Setting Up Retail Outlet in Singapore
If you want to know about how to set up a retail outlet in Singapore, you are on the right page. If your business activities are making money, you need to register them in Singapore.
Registering a Singaporean Retail Outlet
You have to register your retail outlet with ACRA, the Singapore Companies Registrar. In real life, it means incorporating a company in Singapore. The process is quick and red-tape less and needs only 1-3 days.
The process has only two steps; registering a company name and registering a company with ACRA. If you are a foreigner and wants to relocate to Singapore to direct your business, you will need to acquire EntrePass, too.
Premises Approval for Retail Outlet
You also need to take approval from proper authorities for the location of your business. For making changes in the premises, you need to approach URA and take fire safety approval from SCDF. If you want to set up your outlet in a shopping mall, ask the landlord expedite the approvals.
Licenses for a Singapore Retail Outlet
What types of products are you going to sell? The licenses and permits you will need to depend on products you want to sell in your retail outlet.
Acquiring Licenses for a Singaporean Supermarket
You may intend to set up a supermarket that sells raw and cooked foods. In this case, you need to get a Supermarket License to confirm with the Environmental Public Health Act. Apply online for it. It may take 5 working days if successfully meet the following criteria:
- Distinct legal identity from its shareholders or directors
- Applicant as an individual: A Singaporean or Permanent Resident
- Applicant as a company: Company needs to be registered with ACRA
- A scaled layout plan (showing preparation area, toilets, & stores) must conform with the Code of Practice of Environmental Health.
- Before applying for the license, top-up your Medisave contributions (for self-employed).
Applying for a License for Telecommunications Dealer
You need to register for Dealer’s Class License. It is an entity-based license. Apply to Infocommunications Development Authority of Singapore. Supply the address and telephone number of the retail outlet where you intend to sell the approved telecommunications devices.
The applicant can be either of:
- A business registered in Singapore; or
- A Singapore incorporated company; or
- An LLP registered in Singapore
Pay the application fee of S$50. The processing may take two working days.
Applying & Acquiring a License to Sell Liquor in Singapore
You need a liquor license to sell intoxicating liquor. Apply to the Liquors Licensing Board.
- You must have registered your company with ACRA
- You need to be a Singapore Citizen; or
- You need to be a Permanent Resident; or
- Someone having a FIN issued by Immigration and Customs Authority
- If you are self-employed, top-up your Medisave contributions
The application with supporting documents takes 12 working days to process. You will be informed of the rejection or acceptance of application via post and SMS or email. The license fee is S$220 for retailing liquor and beer for off-site consumption. It is valid for 2 years.
Setting up a retail outlet in Singapore is a huge opportunity. Currently, there are more than 20,000 outlets in Singapore. It means a lot of competition. However, it is a market where you can win customer loyalty. You will need to be attentive to your customers’ needs, provide authentic products, and invest in great after-sales customer service.