Open a Sports Business in Singapore

A presentation brought to you by OpenCompanySingapore.com

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The Sports Industry in Singapore

• Singapore is one of the countries where foreign enterprisers can find unlimited investment possibilities in numerous industries.

• If until several years ago it seemed unlikely to set up a business in the sports industry, such as fitness or gym clubs, nowadays this sector has become a challenge for those interested in establishing a company in this sector.

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How to Open a Sports Business in Singapore >>

• The first step to start a sports business in Singapore is to choose the type of structure for the company.

• You should also take into account that the most employed type of company is the limited company due to the tax exemptions in Singapore.

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>> How to Open a Sports Business in Singapore

• Once the type of company is selected, the owner must reserve a company name with ACRA.

• The second step implies drafting the Articles of Association of the company, followed by their filing with ACRA.

• The last step to open a sports club in Singapore is to register for taxation purposes.

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Licenses for Sport Clubs in Singapore >>

• Once the company incorporation and tax registration procedures are completed, one must pay attention to the licenses that must be obtained with various authorities.

• It is important to keep in mind that fitness clubs in Singapore may apply for one or more licenses depending on the activities it will undertake.

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>> Licenses for Sports Clubs in Singapore

• Special licenses required for sports businesses in Singapore are: the copyright license which is issued by the

Composers and Authors Society in the city-state and which grants the right to play music in the premises;

the non-residential TV license which is issued by the Media Development Authority and which grants the right to broadcast;

food and beverage license, if the organizer plans to serve such products.

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Finding a Location for a Sports Clubs in Singapore

•  Opening a sports business in Singapore implies finding a suitable location.

• When establishing a gym or a fitness business, the premises must be carefully selected.

• Our Singapore company formation agents can offer information on how to find a location for a sports business.

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Hiring Personnel for a Fitness Club in Singapore

• The personnel of the Singapore gym or fitness club must also be qualified in order to be allowed to work.

• The employees must have a fitness professional license which is issued by the Singapore Sports Council.

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Company Registration Services in Singapore

• For assistance in opening a Singapore company in the sports industry, do not hesitate to contact our local company formation experts.

• You can also rely on us for opening other types of companies in Singapore.

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Thank you for your attention!

For more information, please contact us at:

+ 852 8191 3385

office@lawyers-singapore.com

www.opencompanysingapore.com10