The effect of digital technology can now be observed in almost every aspect of life. For firms that can embrace the benefits of new digital technology and capitalise on the linked growing digital business models, there are substantial prospects for growth and expanding access to new markets and customers.
For many years, the telecommunications sector has been drastically changing the way people live, work, and play. However, the transition to 5G networks, the increased usage of emerging technologies like artificial intelligence and machine learning, and the development of internet of things (IoT) applications are all occurring at the same time as increased competitive and regulatory challenges. All of this necessitates unprecedented levels of flexibility and cost-effectiveness.
Companies who are world-class in adapting and driving new value with agility will be the ones that succeed in the future. It is vital for their survival and success to adopt a strategic, forward-looking company plan.
In Singapore, how do you start a telecommunications company?
- First, register your company with Singapore’s Accounting and Corporate Regulatory Authority (ACRA). You must register your firm as a sole proprietorship, partnership, or private limited company. Given the responsibilities inherent with a storage and warehousing business, a private limited company is the ideal solution.
- Secure a premise for your business. Once you’ve found a location, double-check that it complies with current building rules and fire safety regulations. Any substantial renovation of the premises necessitates the submission of an application to the Building and Construction Authority of Singapore for a building work permit (BCA). Before you may occupy the area once the construction is finished, you’ll need to get a Certificate of Statutory Completion and/or a Temporary Occupation Permit from BCA. All rehabilitation work, including architectural work, must be done by certified or registered contractors.
Licenses for Telecommunications
The Infocomm Development Authority of Singapore will need a Facilities-based Operator License for any telecommunications that entail supplying networks for internet, mobile, and paging services (IDA). If your company additionally offers prepaid calling and audiotex, you’ll need a separate IDA licence called the Services-Based Operator License. IDA also provides import and sale licences for authorised and non-approved telecommunications products. A Telecommunications Dealers’ (Class) Permit is issued to import and distribute telecommunications products. The Singapore Police Force requires a Secondhand Goods Dealers’ License for selling used telecommunications devices and dealing with trade-ins.
Bluebox has assisted hundreds of clients in forming their businesses. In less than 24 hours, we can help you register your business with ACRA. Our complete corporate services can offer you with a tailored solution that includes the application for all necessary licences and permissions to start a telecommunications business.