All You Need to Know When Starting Different Businesses in Singapore


Singapore has made a name for itself for several good reasons. The city-state is among the most visited places in Asia. The country is a well-known tourist destination and business haven. Every year, many entrepreneurs and businesses open branches in the Lion City. Many factors have made the country good for business including good governance and policies. 

You might have read or experienced why the city-state is attracting so many businesses. As an entrepreneur, you are always looking for greener pastures. To reach your business goals, you need to grab the opportunities that tend to arise. Singapore is currently the best place to start a business and succeed easily. Like many other countries, there are different requirements you need to attain to be allowed to open a specific business. Below is what you need to know about various businesses and how to attain their licenses in Singapore.

Construction Business 

Singapore is well-known for its incredible buildings and architecture. Starting a construction business may end up being profitable since the country is still growing. Before you can start doing business related to construction, there are several things you need to do. You are required to have a license and work permits that have been approved by the city-state. You are also supposed to enlist your company as either a limited or unlimited company.

Retail Shop

Retail shops are among the many profitable businesses in Singapore. Retail shops are businesses that sell goods to the customers directly. You will be required to meet certain demands to be issued with a license depending on the type of goods you sell. 

It is important to note that if you are a foreigner, then you must have a visa before starting a retail business. This can be achieved by visiting singapore-visa.net, where you will find professional help. Those who are becoming entrepreneurs for the first time are required to have a pass. Getting a retail license is rather easy and fast in Singapore.

Employment Agency

As many of us have come to know, Singapore has many employment opportunities. The city-state has several sectors including the tourism, manufacturing, and health sectors, which are doing very well and still growing. Before starting your business operations in the country, you will be required to have an employment agency license. The license is issued by the country’s Ministry of Manpower. The ministry will also inform you of any other requirements you need to fulfil before starting your employment agency business.

Travel Agency

The country is well-known for having a reliable and efficient transport system. Singapore has a well-established tourism industry. Many tourists will need different means of travel, making the business profitable. Before starting a travel agency, you will be required to first set up a Singapore travel company. Your company should have a Singapore citizen as an executive. You will also be required to have a paid-up capital of not less than a hundred thousand Singapore dollars.

Conclusion

Singapore is acknowledged to have some of the best business policies. Investing in the country will be beneficial to any entrepreneur.

 

Leave a Reply

Your email address will not be published. Required fields are marked *