Singapore is one of the countries where foreign enterprisers can find unlimited investment possibilities in numerous industries. If until several years ago it seemed unlikely to set up a business in the sports industry, such as fitness or gym clubs, nowadays this sector has become a challenge for those interested in establishing a company in this sector. The rise of the event management industry has also led to the development of sports businesses in Singapore.
If you want to open a company in Singapore in the sports industry, our local representatives can assist you with the company formation procedure.
You can also watch the video below for information on how to set up a sports business in Singapore:
The most important step for opening a sports company in Singapore is the company registration process. First, the entrepreneur must choose the type of structure and then register it with the Accounting and Corporate Regulatory Authority in the city-state. The limited liability company is usually the preferred choice among investors. Once the company incorporation and tax registration procedures are completed, one must pay attention to the licenses that must be obtained with various authorities. It is important to keep in mind that fitness clubs in Singapore may apply for one or more licenses depending on the activities it will undertake.
Opening a sports business in Singapore implies finding a suitable location. When establishing a gym or a fitness business, the premises must be carefully selected. Special licenses required for sports businesses in Singapore are:
The personnel of the Singapore gym or fitness club must also be qualified in order to be allowed to work. The employees must have a fitness professional license which is issued by the Singapore Sports Council.
For assistance in opening a Singapore company in the sports industry, do not hesitate to contact our local company formation experts.