Introduction: Navigating Singapore’s Regulatory Framework
Singapore is globally recognised for its “Ease of Doing Business.” While incorporating a company with the Accounting and Corporate Regulatory Authority (ACRA) is a fast and digital process, certain business activities require additional approval from specific government agencies.
A business license or permit is a legal requirement that allows you to conduct specific types of operations. Whether you are opening a cafe in Tiong Bahru, launching a FinTech startup, or starting an e-commerce brand, understanding your licensing obligations is critical to avoiding fines and operational delays.
This guide provides a comprehensive industry-wise breakdown of the most common business licenses required in Singapore and the digital tools available to help you secure them.
Key Takeaways
- The GoBusiness Portal: The central digital hub for all business license applications in Singapore.
- SSIC Codes Matter: Your Singapore Standard Industrial Classification (SSIC) code determines which licenses you may need.
- Three Types of Licenses: Compulsory (for the entity), Occupational (for individuals), and Activity-based (for specific tasks).
- Varies by Industry: Highly regulated sectors like Finance and F&B have more rigorous requirements than general retail or consultancy.
- Compliance First: Operating without a required license is a criminal offence in Singapore and can lead to the immediate closure of your business.
1. Food and Beverage (F&B)
The F&B sector is one of the most strictly regulated in Singapore to ensure public health and safety.
- Food Shop License: Issued by the Singapore Food Agency (SFA). This is mandatory for any premises where food and/or drink are sold.
- Liquor License: Required if you intend to serve alcohol. Issued by the Liquor Licensing Board (LLB).
- Halal Certification: Optional but highly recommended for reaching a broader market. Issued by MUIS (Majlis Ugama Islam Singapura).
- Tobacco Retail License: Issued by the Health Sciences Authority (HSA) if you intend to sell tobacco products.
2. Finance and FinTech
As a global financial hub, Singapore’s Monetary Authority of Singapore (MAS) maintains a rigorous but pro-innovation licensing regime.
- Major Payment Institution (MPI) License: Under the Payment Services Act (PSA), this is required for businesses providing services like digital payment token services, cross-border money transfers, or merchant acquisition exceeding specific volume thresholds.
- Capital Markets Services (CMS) License: For businesses dealing in securities, fund management, or corporate finance advisory.
- Digital Banking License: For non-bank entities looking to offer banking services.
3. E-commerce and Retail
General retail usually has a low barrier to entry, but specific products trigger licensing requirements.
- General Retail: Usually requires no specific license beyond ACRA incorporation.
- Telecommunications Dealer’s License: Issued by IMDA if you sell telecommunications equipment (e.g., mobile phones).
- HSA Permits: Required for selling health supplements, cosmetics, or medical devices.
- Secondhand Goods Dealer’s License: Issued by the Singapore Police Force if you deal in used items like jewelry or electronics.
4. Professional Services
Specific professions require individual or firm-level licenses to maintain industry standards.
- Employment Agency License: Issued by the Ministry of Manpower (MOM) for recruitment and headhunting firms.
- Travel Agent License: Issued by the Singapore Tourism Board (STB).
- Real Estate Agency License: Issued by the Council for Estate Agencies (CEA).
- Public Accounting Firm: Must be registered and licensed by ACRA.
5. Construction and Real Estate
- Contractor’s License: Issued by the Building and Construction Authority (BCA).
- Housing Developer’s License: Issued by the Urban Redevelopment Authority (URA) for projects with more than four units.
- Fire Safety Permit: Issued by the Singapore Civil Defence Force (SCDF) before occupying a commercial space.
The Central Hub: GoBusiness Singapore
To simplify the process, the Singapore government launched the GoBusiness Portal.
- License Search: You can use your UEN (Unique Entity Number) to search for all licenses applicable to your SSIC code.
- Integrated Applications: You can apply for multiple licenses from different agencies (e.g., SFA and LLB) in a single transaction.
- Dashboard: Track the status of your applications and receive digital copies of your approved licenses.
Did You Know?
If you are running a small service-based business from your home (like a graphic design or translation service), you may be eligible for the Home Office Scheme. This allows you to use your HDB or private residential address as your official place of business without needing a full commercial premises license, provided you follow URA/HDB guidelines on noise and traffic.
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Conclusion: Due Diligence is the Key to Growth
Obtaining the correct business licenses is not just a “box-ticking” exercise; it is the foundation of your company’s legal standing in Singapore. By identifying your industry requirements early through the GoBusiness portal and ensuring your SSIC codes are accurate, you prevent costly legal hurdles. In a market as transparent as Singapore, being fully licensed is a competitive advantage that builds trust with your customers, partners, and the Inland Revenue Authority (IRAS).
Frequently Asked Questions (FAQs)
1. How long does it take to get a business license in Singapore?
It varies. A simple retail license might be approved in a few days, while an MAS FinTech license or an SFA Food Shop license can take several weeks or months due to inspection requirements.
2. Do I need a license before I can register my company with ACRA?
In most cases, no. You incorporate your company with ACRA first to get your UEN, and then you use that UEN to apply for the necessary industry licenses.
3. What is the cost of these licenses?
Fees vary significantly. An Employment Agency license may cost S$400, while a Major Payment Institution license involves higher application and annual fees. Check the GoBusiness portal for the latest fee schedules.
4. What happens if I change my business activity?
If you add new services or products that fall under different SSIC codes, you must update your business profile with ACRA and check if new licenses are required for the new activities.
