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Category: Business in Singapore

Insightful and dedicated experts in A.1 Business Pte Ltd are always ready and willing to provide assistance to any entrepreneur who’s keen on setting up their business in Singapore. Highly conscientious in their work, our team of professionals will provide a complete and comprehensive guide on the process of company registration in Singapore to interested parties.

How to Set Up a Travel Agency in Singapore?

Prior to starting a Travel Agency in Singapore, one must register a company. A Travel Agency is a person or a company that provides services relating to travelling and tour. A Travel Agent is a body which provides travel and tour packages involving different modes of transport.

Under Section 4 of the Travel Agent’s Act (Cap 334), a travel agent is defined by the services it offers. Some services include:

  1. The purchasing of the requirement needed to get on any transportation for resale, conducting tours within Singapore
  2. The sale of tickets allowing one to travel or organise a right of passage on any form of transportation for an individual. However, the licence is not required if the transportation is owned by the company.
  3. The assistance of an individual to travel by selling or organising transport payment tickets, hotel lodging and foreign visas to destinations outside and within Singapore. Similarly, a licence is not required if the lodging and conveyance is owned by the company.
  4. Individuals are also deemed as a travel agent if they carry out activities that are set by the Board. These includes companies such as providing travel services, excursions, sightseeing, tours, tourist services and ticketing agents for airlines, tour buses and cruise ships.

The person or company would need to have a travel agent licence in order to run an agency. The licence will be issued by Singapore Tourism Board (STB), a government entity. Before the licence can be sent for approval, the company must have the following obligations:

  1. The company must be set up in Singapore and have the purpose of doing business as a travel agency. The company must be registered under the Standard Industrial Classification (SSIC) codes of 78211 for Travel Agents And Tour Operators, or 78212 for Ticketing Agencies.
  2. Cash flow and good liquidity and solvency of the company is very important. Thus, the paid-up capital that is used to set up the company must be at least S$10,000.
  3. Employees must be a Singapore citizen, permanent resident, or employment pass holder and must also be accepted by STB.
  4. Fourth, running a business requires the management team and executives to be of good moral character and reputation. Evidence of conduct such as letters of decent demeanour, police clearance and credit background checks may be used by STB for inspection.
  5. Fifth, having a website allows the company to communicate with the customers through IT. Also, the company would need to examine the “Terms and Conditions for the Use of the Travel Related Users’ System (TRUST)”. It is a website providing travel industry information and advice.
  6. Business office space and signboard must be set up if you are setting up a company that is for travel agency operations. The signboard must be concise on the services you provide. For self-employed agents, approval from Housing Development Board must be obtained before STB issues the license.

Applying for licence:

The documents needed for a license are as follows:

  • Latest ACRA Biz file of the company
  • Business Activities & Market Specialization Form
  • Resume and Testimonial of the Key Executive
  • Front & Back copy of the Key Executive’s NRIC
  • Key Executive’s Declaration Form
  • Letter of appointment & Director Resolution on the appointment of the Key Executive, printed on company’s letter head and signed by all directors with a valid company stamp.
  • Confirmation of Company’s Business Particulars Form
  • Tenancy agreement & Certificate of Stamp Duty of the premises. Ensure that the copy shows the address that has been approved and to be used as office.

Also, Sole-proprietors/partnerships are also required to submit the Credit Bureau Singapore report for the sole-proprietor/partners.

All documents are to be submitted to STB for approval. The application of the travel agent license would take about one to two weeks to process depending on the amount of completed supporting documents.

  1. Supporting documents are stamped copy of the rental contract of the location(s). The agreement should not be less than one year.
  2. If you are applying online at enterpriseone.gov.sg, you must declare whether you are a shareholder in other travel agencies.

The license costs $300 and expires the following year which it is issued, on 31st December. After that, the travel agency is required to renew their licence.

Looking for Free Business Advice for SMEs?

Are you looking for free business advice for SMEs, an aspiring Entrepreneur and new to Singapore company formation? Free business advice is now available for Small and Medium-sized Enterprises (SMEs) at Central Development Councils (CDCs) across Singapore. The advice ranges from the availability of government schemes to knowing the ropes for overseas business expansion.

To be managed by consultants from the various trade associations with funding from Spring Singapore, these centres were the result of an agreement to set up SME centres within the five CDCs by five local trade associations, with the objective of offering advice for SMEs.

These five trade associations include:

    • Association of Small and Medium Enterprises (ASME)
    • the Singapore Chinese Chamber of Commerce and Industry (SCCCI)
    • the Singapore Indian Chamber of Commerce and Industry (SICC)
    • the Singapore Malay Chamber of Commerce and Industry (SMCCI)
    • the Singapore Manufacturing Federation (SMF)

Termed a ‘satellite centre’, the first such centre launched in 2012 at the Northeast CDC in Tampines with the aim of giving business advice for SMEs. The SME help centre, run by consultants of the ASME, managed to benefit about 1000 SMEs. Leveraging on the success of the first centre, a second centre was launched in July 2013 at Southwest CDC in Jurong East and it will be managed by consultants from the Singapore Manufacturing Federation (SMF).

Complementing the SME help centres already available at various different locations over Singapore, the scheme has given business advice for more than 70,000 SMEs. This is since the launch of the programme in 2005. Spring Singapore anticipates that the collaboration of these satellite centres and the participating trade associations’ help centre can assist another 60,000 businesses in the following three years.

If you are keen to contact a business advisor from an SME-help centre, or simply wish to know more information about the five trade associations and the SME help-centres under them, click here.

Looking for Free Business Advice for SMEs?

Are you looking for free business advice for SMEs, an aspiring Entrepreneur and new to Singapore company formation? Free business advice is now available for Small and Medium-sized Enterprises (SMEs) at Central Development Councils (CDCs) across Singapore. The advice ranges from the availability of government schemes to knowing the ropes for overseas business expansion.

To be managed by consultants from the various trade associations with funding from Spring Singapore, these centres were the result of an agreement to set up SME centres within the five CDCs by five local trade associations, with the objective of offering advice for SMEs.

These five trade associations include:

    • Association of Small and Medium Enterprises (ASME)
    • the Singapore Chinese Chamber of Commerce and Industry (SCCCI)
    • the Singapore Indian Chamber of Commerce and Industry (SICC)
    • the Singapore Malay Chamber of Commerce and Industry (SMCCI)
    • the Singapore Manufacturing Federation (SMF)

Termed a ‘satellite centre’, the first such centre launched in 2012 at the Northeast CDC in Tampines with the aim of giving business advice for SMEs. The SME help centre, run by consultants of the ASME, managed to benefit about 1000 SMEs. Leveraging on the success of the first centre, a second centre was launched in July 2013 at Southwest CDC in Jurong East and it will be managed by consultants from the Singapore Manufacturing Federation (SMF).

Complementing the SME help centres already available at various different locations over Singapore, the scheme has given business advice for more than 70,000 SMEs. This is since the launch of the programme in 2005. Spring Singapore anticipates that the collaboration of these satellite centres and the participating trade associations’ help centre can assist another 60,000 businesses in the following three years.

If you are keen to contact a business advisor from an SME-help centre, or simply wish to know more information about the five trade associations and the SME help-centres under them, click here.

 

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Singtel
SP
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