Singapore is home to a multitude of choices in many different sectors, and the retail and merchandising business sector is one of them. Like many other thriving sectors in the nation, the retail and merchandising sector has been steadily growing over the years. Besides, it 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:
One requirement of Singapore to every company owner is to incorporate the business before it 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. Thus, you can run and start your business in no time once all the paperwork has been done.
Once you’ve got the incorporation process started, you would then need to:
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.
Depending on the nature of your business, there are several types of licenses that you would need before you can operate the business. Some options of licenses include:
Foreign investors who wish to hire their own staff and bring them into Singapore to work must acquire the Singapore Employment Pass. Well, this pass is not mandatory for local hires.
One point to note though, the pass is subjected to approval by the Manpower Authority so you would need to run a check and ensure the pass is approved before bringing foreign staff into the country.
Hence, read more about Setting up a Retail Outlet Business in Singapore from 3E Accounting Pte Ltd, Singapore.
3E Accounting Pte Ltd, Singapore – Corporate Service Provider can assist in consulting, advising, preparing all the necessary paperwork needed and guiding new business investors seeking to set up a venture in Singapore to make the entire process easier. Contact us today to find out more.