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Open a Beverage Company in Singapore

Open a Beverage Company in Singapore

The food and beverages (F&B) sector is one of the greatest contributors to Singapore’s economy, recent statistics showing this industry brings more than 8 billion SGD to the city-state’s Gross Domestic Product on a yearly basis. The tourism and retail industries are some of the main supporters of the food and beverages segment, as the number of visitors coming to Singapore has also increased spectacularly.

Foreign investors interested in starting a business in Singapore can choose the F&B industry, particularly the beverages segment which benefits from many incentives from the government. Our company formation specialists in Singapore can offer more information on the legislation related to the beverages industry in 2024.

The video below shows the main steps to follow when opening a beverage business in Singapore:

How to open a Singapore company in the beverages industry

The first steps to set up a beverage business in Singapore in 2024 imply choosing a company name, drafting the incorporation documents and filing them with the Accounting and Corporate Regulatory Authority based on which the company will obtain its certificate of registration. Our company registration agents in Singapore can assist with this process.

Following the Singapore company formation procedure, one must pay attention to the requirements of the Liquor Control Law which was last amended in 2015 and which provides for both the production and the supply of beverages in the city-state.

Licenses for beverage companies in Singapore

In order to open a company in Singapore as a beverage business, one must take into account the following:

  • the production of the drinks;
  • the bottling of the beverages;
  • the retail and supply of the beverages.

Setting up a business in the beverage industry in Singapore requires obtaining special licenses for each of these procedures. Import licenses are required if the ingredients for the production of the drinks are brought from outside Singapore. When it comes to the bottling of the beverages, special labeling requisites must be complied with, as for the retail and supply, a retail license must be obtained with the relevant authorities.

Also, the premises of the Singapore beverage company must comply with various requirements and must undergo an inspection from the Agri-Food & Veterinary Authority of Singapore.

Projections for the beverages market in Singapore

Beverages are widely sold in Singapore in supermarkets and hypermarkets, but also in smaller establishments. This means that this industry is expected to increase the generation of revenue.

If you want to set up a business for the sale of beverages in Singapore, here is some useful information:

  • the revenue of this sector is expected to reach USD 407.8 million by the end of 2024;
  • it is one of the sectors forecast to register one of the biggest increases, of 11.37% per year by 2029;
  • the projected value of this market is projected to USD 698.6 million by 2029.

For full information on the requisites to establish a beverages company in the city-state in 2024, please feel free to contact our Singapore company formation consultants.