Among the industries in which foreign direct investments have increased in the last few years is energy, renewable energy to be more specific. Investments in this sector have rose as a consequence of the incentives granted by the government to those who want to open a company in Singapore with the aim of providing modern and sustainable urban solutions.
Starting an energy company in Singapore implies following various steps and complying with several regulations imposed by the Energy Market Authority (EMA) in the city-state. Our company formation consultants in Singapore can offer information on the laws related to starting a business in the energy industry.
Company registration in the Singapore energy sector
Following the Commercial Law, foreign and local investors can register any type of business form with the Accounting and Corporate Regulatory Authority in Singapore in order to offer energy services to households and corporate clients in the city-state. Our local advisors can assist with the company formation process in Singapore.
After the Singapore company formation procedure is completed, the business owner must apply for one of the special licenses issued by EMA in accordance with the Energy Act.
Licensing of energy companies in Singapore
The Energy Market Authority issues the following types of permits for those opening companies in the energy sector in Singapore:
- – an energy generation license;
- – an energy retail license;
- – an energy wholesaler license;
- – a market support services license;
- – a transmission or transmission agent license.
However, a Singapore energy company may also be in charge with the installation of electricity grids for which different licenses such as electrical installation licenses are required. Another requisite for companies operating in the energy industry in Singapore related to their employees who must have certain qualifications. They must also hold electrical worker or cable detection worker licenses in order to perform their jobs.
For full information on the requirements to obtain the licenses necessary to open a company in Singapore in the energy sector, please feel free to contact us. You can also rely on us for assistance with the company formation procedure.