What type of business activities require approval in Singapore?
The Accounting and Corporate Regulatory Authority of Singapore (ACRA) controls the registration of business firms and incorporation of companies. However, the nature of the actual business activity could be subjected to control and regulation by other Government authorities. If your business requires a licence, it is mandatory to first acquire the necessary licence or permit before you can actually start business activities. Generally, it may take between 2 weeks to 2 months to get a licence or permit. Note that the business license application can be filed only after the formation of your Singapore entity. There various types of licences and permits are as follows: • Occupational licences for professional services – Professionals such as lawyers, doctors, financial planners, pilots, commodity futures traders and accountants need to obtain occupational licences to practice. • Compulsory licences – Certain types of businesses require a special licence before they can operate. Private sc
The Accounting and Corporate Regulatory Authority of Singapore (ACRA) controls the registration of business firms and incorporation of companies. However, the nature of the actual business activity could be subjected to control and regulation by other Government authorities. If your business requires a licence, it is mandatory to first acquire the necessary licence or permit before you can actually start business activities. Generally, it may take between 2 weeks to 2 months to get a licence or permit. Note that the business license application can be filed only after the formation of your Singapore company.
