2010 - PRLog -- Typically application for licenses and permits in Singapore can only be done after successful incorporation of your company; however, in a few instances, application for licenses and permits is done simultaneously with the application for name approval from Accounting and Corporate Regulatory Authority (ACRA), from which, the ACRA system will indicate if another approving authority is required to grant licenses or permits.

There are several businesses that will require licenses or permits to operate. Private schools, travel agencies, liquor distributors, moneylenders, banks, childcare centres, importers/exporters, wholesalers and retailers of liquors are some examples of businesses that require license or permits by the Singapore authorities.

Financial or Funds Management Services

Monetary Authority of Singapore (MAS) oversees the issuance of licenses for financial and funds management services. There are essentially three types of licenses:

   * Capital Markets Services License for businesses that work with securities.
   * Commodity License issued for commodity trading agencies.
   * Financial Adviser License for financial firms that provide advisory services to the public.

Educational Institutions

Setting up an educational institution or to provide educational services usually requires one or more licenses to operate. Each of the licenses is issued by a different government authority; it can be the Ministry of Community Development, Youth and Sports and/or Ministry of Education.
Tobacco and Liquor Retails

You will need a separate license to sell tobacco and liquors in Singapore. A Tobacco Retail License issued by Health Sciences Authority of Singapore will permit you to sell cigarettes, cigars and other tobacco products. Each license issued is only for a single retail outlet. If you have multiple retail shops, you will need to obtain licenses for all of them.

There are different types of liquor licenses with each type for specific business activity. A Wholesale Beer License is just for wholesaling of beers and therefore different from a Retail Beer License. Depending on the nature of your business establishment, Asiabiz can assist you in finding the appropriate business license.
Restaurants

All food related businesses are required to have a Food Shop License from National Environment Agency (NEA), which will conduct an inspection prior to issuing a license. There are other licenses that are required based on the food and beverages that will be served in the restaurant.
Travel Agencies

Travel agencies in Singapore that sell tickets for individuals or groups to travel outside of Singapore are required to obtain a travel agent’s license with Singapore Tourism Board (STB).
Employment or Human Resource Agencies

If your business involves recruitment and job placement services for individuals and companies, you’re required to obtain an Employment Agency License through Ministry of Manpower.


Visit our website for more info on Singapore Employment Pass, Singapore Company Incorporation, business setup and registration

http://www.asiabizservices.com

# # #

AsiaBiz is a one-stop corporate solution for all your Singapore company incorporation. Our mission is to facilitate our clients to breeze through all their corporate needs from the incorporation process, accounting, tax and immigration http://asiabizservices.com