Applying for a Business License in Singapore: A Detailed Guide (2025)

when the open a business in singapore, understanding the types of business licenses is very important to ensure legal operations and compliance with regulations.

Therefore, the following article will provide important knowledge about business licenses for Singapore companies, from the reasons why a business license is necessary, the relevant agencies, types of licenses for common industries to the standard registration process.

1. Why is a business license necessary?

A business license is not only a legal document that allows a business to operate, but also a means for the government to monitor and ensure that businesses are complying with safety standards, environmental protection, and business ethics. 

Having the correct and appropriate business license helps businesses:

• Avoid legal penalties: Businesses without a valid license can be heavily fined or even forced to close.
• Create trust for customers and partners:A valid license demonstrates a business's commitment to transparency and professionalism.
• Compliance with legal regulations: Ensure that the business's operations do not violate any regulations relating to safety, health or the environment.

2. Regulatory bodies in Singapore of popular industries

Understanding the importance of a transparent and quality business environment, the Singapore government has established a series of important government agencies responsible for licensing different industries.

The six key agencies for popular business sectors include:

• Singapore Food Agency (SFA): Manages licensing in the food, beverage and agriculture sectors.
• Ministry of Manpower (MOM): Issues work permits, including those related to occupational safety and human resource management.
• Monetary Authority of Singapore (MAS): Administers licenses related to financial services, banking and insurance.
• Urban Redevelopment Authority (URA): Manages permits in the field of construction and urban development.
•  Health Sciences Authority (HSA): Responsible for licensing and regulating medical products, pharmaceuticals, medical devices and health-related services
• National Environment Agency (NEA): Regulates and licenses in areas related to environmental protection and public health, including licensing of waste treatment facilities, pollution control, and activities that cause significant environmental impacts.

3. Common types of business licenses

The above mentioned agencies, including, but not limited to, play a pivotal role in assessing the business model and granting appropriate licenses to Singapore companies.

Common types of licenses for key industries in Singapore include:

3.1. Food service industry

• Food and beverage businesses are required to have a Food Shop Licence.
• Businesses involved in food retail, including restaurants, cafes, and fast food outlets, will need this license. 
• The Singapore Food Agency (SFA) administers this licence and requires businesses to comply with food hygiene and safety regulations.

3.2. Retail and trade industry

Retail businesses, including fashion stores, supermarkets, and grocery stores, also need a number of specific licenses:

• Retail Licence: Required for retail outlets selling specific items such as tobacco, alcohol, or health care products. Sensitive items require licensing from the relevant authorities. For example, the sale of alcohol requires a liquor retail licence issued by the Singapore Police Force.
• Advertising Licence: Applicable to businesses that want to hang advertising signs or organize public advertising campaigns.

3.3. Financial industry

Singapore companies operating in the financial sector are required to register for a license from the MAS. Depending on the scale of their operations, the company will need to register for the appropriate license such as:

• Providing financial services, payment solutions will require licenses such as Major Payment Institution Lisence, Standard Payment Insitution Lisence, Money Changing Lisence.
• Fund management.
• Providing banking services such as Full bank, Digital Bank, Restricted Bank.

3.4. Import and export industry

Businesses involved in the import and export of food, goods, or animals require a permit from the Singapore Customs Authority and the SFA.

3.5. Network security

The Cybersecurity Labelling Scheme for IoT is a license required for companies that manufacture and sell IoT (Internet of Things) devices, to ensure that these devices comply with cybersecurity standards.

3.6. Tourism and travel industry

The tourism industry is one of the important sectors in Singapore, with many strict regulations to protect the interests of tourists. Businesses in this sector need the following licenses:

• Travel Agent Licence: Businesses that organize tours, provide travel services or sell airline tickets must have this license issued by the Singapore Tourism Board (STB).
• Tour Guide Licence: Individuals working as tour guides must obtain this license after completing a tour guide training course and passing STB tests.

3.7. Healthcare and pharmaceutical industry

Businesses in the healthcare industry, including hospitals, clinics, pharmacies, and health care facilities, must strictly comply with regulations related to public health:

• Clinic Licence: Issued by the Singapore Ministry of Health (MOH), required for private clinics and hospitals. Businesses must ensure they meet standards for equipment, health safety, and patient information confidentiality.
• Pharmaceutical Licence: Applies to establishments selling pharmaceuticals or medical products. Pharmacies need this license to ensure that pharmacists are qualified and that medical products meet standards.
• Drug import and export license: Applicable to companies importing and exporting medical products and pharmaceuticals into and out of Singapore.

3.8. Education services industry

Singapore is an international education hub with many schools and training centres requiring licences to operate:

• Private Education Institution Licence: Issued by the Committee for Private Education (CPE), required for private educational institutions, international universities, or foreign language training centers.

4. Steps to apply for a business license

5. How does GLA support businesses in applying for business licenses?

GLA, with its experience in consulting and supporting the establishment of a company in Singapore, will support businesses in:

• Consulting on legal procedures and documents for suitable company types when opening in Singapore.
• Support to open a company in Singapore quickly, effectively, legally, cost-optimized, and long-term operation.
• Offer you nominee director, secretary, andregiserted adress solutions.
• Manage your company financially with our one-stop cost-efficient tax accounting services for Singapore companies
• Register and verify bank account with digital bank, physical bank in Singapore.
• Support opening reputable business PayPal and Stripe payment gateways with new features.
• Register for a business license appropriate to the company's field.

6. Frequently asked questions about business licenses for Singapore companies

Highlights

• Singapore requires businesses to apply for specific business licenses based on their field of activity such as food services, finance, health care, and construction.
• Government agencies in Singapore play an important role in licensing and regulating business activities.
• Businesses applying for a business license must do so through the government portal GoBusiness Lisencing Singapore.
• Foreign businesses and individuals opening companies in Singapore need a reputable unit like GLA to support license registration.