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How to Start a Travel Agency in Singapore

According to the Singapore Tourism Board, in the first quarter of 2018, there was growth by 7.3% in International Visitor Arrivals (IVA) in the country. Overseas travel by Singaporean residents also has become more prevalent over the years and is expected to increase further in the future due to increasing economic growth within the country. This phenomenon easily creates a rise in travel agencies in Singapore due to its business prospects, but how to start one yourself? This article explains it to you.

In Singapore, a travel agency is a business that provides service related to tours and travels, whether by air, sea, or land. In order to open a travel agency, a company needs to first complete company registration under the Standard Industrial Classification (SSIC) codes of 78211 for Travel Agents and Tour Operators or 78212 for Ticketing Agencies. The company must also have already paid-up the capital of minimum S$100,000. Appropriate officers that consisting of a Singaporean citizen or a Singapore permanent resident or employment pass holder who’s appointed for the position of the key executive must be present in the company. Singapore Tourism Board (STB) may require for the appointed executive and managerial that are appointed for the company to have a good moral character and fame. This can be proved by a police clearance, credit background checks and letters of good conduct issued by government agencies. The appointed person also must already be approved by the STB. Travel agency must have a website for a business using the “Terms and Conditions for the Use of the Travel Related Users System (TRUST)” specifically for the travel industry in Singapore. A registered office space and signboard must be available in all of the company‚Äôs business premises.

Any businesses that facilitates a person’s ability to travel by selling and or arranging transportation tickets, hotel accommodation, as well as foreign visas to overseas or within Singapore must obtain a license.

To apply for a license, a travel agency can go through the procedures online via companies like a qualify company registration. The application processing time can take up to one or two weeks, even longer if deemed necessary by the authorities. An In-Principle Approval (IPA) letter will be sent through postal mail. In this letter, there might be certain conditions that need to be fulfilled further by the travel agency such as submission of the tenancy agreement. A tenancy agreement is for the premises intended for the travel agency business to be conducted. If the premise is private property, proof of ownership needs to be provided. After completing all the documents required by PIA, a final approval letter will be sent. After that, the company is expected to collect its Singapore travel agency license and pay for a license fee. This license is valid for two years and must be renewed one month prior to expiration.

In a case where the application is rejected, an appeal may be filed within one month of rejection. However, this does not usually happen often as long as all the necessary documents are submitted and are accurate. If you can visit A1 Business to find more on the latest update over here, https://www.a1corp.com.sg/

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