- Starting business in Singapore: organizational issues and requirements
- Premises and staff for your beauty salon in Singapore
- Singapore beauty salon licensing
- How to start business in Singapore: reference information on organizational issues
- Singapore taxes
- Average price policy of Singapore beauty salons
- Meeting market competitors
- How much does opening beauty salon in Singapore cost?
Many business people dream of opening their own beauty salon in Singapore. A business related to the beauty and health industry, cosmetic services, massage, rejuvenation procedures, and SPA has a high chance of success. To implement such plans, you will need to register a company, open a bank account, obtain licenses, rent or buy suitable premises, and hire staff with sufficient qualifications. After that, you will have to purchase equipment and materials, conduct an advertising campaign for your beauty salon in Singapore and decorate the premises.
If you did everything correctly, carefully planning each subsequent step, the administrative chores would end successfully. We are ready to help you with a complex and costly organizational stage. This includes registering a company in Singapore, providing professional manager and director services (if necessary), visa support, bank account, obtaining licenses, and support at the initial development stage.
Then, the most challenging part will begin: developing a client base, finding ways for further development, contacts with investors, and promotional activities for a beauty salon in Singapore. Another critical point is expanding the services list, for example, unique massage types, rare SPA procedures, etc. Here you will have to work independently, but Internationalwealth.info experts will always be ready to help (on-demand consultations, subscription service, additional services, solving urgent issues).
A few words about this guide structure: we will tell you about the services set that allow you to quickly and reliably open a beauty salon in Singapore (company registration, substance provision, bank account, licensing, premises, staff). You can choose an all-inclusive service or necessary individual services.
The article’s second part will talk about the approximate cost of beauty salon services in Singapore and the recommended sequence of steps. After that, you will be able to build a pricing policy, focusing on the conditions offered by competitors. But in any case, you should start with the main things – registering a company in Singapore and opening a bank account. At the end of the article, you will find links to additional sources of information on doing business in Singapore. If you still have any questions, please contact our experts at firstname.lastname@example.org.
Starting business in Singapore: organizational issues and requirements
The business opening procedure in Singapore is carried out as quickly as possible, often in just a day. There should be no particular difficulties, only in case you do not decide to save money and do the registration yourself. We remind you that to register a company in Singapore, you will need the services of third-party residents. Therefore, you are unlikely to cope with the task without assistance.
Basic personal requirements for registering a company (beauty salon in our case):
- Age: from 21 years.
- Education: the proper professional skills level (more details below).
- Status: no problems with the law (convictions, inappropriate behavior).
- Visa requirements: valid Singapore passport or work permit.
As for corporate requirements, they will depend on the category you choose when opening a beauty salon in Singapore. In total, there are two categories with different capabilities and requirements.
Category I – beauty salons of this type have no strict hours of operation, age restrictions and are allowed to employ foreign professionals. Requirements include:
- Minimum SGD 50,000 in paid-up capital.
- 80% or more employees must be licensed according to the ME Act.
- The working area must be at least 100 square meters or rented for at least two years.
- Accreditation by CaseTrust.
Category II – such beauty salons must be located away from residential areas, schools, and hospitals. They can employ only Singapore and Malaysian citizens and residents. Other requirements:
- Obligatory compliance with the premises’ norms.
- Company uniform approved by PLRD.
- Employees providing massage services must undergo a mandatory medical screening.
- The premises requirements are the same as for category I – an area of more than 100 square meters or a lease agreement for two years.
- Accreditation by CaseTrust.
Requirements for staff, employees, and specialists:
- CIDESCO professional diploma.
- One of the CIBTAC profile diplomas. Priority areas are massage, physiology, anatomy, pathology, and SPA.
- One of ITEC profile diplomas. Priority areas are beauty and body massage.
- One of Singapore’s ITE certifications. Priority areas are aesthetic and cosmetic therapy. An ITE professional development certificate is also suitable.
- Compliance with the requirements of the national qualification system.
Premises and staff for your beauty salon in Singapore
Premises are an extremely important moment when registering a beauty salon. Singapore has very benevolent but strict attitudes toward companies planning to engage in the beauty business. This means that you should approach the premises’ selection, preparation, and renovation as responsibly as possible. Officials in Singapore follow the rules very strictly, and it is a criminal offense to bribe them in any way.
The list of basic requirements for the premises:
- Absence of any blocking devices and systems for massage and procedure rooms.
- Absence of systems for alerting staff to the arrival of regulatory authorities or the police.
- The numbering of all rooms shown on the plan.
- Mandatory No Entry signs identifying staff break areas and prohibiting access to them by visitors and customers.
- Massage rooms should not include furniture or interior items that block free access to the premises or their inspection.
- Clear segregation of male and female areas.
Conditions and requirements for staff:
- A beauty salon in Singapore can hire local and foreign specialists depending on the chosen category.
- All foreigners must have a work permit when signing an employment agreement with a beauty salon in Singapore.
- Licensing department permission is mandatory.
- Some medical staff (foot reflexology, massage) must undergo regular medical screening.
Singapore beauty salon licensing
This is another essential point that is often overlooked. Many people think that a beauty salon in Singapore receives licenses automatically, which is fundamentally wrong. According to the Massage Establishment Act, if a business intends to offer massage services, reflexology, nail services, and other beauty services, it must first secure a license.
There are two types of licenses (for the two categories of salons that we described above). To receive it, you must fulfill all the requirements for the salon of the selected category, including suitable premises, qualified personnel, and others.
What else requires compulsory licensing:
- Advertising of the company or individual services.
- Electronic communications (radio, TV).
- Private networks with wide coverage.
- Broadcasting of a TV signal for non-residents.
- Working with radioactive materials: storage, use, processing, transportation (devices with isotopes and the materials themselves).
Important! The probability of obtaining a license for business in Singapore on your own tends to zero. To get a license for your future beauty salon without any hassle, please contact our experts for assistance!
How to start business in Singapore: reference information on organizational issues
This section has collected general data on registering a company in Singapore without reference to a beauty salon. This information will help understand the process of business registration in Singapore.
The general algorithm of actions for registering a Singapore company:
- Preparation of documents.
- Approval of company name.
- Processing of documents.
- Company registration.
Advantages of a private company limited by shares (this option is optimal for opening a salon):
- Security of personal assets.
- Dividends are exempt from taxes.
- No currency control.
- No restrictions and limits on profits repatriation.
- Simplified obtaining the Employment Pass and subsequently Permanent Resident status.
Basic requirements and conditions for registering a company in Singapore (without reference to a beauty salon):
- Capital – from SGD 1.
- One shareholder – individual or legal entity.
- One local director. At the initial stage of beauty salon registration, the best option is to use a professional director service.
- Full responsibility of the director/manager under the Singapore Companies Act (ACRA) requirements.
- The director and shareholder may be the same person.
- Legal address is required. It would be best to think about providing real substance for doing business in this country.
- One company secretary – only Singapore resident with sufficient professional qualification level.
An approximate package of documents for registering a company in Singapore:
- Company Constitution
- Declaration of Conformity
- basic information on company officials – shareholders, directors, secretaries
- identity card notarized copies of directors and shareholders
- shareholder’s corporate documents (if it is a legal entity)
- address and office hours
- Consent to Act as Director and Statement of Non-disqualification to Act as Director
- Consent to Act as Secretary
Fiscal liabilities arise if a company earns income in Singapore or transfers income received abroad to this jurisdiction.
The most important points of Singapore’s taxation system:
- Singapore’s taxation system is one-tier.
- The tax year is equal to the calendar year.
- The tax return must be submitted by April 15th.
- Personal income tax – from 0% to 22% for residents, from 15% to 22% for non-residents.
- Corporate income tax – 17% (but there is an opportunity to receive preferences and partial exemption).
- Capital gains tax – 0%.
- Goods and services tax (GST, local analog of VAT) – 7%.
- Withholding tax – from 10% to 22%.
Other taxes and fees in Singapore:
- property tax
- vehicle tax
- customs and excise duties
- lottery tax
- tax on foreign employees
- airport tax
- social security fees
- stamp duty
- Annual Return filing fee
Our other professional services in Singapore:
Average price policy of Singapore beauty salons
When registering a company in the beauty and SPA field, you should remember that the Singapore market is highly competitive. Therefore, it is essential to build the right pricing policy to attract the maximum number of customers within a particular niche.
Average prices for beauty salon services in Singapore
|Service||Average price (economy / business / luxury), SGD|
|Men’s haircut||15 / – / 45-50|
|Women’s haircut||17 / – / 55-85|
|Trendy haircut||– / – / 95|
|Hair coloring||45-85 / 60-140 / 115-165|
|Hair coloring with foil highlights||55-85 / 65 / 135-195|
|Hair curling||45-85 / 75-195 / –|
|Hair treatment||– / 45-105 / –|
|Hair straightening||– / 105-185 / –|
|Hair coloring with ammonia-free dye||– / 60-145 / –|
|Haircut + washing + blow dry||– / 35-45 / –|
|Express facials (30 min.)||– / 45 / 55|
|Facial cleansing (60 min.)||– / – / 105|
|Skin whitening||– / 145 / 155|
|Anti-age care||– / – / 195|
|Peeling (grape seeds, 90 min.)||– / – / 195|
|Oxygen treatment (90 min.)||– / – / 195|
|Facial complex (105 min.)||– / – / 295|
|Neck treatment (30 min.)||– / – / 75|
|Eyecare procedures (30 min.)||– / – / 75|
|Acne control||– / 95 / –|
|Facial care (sensitive skin, 60 min.)||– / 95 / –|
|Facial care (oily, combination skin, 90 min.)||– / 135 / –|
|Facial massage for men||– / 95 / –|
|Armpits||– / 20 / 35|
|One leg (full)||– / – / 65|
|One arm (full)||– / 35 / 50|
|Upper lip/chin||– / – / 25|
|Bikini line||– / – / 35|
|Shoulder||– / 20 / –|
|Shoulder and back||– / 45 / –|
|Chest and abdomen||– / 45 / –|
|Abdomen||– / 20 / –|
|Chinese massage + acupuncture (90 min.)||– / – / 130|
|Swedish massage (90 min.)||– / – / 130|
|Japanese massage (90 min.)||– / – / 130|
|Massage with aromatic oils (90 min.)||65 / from 125 / 140|
|Balinese massage (90 min.)||– / – / 130|
|Therapeutic massage (60 min.)||– / – / 100|
|Wrap||– / – / 65|
|Seaweed wrap (60 min.)||– / – / from 140|
|Wrap with volcanic minerals (60 min.)||– / – / from 140|
|Aromatic wrap (90 min.)||– / 185 / –|
|Anti-cellulite wrap (60 min.)||– / 125 / –|
|Body scrub (30 min.)||65 / from 65 / –|
|Aromatic bath (30 min.)||– / 50 / –|
|Flower bath (30 min.)||– / 60 / –|
|Neck and collar zone massage||65 / – / –|
|Manicure for women||28 / 30 / –|
|Pedicure for women||38 / 40 / –|
|Express manicure||15 / 20 / –|
|Manicure for men||35 / 40 / –|
|Pedicure for men||45 / 50 / –|
|Nail care||– / – / 85|
|Lacquer coloring||– / – / 105|
|Spa manicure||– / 50 / –|
|Manicure||– / – / 125|
Meeting market competitors
This block aims to give you information for building a pricing policy. Opening a beauty salon in Singapore will be successful only if you offer better conditions than your competitors.
Beauty salons to pay attention to in Singapore:
- Hairstyle salons: Tony&Guy, Team Salon, Expat Hair Studio.
- Nail salons: Pink Parlor Nail Salon, Manicurious, Nails D’vine.
- Massage and SPA salons: Healing Touch, Remede Spa, Qi Mantra.
Practical tips for opening a beauty salon in Singapore:
- Study the market carefully.
- Consider target audience preferences. A beauty salon for everyone will be unprofitable.
- Define concept and format.
- Prepare a business plan.
- If there are no problems with the first four stages, start the registration process. For this, you can contact our experts.
- Choose a suitable space.
- Discuss layout and interior with a designer.
- Find your own exclusive identity.
- Select and purchase equipment.
- Decide on suppliers.
- Hire staff.
- Engage in advertising and promotion on social media.
- Wait for the first clients!
How much does opening beauty salon in Singapore cost?
Now, let’s talk about prices. It is almost impossible to cope with opening a salon in Singapore on your own. Therefore, you should initially include the services of a competent and experienced assistant in the project cost.
We have been successfully working with Singapore for a long time, so the company registration (in your case, a beauty salon) will be completed as quickly as possible. Prices for InternationalWealth expert services are given in EUR, but they may change. Therefore, be sure to ask the managers for the current price list.
Basic package of company registration services: EUR 6,900. It includes (services marked with * require annual renewal; basic package cost covers the first year):
- Company registration in Singapore.
- Payment of all mandatory state fees.
- Registration address payment. *
- Local professional director. *
- Secretary and secretarial services.
Important! You need to make a security deposit (EUR 4,000 extra). This amount will be frozen upon company registration and returned to the client in case of an intermediary change or regular company liquidation.
Basic package of services for opening a bank account: from EUR 4999 / EUR 3999 (Singapore / other jurisdictions; we have listed our partner banks; * – the service can be provided remotely without visiting Singapore):
Important! To choose an optimal bank, we will ask you to fill out a short questionnaire before starting the company registration procedure!
Basic package of services for obtaining a license for the massage establishment business: EUR 6,000.
Are you interested in a complete package of services for registering a beauty salon in Singapore, including a bank account and licensing? At first glance, the registration procedure is not complicated, but practice shows the opposite. Many projects are considered too long, and others require significant costs. In addition, the regulator rejects many projects at a very early stage. To avoid this, you will need the services of a competent intermediary whom you can trust fully.
InternationalWealth experts will take care of all the tasks for registering a beauty salon in Singapore, including paperwork, opening a bank account, and obtaining licenses. Also, our clients will be able to use additional services (a complete list is available on request).
With our help, you can start a truly successful business in Singapore!
I need Permanent Resident status in Singapore. What are the grounds for getting it?
Singapore PR has no limited terms, but you have to renew it every five years. The grounds may be as follows:
Political refugee (extremely high probability of refusal).
Investments in the economy (do not confuse with your own business in Singapore). The minimum amount is SGD 2.5 million.
Legal employment (it isn’t easy to get).
Studying at a university in Singapore.
Reunification with family (relatives).
Official immigration programs.
Please note that residence permit and permanent residence are different concepts, which you should not confuse. The primary conditions are sufficient financial status, medical insurance and no criminal records.
I am interested in real estate in Singapore. Are there any restrictions here?
Speaking of foreigners, there are specific restrictions for them. They cannot buy certain types of property without a special permit (based on the Residential Property Act). This property includes:
Any buildings with free land plots.
Affordable housing from the HDB category.
At the same time, you do not need to obtain any special permit if you want to buy property in:
Small residential complexes (apartments).
Objects without attached land plots (exception – Sentosa Island).
The additional expenses volume is about a third of the object cost (intermediary services, mortgage loan, stamp and government duties, transfer of ownership).
Where is business more profitable in 2022 – in Singapore or Hong Kong?
Both jurisdictions are extremely promising for business. Without taking into account many additional factors, we prefer Singapore. Numerous ratings confirm our opinion (ranks are indicated for Singapore and Hong Kong, respectively):
Ease of doing business: 2 / 4.
Economy competitiveness level: 2 / 9.
Simplicity and ease of tax payments: 8 / 3.
Participation degree of the jurisdiction and local business in international trade: 1 / 3.
Economic freedom level: 2 / 1.
Please note that the upcoming transfer of Hong Kong under PRC jurisdiction can seriously affect the prioritization, so Singapore seems to be more attractive in the long term.