Starting a Construction Company Singapore
The construction industry in Singapore is vibrant and offers good opportunities for businesses. However, there are regulations in place to ensure safety and quality. Here's a roadmap to get you started:
Company Registration
Pick a Name: Brainstorm a name that reflects your company's identity and adheres to ACRA's naming guidelines.
Register your Business: You'll need to register as a private limited company with the Accounting and Corporate Regulatory Authority (ACRA). This involves submitting necessary documents and paying fees.
Licenses and Permits
Contractor License: Apply for a license from the Building and Construction Authority (BCA) that permits you to undertake construction works. The type of license (General or Specialist) depends on your area of expertise.
Additional Permits: Depending on your specific projects, you might need permits for renovations, demolitions, temporary structures, or advertising signages.
Business Essentials
Corporate Bank Account: Open a dedicated account to manage your business finances.
Insurance: Obtain business insurance to protect yourself from potential liabilities.
Workers and Equipment: Decide on your staffing needs and consider equipment you'll need to get started.
Additional Considerations
Contractors Registration System (CRS): Register with BCA's CRS if you plan to manage public sector projects or participate in tenders.
Professional Engineering Services License (PESL): This might be required if your company undertakes significant professional engineering works.
Resources
For more details and updated regulations, refer to the websites of:
Accounting and Corporate Regulatory Authority (ACRA)
Building and Construction Authority (BCA)
Professional Engineers Board of Singapore (PEB)
How Bestar can Help
Bestar can assist you throughout the process of starting your construction company in Singapore. Here's how our services can be beneficial:
Company Registration: We can guide you in selecting a suitable business name and handle the registration process with ACRA, ensuring proper documentation and fee management.
Licenses and Permits: Our knowledge of BCA regulations can help you determine the necessary licenses (General or Specialist) and advise on obtaining additional permits required for specific projects.
Business Essentials: Bestar can help you open a corporate bank account and connect you with insurance providers to secure appropriate business coverage.
We have experience in the construction industry, so we can provide insights into:
Staffing Needs: We can advise on the types of personnel you'll need based on the scale and specialization of your construction projects.
Equipment Requirements: Our understanding of the industry might be helpful in determining the initial equipment needed to get your operations running.
Additional Services:
While starting your company, Bestar might also offer:
Compliance Guidance: We can ensure your company adheres to accounting and financial regulations set for the construction industry.
Tax Planning: We can advise on tax structures and help you navigate tax filing for your construction business.
Since Bestar offers business advisory services, we can provide broader consultations to help your business grow efficiently.
Contact Bestar to discuss your specific needs and get a clear picture of the services we can provide for your construction company.
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