Compliance License
A compliance license refers to a legitimate operating permit or license obtained by a company in accordance with specific industry or legal requirements. Different industries and regions may have different compliance licensing requirements to ensure that companies comply with relevant regulations and standards. This service involves assessing the client’s business activities and requirements, assisting in the preparation and submission of compliance license applications, and ensuring that the company complies with all necessary laws and standards in terms of compliance.
In Singapore, there are three types of business licenses: food shop licenses, commercial licenses, and industrial licenses. Among these, the commercial license applies to most companies, while the industrial license is applicable to manufacturing and industrial enterprises.
Process of Obtaining Singapore Licenses
The process of obtaining compliance licenses is based on the requirements of specific industries or laws. The following are the related application processes:
01
Apply for a Commercial License
After registering your company, you need to apply for a commercial license. The process of applying for a commercial license involves filling out an application form, paying the application fee, and waiting for approval. Typically, the application time for a commercial license is 1-2 days.
02
Apply for an Industrial License
If your company is involved in manufacturing or industrial business, you need to apply for an industrial license. The process of applying for an industrial license is similar to that of applying for a commercial license but requires more information and documents. Typically, the application time for an industrial license is 1-2 weeks.
Considerations for Singapore Licenses
Compliance with Singapore Law
When operating a business in Singapore, you need to comply with Singaporean laws and regulations. If you violate Singaporean laws, you may face consequences such as fines, imprisonment, or license revocation.
Timely License Renewal
After obtaining a Singapore license, you need to renew it promptly to ensure the legal operation of your company. Failure to renew the license in a timely manner may result in consequences such as fines or license revocation.
Maintaining a Good Business Reputation
When conducting business in Singapore, you need to maintain a good business reputation. If your company has a poor record or engages in non-compliant behavior, you may face consequences such as license revocation or company closure.