Most of the foreign investors coming to Singapore are interested in the information and communications technology industry because of the many incentives granted by the government. From research and development (R&D) grants to tax breaks and a large number of crowdfunding platforms, Singapore represents the perfect place to set up an IT company. Considering the broad spectrum of activities the IT industry implies, here is a great idea: security technology.
The latest UN Global Cybersecurity Index placed Singapore among the most committed nations in the world in terms of cyber security. The same report indicates the security technology market in Singapore will reach 900 million SGD in revenue by 2020. Also, at the end of the 2016, Singapore launched the Cyber Security Strategy through which security technology companies will benefit from governmental assistance.
If you want to start a security technology business in the city-state, our Singapore company formation experts can guide you through the procedure.
Types of businesses which can be set up in the Singapore cyber security sector
The security technology industry in Singapore is one of the most developed at this moment. An entrepreneur who wants to open a company in Singapore in this field can choose to offer various security technology services. Among these are:
- – Internet security services;
- – creating cyber security programs;
- – software development.
The programs created by security technology companies in Singapore can be implemented in a great number of industries, among which transportation and logistics which is why starting an IT company which offers targeted solutions is a great business idea.
Our company formation consultants in Singapore can assist with the company registration process of the security technology business.
Licenses for security technology companies in Singapore
No matter the field in which the security technology company will operate in, it will need to obtain one of the licenses issued by the Infocomm Development Authority in Singapore. It should also be noted that the government is planning of introducing a new Cybersecurity Law which will enable companies to resolve cybersecurity issues faster.
Our Singapore company formation advisors can offer more information on the licenses related to opening a security technology company here. Please feel free to contact us for assistance with the company registration procedure in Singapore.