How to Start Retail Business in Singapore

How to Start Retail Business in Singapore

The retail industry in Singapore is growing at a rapid pace, accounting for a significant share of the country’s Gross Domestic Product. Owing to the magnificent growth in the tourism sector, the number of retail outlets in Singapore has increased significantly over the past few years. Among the most sold products in Singapore retail stores are electronics, clothing articles, furniture, cosmetics, and medicines.

Singapore is also among the most developed countries in Asia and hence a lot of businesses are thriving here. If you too are eyeing to set up a retail outlet in Singapore, then in this article we will help you in understanding how to set up a retail outlet in Singapore as well as the requirements that you need to fulfill.

Basic Requirements for Setting up Retail Outlets

Business Incorporation

Singapore is known as one of the easiest places to do business in the world. Before starting operations at the retail outlet, the business must be registered with the Singapore Companies Registrar, ACRA. The process is very easy and quick. You complete your registration process online within 24 hours.

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