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The education sector being one of the potential developing industries in Singapore plays a significant role in pulling in and fostering talent from across the globe. The Global Schoolhouse initiative was rolled out by the Economic Development Board in 2002, with a goal of changing Singapore into an internationally-renowned educational hub. Currently, there are more than 1,200 private educational institutions and organisations that provide high-quality education services, thus making this country a top name in this sector. Besides academics, the demand is also rising for specific vocational and skill-based courseware in certain niches like grooming, culinary arts, fine arts etc.
This article will help provide a general guideline on how to start an educational institute in Singapore.
As this sector offers many attractive opportunities, the number of professionals and foreign companies who want to tap this market and establish an academic or non-academic private institution, kindergarten or nursery, daycare or childcare centre or other associated service is on a sharp rise. The Singaporean Government has set some guidelines and statutory requirements for the new bees in this sector with a goal of streamlining the education sector and the diverse participants in it.
Before deciding to establish your educational institute, think through and ensure that you have understood what you are getting into. Review the regulatory necessities as per the type of school you are going to set up. There are some other important things you need to complete so that your new business remains a financially-viable and gainful entity. These tasks are:
Once your decision is final, you should go ahead and incorporate your school or institute. The best-suited legal entity is a private limited company in Singapore because it is comparatively simple and fast process although certain statutory requirements apply. For more details on how to start private education institutions in Singapore, do get in touch with us.
After your business is incorporated, just get to the grind. You need to complete many necessary tasks before you could start the enrollment or admission of students. These tasks are:
After your institute is operational, think of getting the accreditations to get more credibility and confidence from your potential student base.
The licenses needed completely depend on which type of education institute you are planning to start. The following table provides a clear view of which registration, licenses, and permits you need as per the type you choose.
The main regulatory requirement for organizations in the education sector is that all private companies or establishments giving education to 10 or more people (except non-academic schools) have to register either with the Council for Private Education (CPE) or the Ministry of Education (MOE), depending on the type of establishment. This registration gives the private institutes the right to function when they have met all the statutory requirements successfully.
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