Various reports issued by the Singapore governmental agencies during the last few years show the fast-moving consumer goods (FMGC) sector as one of the most developed industries in the country. This evolution is given by the rise of the Asian consumerism industry as numbers indicate better living conditions for Asian residents with a middle-class which is expected to grow up to 3.2 billion individuals by the end of 2030.
Our company formation agents in Singapore can offer more information on the most developed economic sectors of city-state in order to ease the investors’ choice when deciding to start a business here.
We also invite you to watch our video on how to set up a FMCG business in Singapore:
Foreign investors who want to open a company in Singapore can choose the FMCG industry given its development potential in the next years. According to the International Standard Industrial Classification (ISIC), FMCG products are divided into:
Thank to the large variety of products, starting a business in the FMCG sector in Singapore means opening a retail store, a shop, a mini or a supermarket or even a logistics company used for the distribution of the goods.
No matter the type of business one will undertake the Singapore company formation procedure is mandatory. First of all, one must decide on a business name which will need the approval of ACRA, choose the right location for the FMCG company and then have the incorporation documents prepared and filed with ACRA. The last steps related to opening a FMCG company in Singapore is to register for GST, taxation and employment purposes.
Our Singapore company formation experts can handle the whole company registration procedure on your behalf.
Based on the goods to be sold by the Singapore company, there are various special permits and licenses which must be obtained for the retail of the FMCG products. Among the licenses Singapore shops must obtain are:
For assistance in starting a FMCG business in the city-state, please contact our Singapore company formation advisors.