A Member Firm of Andersen Global
IMC Group Companies
Forum - Q&A
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.
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.
If you want to relocate your business, you have to apply for the Singapore Entrepreneur Visa.
The place or the premises where you want to carry out the business activity must be an approved location for conducting business. If you are willing to have a retail outlet in a conservation building or a private property, then approval from the Urban Redevelopment Authority of Singapore (URA) is compulsory if you want to make any additions or alterations to the premises. Furthermore, a certificate from the Singapore Civil Defence Force (SCDF) must be compulsorily obtained to ascertain that the retail outlet meets all the fire safety requirements.
Every retail outlet is required to obtain certain licenses depending on the nature of products sold by them. There are different licenses for different types of products like if a retail outlet sells products related to human health and safety, then the relevant license would be required.
Let us now learn about few of the licenses that are required for different types of outlets in Singapore.
We appreciate your interest in IMC and are eager to address your needs.
To ensure we address your needs accurately and promptly, please fill out this form. This will help us in identifying and connecting you with the appropriate team of experts in our organization.
We take pride in our responsiveness and aim to get back to you within a span of 1-2 business days. Your journey towards solutions starts here.
© 2023 IMC Group. All Rights Reserved.