Engineering has led to the development of the transportation industry which became the most technologically advanced sector in Singapore. Foreign investors interested in starting a business in the transportation sector can now choose between land, maritime or aviation, all three segments being equally developed, as Singapore is a regional cargo transport hub. Moreover, the city-state is an international aviation hub having the most awarded airport in the world.
When it comes to aviation, local and foreign entrepreneurs can set up various types of businesses, as the government supports this industry through various incentives and assistance programs. Our company formation agents in Singapore can offer information on the legislation related to opening a company in the aviation sector.
Those who want to open a company in Singapore and are searching for a business idea related to the aviation industry have various options. Among these are:
No matter the types of aviation business one wants to set up in the Lion City, the Singapore company formation process and licensing is mandatory.
The Singapore company formation procedure of a business in aviation is the same as for any other company operating in the transportation sector and implies choosing a structure and registering it with ACRA. Our company registration specialist in Singapore can handle this procedure.
Following that, the necessary licenses to start operating must be obtained with the Civil Aviation Authority of Singapore (CAAS). Aviation companies offering air transportation services must also purchase and register the aircraft used for their activities.
In 2016 the government has announced the creation of the Industry Transformation Map which included a special program dedicated to the transportation sector, including aviation. Under this program, entrepreneurs setting up aviation businesses in Singapore will benefit from investments of 500 million SGD through the Aviation Development Fund launched with the map.
If you are interested in starting a company in aviation and need assistance, please contact our Singapore company formation consultants.