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Open a Sports Business in Singapore

Open a Sports Business in Singapore

Singapore is one of the countries where foreign enterprisers can find unlimited investment possibilities in numerous industries. If until several years ago it seemed unlikely to set up a business in the sports industry, such as fitness or gym clubs, nowadays this sector has become a challenge for those interested in establishing a company in this sector. The rise of the event management industry has also led to the development of sports businesses in Singapore.

If you want to open a company in Singapore in the sports industry, our local representatives can assist you with the company formation procedure.

You can also watch the video below for information on how to set up a sports business in Singapore:

How to open a company in Singapore as a sports business in 2024

The most important step for opening a sports company in Singapore is the company registration process. First, the entrepreneur must choose the type of structure and then register it with the Accounting and Corporate Regulatory Authority in the city-state. The limited liability company is usually the preferred choice among investors. Once the company incorporation and tax registration procedures are completed, one must pay attention to the licenses that must be obtained with various authorities. It is important to keep in mind that fitness clubs in Singapore may apply for one or more licenses depending on the activities it will undertake.

Licenses for fitness and gym clubs presented by our Singapore company formation experts

Opening a sports business in Singapore in 2024 implies finding a suitable location. When establishing a gym or a fitness business, the premises must be carefully selected. Special licenses required for sports businesses in Singapore are:

  • the copyright license which is issued by the Composers and Authors Society in the city-state and which grants the right to play music in the premises;
  • the non-residential TV license which is issued by the Media Development Authority and which grants the right to broadcast;
  • food and beverage license, if the organizer plans to serve such products.

The personnel of the Singapore gym or fitness club must also be qualified in order to be allowed to work. The employees must have a fitness professional license which is issued by the Singapore Sports Council.

Digital fitness and wellbeing in Singapore

As more and more consumers choose to access digital services in most sectors, this trend could have not passed unnoticed in the fitness sector in Singapore. As a result:

  • digital fitness and wellbeing has become quite a profitable market, projected to reach a revenue of USD 199.7 million by the end of 2024;
  • the same sector is expected to grow by 5.71% annually by 2028, reaching a total market volume of approximately USD 249.4 million;
  • user penetration rate is set to stand at 34.22% in 2024, and reach 38.96% by 2028;
  • the average amount of money spent per user is also expected to grow to approximately USD 100.

For assistance in opening a Singapore company in the sports industry, do not hesitate to contact our Singapore company formation experts.