open a retail outlet in singapore
TRANSCRIPT
Open a Retail Outlet in Singapore
A presentation brought to you by OpenCompanySingapore.com
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The Retail Industry in Singapore
• The retail industry in Singapore is one of the most developed sectors, accounting for a significant share of the city-state Gross Domestic Product.
• Among the most sold products in Singapore retail stores are: electronics, cosmetics, clothing articles, medicines and furniture.
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Why Start a Retail Business in Singapore ?
• The number of retail outlets increased significantly during the last few years thanks to the development of the tourism industry.
• Retailers in the city-state can register with the Singapore Retailers Association which recently issued a code of good practice for outlets.
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How to Open a Retail Company in Singapore
• Foreign citizens who want to open a retail outlet in Singapore can do that by following several steps.
• Our company registration agents in Singapore can handle the business registration procedure.
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Steps to Open a Retail Outlet in Singapore >>
• The first step is to select a company name and submit for approval with the Accounting and Corporate Regulatory Authority.
• Then one must have the company’s incorporation documents prepared and filed with the same authority.
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>> Steps to Open a Retail Outlet in Singapore
• Our company registration agents in Singapore can draft the articles of association for opening a retail outlet in the city-state.
• The last steps before starting operating is to select the location for the retail store and apply for the appropriate license.
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Licenses for Outlet Shops in Singapore >>
• One of the most important aspects to take into consideration when opening a retail outlet in Singapore is the premises as it must comply with the regulations for the activities to be carried out within.
• The Urban Redevelopment Authority issues the special license for any retail activity.
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>> Licenses for Outlet Shops in Singapore
• The other licenses to be obtained when opening a retail store in Singapore depend on the products one wants to sell, among which:
supermarket licenses for those setting up a supermarket;
a pharmacy license for those selling pharmaceutical products;
telecommunications dealer’s license for those selling telecom equipment;
liquor license for those selling spirits;
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Company Registration Services in Singapore
• If you want to start a business in the retail industry you can ask our company incorporation consultants for details about the licenses required for opening this type of company.
• You can also contact our company formation agents in Singapore for assistance with the company registration process.
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Thank you for your attention!
For more information, please contact us at:
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www.opencompanysingapore.com10