Successfully completing your company registration in Singapore is a significant first step, but it’s just the beginning for many specialised industries. While all businesses must register with the Accounting and Corporate Regulatory Authority (ACRA), certain sectors require additional industry-specific licences to operate legally. This ensures businesses meet the stringent standards set by various government agencies to protect consumers and maintain quality.
Navigating Sector-Specific Requirements
Industries such as food and beverage (F&B), education, and financial technology (fintech) have unique regulatory landscapes. For instance, an aspiring restaurant owner must secure a Food Shop Licence from the Singapore Food Agency (SFA) after their initial business registration.
Similarly, a private education institution needs approval from the Committee for Private Education (CPE) before enrolling students. Navigating this extra layer of compliance is crucial for a smooth business launch and avoiding potential penalties. This process is a vital part of your company registration.
The Importance of Due Diligence
Did you know that Singapore has over 200 business licences for various activities? Failing to secure the right ones before commencing operations can lead to hefty fines or even forced closure.
For example, fintech companies dealing with payments must often obtain licences from the Monetary Authority of Singapore (MAS). A successful ACRA company registration is the foundation.
Still, thorough research into your industry’s specific licensing needs paves the way for long-term operational success and credibility in the market.
Get Expert Guidance
Understanding the intricate licensing requirements for your specific industry can be complex. Let our team of experts guide you through every step of the process, ensuring full compliance and a seamless start for your business.
