Find the Right SSIC Code for Your Business
Find the right SSIC code for your business in Singapore. Quickly search, filter, and understand classification for company registration & compliance.
Results:
SSIC Code
Activity Name
Description
What is an SSIC Code?
Classification
Businesses are categorized based on their primary activities. This helps in economic data collection and industry analysis.
Registration
When incorporating a company in Singapore, selecting the correct SSIC code is required by ACRA (Accounting and Corporate Regulatory Authority).
Analysis & Reporting
SSIC codes help government agencies and businesses analyze trends, tax benefits, and licensing requirements.
FAQs
Why are SSIC codes important?
The assignment of the SSIC code plays a crucial role in accurately representing the ‘economic activities’ of your company. Economic activities involve the utilization of resources such as labor, capital, goods, and services in a production process to create goods and services. These activities are classified into three distinct types:
- Principal Activity: This is the primary activity contributing the most value to the goods and services produced by the company. It may also denote the activity with the highest value added among the company’s various activities.
- Secondary Activity: This term refers to an activity that is not the company’s principal activity but is nevertheless performed by the company.
The fundamental SSIC principle revolves around assigning a code based on the company’s principal activity—the one that contributes the most to the value added to goods and services. In instances where a company engages in more than two principal business activities, it is imperative to list the two activities with the maximum revenue when registering with ACRA.
During the name reservation stage, if the selected SSIC code necessitates further review and approval from relevant referral authorities in Singapore (such as the Monetary Authority of Singapore, Ministry of Law, Enterprise Singapore, Council for Estate Agencies), the application undergoes scrutiny by these respective bodies. The review process typically spans 14 to 60 days to ensure compliance and appropriateness. This meticulous approach ensures that the SSIC code accurately reflects the nature and scale of the company’s economic activities within the regulatory framework of Singapore.
List of Common SSIC codes
The most commonly used SSIC codes in Singapore are the following codes:
Does my SSIC require license?
To check if certain SSIC codes require licensing in Singapore, you need to identify if the business activities associated with the SSIC codes fall under regulated activities. In Singapore, certain business activities require a license or permit from the relevant government authorities. Here's how you can determine if licensing is required:
- Identify the SSIC Code: First, make sure you have the correct SSIC code for the business activity you are concerned about. This code should most closely reflect the primary activity of your business.
- Consult ACRA's Resources: The Accounting and Corporate Regulatory Authority (ACRA) provides information about business activities and their requirements. You can visit their website for guidance on specific SSIC codes: ACRA Guide: Referral Authorities.
- Seek Expert Advice: For a comprehensive understanding, especially for complex business models, consulting with a business advisor or a company like Stellar can provide personalised guidance and assistance in navigating these requirements.
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