Starting a Retail and Merchandising Business in Singapore
Singapore is home to a multitude of choices in many different sectors, and the retail and merchandising sector is one of them. Like many other thriving sectors in this bustling nation, the retail and merchandising sector has been steadily growing over the years and is now home to a wide brand names and services to choose from.
Are you an investor thinking about setting up your own retail and merchandising business in Singapore? Here’s what you need to get going:
What you need to get started
Every business in Singapore needs to be incorporated before business can begin functioning. Before the business can be fully operational, it must first be registered with the Singapore Companies Registrar. The registration process is fairly quick and easy, and you should be up and running in no time once all the paperwork has been done.
Once you’ve got the incorporation process started, you would then need to:
- Get your retail outlet and premise approved
- If modifications and alterations needs to be made to the premise, you must first seek approval for the process from the Singapore Redevelopment Authority
- Acquire the necessary licenses to run your business.
Foreign investors who plan on living in Singapore during the setting up of the business would need to get the Singapore Entrepreneur Visa permits that will allow them to do so.
Types of licenses needed to operate
Depending on the nature of your business, there are several types of licenses that would be needed before the business can be operational. Some options of licenses include: