Maritime Business is basically a shipping business and a well-known business all over the world. Every country has a lot of seaports from which they import and export goods. These goods are then supplied to different cities of the country. If you are thinking to start a maritime business in Singapore it will be a competing challenge because with over 5,000 similar companies contribute about 7% of the GDP. Singapore is a leading International Maritime Business Centre, connected to more than 600 ports in over 120 countries. This is because Singapore has a strategic location to do a very major global maritime business. Singapore government also give a handsome amount of profit to this kind of industry. If you are planning to start this business, you should read the whole article carefully because here you will get every information according to starting a maritime business in Singapore.
Make a plan
To start a business you must have a proper plan for it because without plans no business can taste success. If you are planning to start a maritime business then you should have knowledge about seaports, importing and exporting. You have to plan your financial status before starting up your business. You should have some knowledge about the cost of ships and boats you will need to use and the costs of licenses and certification also. Make up your mind that where are you buying the port. Is that place good for your business? Or you need to look at any other place.
The first step you need is to register it in the Accounting and Corporate Regulatory Authority of Singapore. This is the department in Singapore which have the power to allow you to do any kind of business in Singapore. Registering your maritime business company is not a big deal; you just need to have all of the required documents.
Then you have to get a license or permit for the stuff of which you are starting your business. There are many licenses to run your business successfully. Licenses required for different business operations are the following:
So this was the total information if you are starting up maritime business in Singapore. If you want to ask any other question, please email us at the given address. Stay with us for more upcoming updates.
If you are interested to start a Maritime business in Singapore, read more from a local corporate service provider in Singapore who can assist you along the way.