The food and beverage and the food processing industries are two of the most developed sectors of the Singapore economy as the Government has granted many incentives to foreign investors coming to set up restaurants and other types of establishments here. There are over 4,500 restaurants and food processing companies operating in Singapore at the moment. Also, this industry employs around 70,000 individuals.
The Government continues to support the food segment as it was its aim to transform the city-state into an “oriental gastronomic capital”. Whether investing in innovation or higher quality standards, foreign investors seeking to open food processing establishments in Singapore can benefit from various incentives.
You can also find out from the video below the main steps to take in order to open a company in Singapore as a food processing business:
Our specialists in company registration in Singapore can provide you with complete information about the current development programs for the food and beverages industry.
Before starting to operate a food processing company one must choose the appropriate premises. choose a type of company and then register the business with the Accounting and Corporate Regulatory Authority of Singapore. If you are thinking about setting up a private limited company in Singapore for your food processing company, you should know that this type of company requires a minimum share capital of only 1 SGD. Our Singapore experts can help you with the company registration process. One must know there are several types of companies of the same class they can set up:
For each type of company there are different licensing requirements. Food processing licenses are issued by the Agri-Food and Veterinary Authority of Singapore (AVA). Our company formation consultants in Singapore can help you obtain this license.
All food processing establishments must comply with the regulations of the Wholesome Meat and Fish Act, Sale of Food Act. In order to obtain the food processing license one must submit the following documentation with the AVA:
Based on these documents, the AVA will inspect the premises. During the final inspection, the company must present AVA representatives with the following documents:
Based on these the AVA will give a classification graded from A to D. The classification inspection is done on a yearly basis.