Singapore is one of the most vivid cities in the world thank to the large number of tourists which grows year after year. Tourism has become one of the leading economic sectors in Singapore, therefore it is no wonder that foreign investors coming here open companies in this industry. From travel agencies, to hotels and restaurants, one can open a Singapore company which will generate a good revenue. For those seeking to start small, opening a bar in Singapore could be a great business idea.
Before jumping into business, it is useful to know that Singapore is one of the best places in Southeast Asia to open a bar in, according to various market studies. The low prices and the variety of bars and pubs have transformed Singapore into a good destination to set up a food and beverages business.
You can find out how to open a bar in Singapore from the video below:
Our Singapore company formation consultants can offer information on the legislation related to selling beverages in the city-state.
Before starting the company formation process in Singapore, a foreign or a local investor must study the market and find a suitable location for the bar, as access to clients is the most important. Then the capital required to invest in the business must be established. When referring to investments in opening a Singapore bar should know that the design of the place is one of the most important aspects when setting up this type of business. The equipment must also be professional, not to mention the employees.
For those not disposing of the amount of money they need to set up a bar, the good news is that Singapore is one of the best countries where money can be raised through crowdfunding.
Then, the company registration procedure in Singapore can begin. Our Singapore company formation consultants can handle this process.
Once the Singapore company is registered it must apply for the suitable type of license it needs to operate as a bar. The liquor license for selling alcoholic beverages is issued by the Singapore Police Force. There are 5 types of liquor licenses issued by the police, depending on the hours of serving alcoholic drinks and whether the drinks are permitted on or off the premises.
When opening a bar in Singapore, one of the following licenses must be obtained:
It is also possible for a bar to apply for more than one license.
If you need assistance in creating a bar, please feel free to contact our company formation agents in Singapore.