Step 3: Find out industry-specific guidelines
Your business activities must comply with the rules and regulations of relevant authorities before commencement. This list is not exhaustive and serves as a guide.
To search for the licenses and approvals that may be required for the business, visit the GoBusiness Licensing Portal.
For Home Bakeries
Singapore Food Agency (SFA) is the statutory board that oversees food safety and security in Singapore. Persons who handle and prepare food are encouraged to attend the Basic Food Hygiene Course/WSQ Food Safety Course Level 1.
For Insurance / Financial Services
Financial advisers are licensed and regulated by the Monetary Authority of Singapore (MAS) under the Financial Advisers Act (FAA). MAS provides guidelines on what constitutes the provision of financial advisory service under the Financial Advisers Act, and sets out the licensing, financial and business conduct requirements for financial advisers.
Any public offering of securities through the web is subject to the rules set out in the Companies Act and must adhere to the Guidelines on Offer of Securities made through the Internet.
For Technology-based / Knowledge-Intensive Companies
Intellectual Property Office of Singapore (IPOS) is a statutory board that advises on and administers intellectual property laws, promotes IP awareness, and provides the infrastructure to facilitate the development of IP in Singapore.
It is recommended that you file a patent application on the invention before it comes public. As the major asset of a tech start-up is its IP, neglecting this step may damage your future profitability.
For Trading Companies
Singapore Customs is a government agency under the Ministry of Finance. After registering with ACRA to obtain your Unique Entity Number (UEN), you have to activate your Customs Account.
You also have to apply for Customs Permit and Inter-Bank Giro, furnish your security and authorise your Declaring Agent. The full steps can be found on Quick Guide for New Traders and Registration Services.
For Real Estate Companies
The Council for Estate Agencies (CEA) is the statutory board that regulates and develops the real estate agency industry in Singapore. Prior to commencing estate agency work in Singapore, you are required to apply for the Estate Agent Licence.
If you are engaging employees, you also have to register them with the CEA.