Surrounded by waters, Singapore offers many business opportunities to foreign entrepreneurs interested in exploring the fishing sector. Recent reports indicate that the Singapore fishing industry is one of the main contributors to the economy as the export of seafood plays an important role in the development of the freshwater fishing segment.
Foreign and local investors who want to start a business in the fishing sector in Singapore can choose one of the designated areas for fishing, among which Jurong Fishery Port (JFP) or Senoko Fishery Port (SFP) based on the application for entry permits and port clearance or report of arrival licenses.
Our company formation agents in Singapore can guide you through the company registration procedure when opening a fishing company in the city-state.
How to open a company in Singapore in the fishing industry
No matter the activity one undertakes, the first step is the Singapore company formation procedure which must be fulfilled following certain steps. The first step is to choose and reserve a trading name for the Singapore fishing company. The second step is to file the memorandum and articles of association of the company with ACRA. Our company registration specialists in Singapore can assist with the preparation of these documents.
Licenses for fishing companies in Singapore
Once the Singapore fishing company is registered, certain special licenses must be obtained. Among these are:
- – the special licenses for the two fishery ports, which are issued by the Agri-Food and Veterinary Authority;
- – a pass for the vessel going out on the water;
- – passes for each member of the crew onboard the vessel.
The last two types of permits are issued in accordance with the Fishing Craft and Crew Pass Regulations.
Another important step which must be considered when opening a company in the fishing sector in Singapore is the purchase and registration of the vessels used for carrying out the fishing activities. These must be registered with the Maritime and Ports Authority in Singapore.
For full information on how to open a company in Singapore in the fishing sector, do not hesitate to contact us. You can rely on our company formation consultants for assistance with the registration of the company with ACRA.