Rikvin Discusses How to Form an Entertainment or Recreation Business in Singapore 

by Lecor Crystal Wednesday, January 05, 2011
RAs a corporate solution provider, Rikvin provides thorough company registration services for companies owned by foreigners. Besides industry such as electronics, technology, chemicals, and apparel, foreign investors are encouraged to establish an entertainment or recreation business in Singapore.

A few examples of entertainment business are karaoke lounge, night club, theme park, and miniature golf park. Recreational businesses refer to something that may have started as a hobby and has the potential of growing into a business. Among them are prawn farms and fish ponds where prawns, crabs, and fishes are harvested.

Locals may initiate the registration of their company after satisfying all requirements. However, foreigners, unless they are in possession of a Blue Card, SingPass, NRIC, or any of the labor passes, are not eligible to engage in any legal transactions in Singapore, especially with the government and banks.

Rikvin’s business consultant for more than a decade, Say Hun has something to say of eligibility. “Most foreigners come to Singapore as a tourist, thus, their stay is momentary and does not require accessing the government agencies. And most of these foreigners come from countries which are not required by Singaporean authorities to secure a Tourist visa.”

Company registration requires access to the government’s agencies such as ACRA, where documents are forwarded for registration, and IRAS, where businesses are registered for GST, and other agencies for obtaining the necessary business permits and licenses.

“To get access, an individual must provide a unique login derived from one’s identification cards such as Singapore Personal Access Card, National Registration Identity Card, Blue Card, or labor passes,” Hun explains, adding that the login information is found at the back of these cards and is a combination of letters, numbers, and special characters.

Say says further that foreign investors and entrepreneur applying for labor passes such as Employment, Entrepreneur, or Dependant must first register completely their company before they can apply for the labor pass, except, if foreigners are in search for employment opportunities, in which case, the company in Singapore is responsible for processing the labor visa application.

In registering for an entertainment or recreational business, investors should find a secure area zoned for commercial uses and approved for entertainment or recreation usage by Urban Redevelopment Authority.

“After obtaining the area, ensure that it passed on building codes and fire safety measures. If it is not fit for entertainment or recreation, renovation for Change of Use is necessary by applying for permit from Urban Redevelopment Board,” Hun continues on elaboration, specifying that every type of entertainment or recreation has its own rules and guidelines or additional permits.

Renovation, for example, entails construction, which in turn, requires an application for a building work permit with Building and Construction Authority of Singapore. Upon completion of construction, a Certificate of Statutory Completion and or Temporary Occupation Permit are essential.

Some businesses offer foods and beverages as part of their entertainment and recreational businesses. In such case, a separate permit and license are required. After this process, the business is ready to register with ACRA.

Each process of application for permits and licenses may consume a day or two or weeks depending on the type of permit and license applied. Thence, most local businessmen hire the services of professional company to take care of these processes. Foreigners on the other hand, are required to employ the professional services of an independent company.

Among Rikvin’s corporate solution specializations are company registration, processing of labor passes, and services such as accounting, bookkeeping, and payroll preparation.

About the Publisher:
Rikvin provides corporate solutions to investors and entrepreneurs in the local and abroad. Among its specializations are Singapore company registration, Singapore company setup and providing professional services relating to finances and administrative. Rikvin specializes in processing working visas and providing services such as nominee director, nominee shareholder, nominee agents, accounting, payroll, and secretarial.

Since 1995, Rikvin serves hundreds of companies managing and rendering Singapore accounting service using sophisticated payroll software system to handle even the most complicated payroll account. In its payroll services, Rikvin assures its clients of confidence in dealing with every transaction. Its accountants maintain competence. Above all, Rikvin’s principles adhere to the laws and share the same vision such as the inevitability of innovation. Rikvin has successfully helped foreign and local entrepreneurs form a Singapore company.

Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions.

For more information, visit:
Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com
Website: http://www.rikvin.com/

Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

0    submitted by Lecor Crystal
Read More Press Releases

Thanks to robots, company registration in Singapore has become cheaper

Koincable Introduces Four Customizable HDMI Cables

SKS Ispat& Power Ltd commissions first 300-MW power unit of their 1,200-MW RaigarhPower Plant

How a Bodybuilding Diet Can Help Build Muscle Naturally

Low Carb Diet Report Casts Light On New Research Findings

Increase in the number of student visa is trending nowadays

Wiwigo Technologies: First of its kind selfie campaign takes place in moving Delhi-Chandigarh Shatabdi

An important day in real estate sector

Leonard Kim to Appear on Critical Mass Radio Show

Nishan Kohli's recent exhibition on photography

Get press releases by email