Everything you need to know before Starting a Travel Agency in Singapore

Singapore is one the most visited tourist destinations across the globe. The travel and tourism business in Singapore is rapidly rising and provides tremendous growth opportunities. You can cash in this opportunity by starting a travel related business in Singapore. A travel agency is the one that arranges and organizes services related to travel and tours.

If you are looking to open a travel agency or become a travel agent, this article is certainly for you. In the article, you will learn about the things that you must know before starting a travel agency in Singapore.

Travel Agency in Singapore

Who Requires a Travel Agency License?

A travel agent conducting the business of a travel agency is required to have a travel agency license. The Singapore Tourism Board (STB) which is a body of government has the authority to issue the license. The authority has clearly defined the services that are part of a travel agent under Section 4 of the Travel Agent’s Act (Cap 334)
Travel Agency License is required by an individual or an entity who sells tickets to individuals for travel or makes arrangements for any person to travel on any conveyance. However, if the conveyance is owned by the company, Travel Agency License is not required
Anyone who makes arrangements or conducts tours within or outside Singapore
Anyone who facilitates a person to travel by selling or arranging hotel accommodation, transportation tickets for a fee and foreign visas to destinations within and outside Singapore
Activities that are prescribed by the board

The above are the few points that suggest who requires a travel agency license. The above points are applicable to companies that provide;

Travel Services
Excursions
Sightseeing
Tours
Tourist Services
Ticketing agents for airlines, tour buses, and cruise ships

Requirements for Travel Agency License

The following are the requirements for obtaining a Travel Agency License;

Company Registration
To obtain a Travel Agency License, the company must be set up as a Singapore company and have the intention of carrying out the business as a travel agent. The registration of the company must be done under the Standard Industrial Classification (SSIC) codes of 78211 for Travel Agents and Tour Operators, or 78212 for Ticketing Agencies.

Paid Up Capital
The paid-up capital of the company must be at least S$100,000

Key Executive
The appointment of an appropriate person must be done for the position of key executive and he/she must be approved by the Singapore Tourism Board (STB). The key executive has the responsibility of looking into the day to day operations of the business.

Character
The key position holders in the company such as executives and managers must have good moral character. It is imperative to carry out certain background checks as per the discretion of STB.

Email Address
The company must have a website and official email address to operate.

TRUST
TRUST means “Terms and Conditions for the Use of the Travel Related Users’ System (TRUST)”. It means that the website of the company is state-sanctioned and provides all the information and advice that is related to the travel agency in Singapore.

Office Space and Signboard
The travel agency must abide by the guidelines laid down for the office space and signboard. Approvals from the respective authorities must be obtained.

Application Procedure for Travel Agency License

The travel agency license application can be filed online, and it takes around one to two weeks of time to process the application from the date of submission of the documents.

The approval for the license may take longer if some checks are required. The In-Principle Approval (IPA) letter may ask for certain conditions to be fulfilled before the Singapore travel agency license is granted. The Singapore travel agency license must be received in person and respective license fee must be paid.

Renewals

The travel agency license is valid for a period of two years and expires on 31st December of the following year irrespective of the month in which you initially made your application. The license renewal must be done one month before its expiry.

So, this was all that you should know before setting up a travel agency in Singapore. If you seek professional help, get in touch with IMC Group. We can help you with company registration in Singapore, annual filings, legal compliances, accounting work and advice on how to start a start-up in Singapore.

We also support you in employing foreign workers by assisting you with VISA Services in Singapore. To know more about our services, get in touch with us.

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