When establishing a business in Singapore, there are numerous regulatory matters to consider. One crucial element is the selection of the Singapore Standard Industrial Classification (SSIC) code, a system used to categorise business activities in Singapore.
This guide aims to provide a thorough understanding of SSIC codes, their significance, and tips on choosing the most appropriate code for your company.
The Singapore Standard Industrial Classification (SSIC) codes are a standardised classification system assigned to every registered business entity in Singapore by the Accounting and Corporate Regulatory Authority (ACRA). SSIC codes serve several vital functions:
Selecting the correct SSIC code is paramount for your business’s success. Here are some key considerations:
Your SSIC code should primarily represent your core business activity. Analyse the products or services you provide and select the code that aligns most closely with your primary revenue-generating activity. While some companies may have multiple codes due to diversified operations, it’s advisable to choose a code that best describes your main business.
Accuracy is crucial when selecting your SSIC code. Misclassifying your business can lead to complications with government agencies and regulators. Refer to the most recent SSIC manual provided by ACRA and ensure your chosen code accurately reflects your business activities.
SSIC codes can change or get updated over time. Always verify that you are using the latest version of the SSIC manual or check ACRA’s website for any revisions or modifications before finalising your selection.
If you’re uncertain about which SSIC code best suits your business, consider consulting a professional such as a corporate secretary, accountant, or business consultant. Their expertise can be invaluable in guiding you to the most appropriate code.
Different SSIC codes may have varying implications for licensing, permits, and taxation. Be aware of how your chosen code might affect your business in these areas and plan accordingly.
As your business evolves, your primary activities may change. ACRA allows companies to update their SSIC codes as needed, so don’t hesitate to make adjustments if your business model shifts over time.
Additionally, consider crafting a customised business activity description for your business profile. While it doesn’t need to exceed one page, this tailored description offers the flexibility to provide a more precise representation of your company’s activities upon registration, as ACRA allows deviations from the standard SSIC description.
| 62011 | DEVELOPMENT OF SOFTWARE AND APPLICATIONS (EXCEPT GAMES AND CYBERSECURITY) |
| 62013 | DEVELOPMENT OF SOFTWARE FOR CYBERSECURITY |
| 62021 | INFORMATION TECHNOLOGY CONSULTANCY (EXCEPT CYBERSECURITY) |
| 62022 | INFORMATION TECHNOLOGY CYBERSECURITY CONSULTANCY |
| 63119 | DATA ANALYTICS, PROCESSING AND RELATED ACTIVITIES N.E.C. |
| 63120 | INTERNET SEARCH ENGINES |
| 62090 | OTHER INFORMATION TECHNOLOGY AND COMPUTER SERVICE ACTIVITIES (EG DISASTER RECOVERY SERVICES) |
| 61099 | OTHER TELECOMMUNICATIONS ACTIVITIES N.E.C. (E.G. PROVISION OF VOIP (VOICE OVER INTERNET PROTOCOL SERVICES) |
| 64201 | BANK/FINANCIAL HOLDING COMPANIES (INCLUDING INSURANCE HOLDING COMPANY) |
| 64202 | OTHER HOLDING COMPANIES |
| 70201 | MANAGEMENT CONSULTANCY SERVICES |
| 74902 | BROKERAGE AND CONSULTANCY SERVICES OF INTELLECTUAL PROPERTY ASSETS |
| 70206 | MANAGEMENT CONSULTANCY SERVICES N.E.C. |
| 71121 | GENERAL BUILDING ENGINEERING DESIGN AND CONSULTANCY SERVICES |
| 71129 | ENGINEERING DESIGN AND CONSULTANCY ACTIVITIES N.E.C. |
| 62021 | INFORMATION TECHNOLOGY CONSULTANCY (EXCEPT CYBERSECURITY) |
| 62022 | INFORMATION TECHNOLOGY CYBERSECURITY CONSULTANCY |
| 70209 | BUSINESS AND MANAGEMENT CONSULTANCY SERVICES N.E.C. |
| 69101 | LEGAL ACTIVITIES (EXCLUDING ONLINE MARKETPLACES) |
| 71111 | ARCHITECTURAL SERVICES |
| 73100 | ADVERTISING ACTIVITIES |
| 74902 | BROKERAGE AND CONSULTANCY SERVICES OF INTELLECTUAL PROPERTY ASSETS |
| 74909 | OTHER PROFESSIONAL, SCIENTIFIC, AND TECHNICAL ACTIVITIES N.E.C. |
| 74191 | INTERIOR DESIGN SERVICES |
| 46522 | WHOLESALE OF ELECTRONIC COMPONENTS |
| 46639 | WHOLESALE OF CONSTRUCTION MATERIALS, HARDWARE, PLUMBING, AND HEATING EQUIPMENT AND SUPPLIES N.E.C. (EG CEMENT, SAND) |
| 46541 | WHOLESALE OF INDUSTRIAL MACHINERY AND EQUIPMENT (E.G. INDUSTRIAL CRANE) |
| 46592 | WHOLESALE OF MEDICAL, PROFESSIONAL, SCIENTIFIC AND PRECISION EQUIPMENT |
| 46309 | WHOLESALE OF FOOD, BEVERAGES AND TOBACCO N.E.C. (INCLUDING DRIED OR CANNED) |
| 46599 | WHOLESALE OF OTHER MACHINERY AND EQUIPMENT N.E.C. |
| 46511 | WHOLESALE OF COMPUTER HARDWARE AND PERIPHERAL EQUIPMENT (EXCEPT CYBERSECURITY RELATED HARDWARE AND PERIPHERAL EQUIPMENT) |
| 46551 | WHOLESALE OF MARINE EQUIPMENT AND ACCESSORIES (INCLUDING MARINE NAVIGATIONAL EQUIPMENT AND RADAR) |
| 46424 | WHOLESALE OF COSMETICS AND TOILETRIES |
| 46439 | WHOLESALE OF FURNITURE, HOME FURNISHINGS, AND OTHER HOUSEHOLD EQUIPMENT N.E.C. |
| 46449 | WHOLESALE OF SPORTING AND OTHER RECREATIONAL GOODS N.E.C. |
| 46461 | WHOLESALE OF MEDICINAL AND PHARMACEUTICAL PRODUCTS (WESTERN) |
| 46411 | WHOLESALE OF TEXTILES AND LEATHERS |
| 46412 | WHOLESALE OF ADULTS’ CLOTHING |
| 46413 | WHOLESALE OF CHILDREN AND INFANTS’ CLOTHING (INCLUDING PRODUCTS AND ACCESSORIES FOR INFANTS) |
| 46900 | WHOLESALE TRADE OF A VARIETY OF GOODS WITHOUT A DOMINANT PRODUCT |
| 47711 | RETAIL SALE OF CLOTHING FOR ADULTS |
| 47412 | RETAIL SALE OF COMPUTER HARDWARE (INCLUDING HANDHELD COMPUTERS) AND PERIPHERAL EQUIPMENT, AND COMPUTER SOFTWARE (EXCEPT GAMES, CYBERSECURITY HARDWARE, AND SOFTWARE) |
| 47531 | RETAIL SALE OF FURNITURE (INCLUDING MATTRESSES, CUSHIONS) |
| 47630 | RETAIL SALE OF SPORTS APPAREL AND EQUIPMENT (INCLUDING BICYCLES, BOATS, AND HEALTHCARE EQUIPMENT) |
| 47719 | RETAIL SALE OF CLOTHING, FOOTWEAR, AND LEATHER ARTICLES N.E.C. |
| 47721 | RETAIL SALE OF COSMETICS AND TOILETRIES (INCLUDING SKIN CARE PRODUCTS) |
| 47729 | RETAIL SALE OF PHARMACEUTICAL AND MEDICAL GOODS N.E.C. |
| 47311 | RETAIL SALE OF MOTOR VEHICLES EXCEPT MOTORCYCLES AND SCOOTERS |
| 66192 | CORPORATE FINANCE ADVISORY SERVICES |
| 66309 | FUND MANAGEMENT ACTIVITIES N.E.C. |
| 66305 | VENTURE CAPITAL ACTIVITIES |
| 66302 | HEDGE FUND MANAGEMENT |
| 66306 | SINGLE/MULTIPLE FAMILY OFFICES ACTIVITIES (E.G. MANAGING INVESTMENTS AND TRUSTS FOR A SINGLE OR MULTIPLE FAMILIES) |
| 66301 | TRADITIONAL/LONG-ONLY ASSET/PORTFOLIO MANAGEMENT |
| 66110 | SECURITIES AND COMMODITIES EXCHANGE |
| 66122 | FOREIGN EXCHANGE BROKERS AND DEALERS |
| 64300 | TRUSTS, FUNDS, AND SIMILAR FINANCIAL ENTITIES (E.G. COLLECTIVE PORTFOLIO INVESTMENT FUNDS (EXCLUDING THOSE WITH RENTAL INCOME) |
| 64910 | FINANCIAL LEASING COMPANIES |
| 64993 | REMITTANCE SERVICES |
| 66195 | TRANSACTION AND PAYMENT PROCESSING SERVICES |
| 85304 | COMMERCIAL SCHOOLS OFFERING HIGHER EDUCATION PROGRAMMES |
| 88911 | CHILD CARE SERVICES FOR PRE-SCHOOL CHILDREN (INCLUDING INFANT CARE SERVICES) |
| 85509 | EDUCATIONAL SUPPORT SERVICES N.E.C. (EXCLUDING ONLINE MARKETPLACES) |
| 85405 | TRAINING COURSES FOR INFORMATION AND COMMUNICATIONS, FINANCE AND PROFESSIONAL SERVICES |
| 85408 | TRAINING COURSES FOR MUSIC, DANCING, ART, SPEECH AND DRAMA |
| 85407 | TRAINING COURSES FOR SPORTS AND GAMES |
| 65110 | LIFE INSURANCE |
| 65121 | MARINE INSURANCE |
| 65123 | IMPORT, EXPORT, AND CREDIT INSURANCE |
| 86201 | CLINICS AND OTHER GENERAL MEDICAL SERVICES (WESTERN) |
| 86203 | SPECIALISED MEDICAL SERVICES (INCLUDING DAY SURGICAL CENTRES) |
| 86204 | DENTAL SERVICES |
| 96021 | HAIRDRESSING SALONS/SHOPS (INCLUDING BARBER SHOPS) |
| 86909 | OTHER HEALTH SERVICES N.E.C. (EXCLUDING ONLINE MARKETPLACES) |
| 96022 | BEAUTY SALONS AND SPAS (INCLUDING SLIMMING, SKIN CARE AND HAIR CARE CENTRES) |
| 56111 | RESTAURANTS |
| 56112 | CAFES |
| 56122 | FOOD COURTS, COFFEE SHOPS, AND CANTEENS (WITH MAINLY FOOD AND BEVERAGE INCOME) |
| 56140 | STALLS SELLING COOKED FOOD AND PREPARED DRINKS (INCLUDING STALLS AT FOOD COURTS AND MOBILE FOOD HAWKERS) |
| 56200 | FOOD CATERERS |
| 47102 | MINI-MARTS, CONVENIENCE STORES AND PROVISION SHOPS |
| 47219 | RETAIL SALE OF FOOD N.E.C. |
| 68104 | LETTING AND OPERATING OF SELF-OWNED OR LEASED FOOD COURTS, COFFEE SHOPS AND CANTEENS (WITH MAINLY RENTAL INCOME) |
| 52226 | SHIP MANAGEMENT SERVICES |
| 52227 | SHIP BROKERING SERVICES |
| 52241 | CONTAINER DEPOT SERVICES |
| 52291 | CARGO SURVEYING SERVICES |
| 52292 | FREIGHT TRANSPORT ARRANGEMENT |
| 52222 | SHIPPING AGENCIES (FREIGHT) |
| 30110 | BUILDING AND REPAIRING OF SHIPS, TANKERS AND OTHER OCEAN-GOING VESSELS (INCLUDING CONVERSION OF SHIPS INTO OFF-SHORE STRUCTURES) |
| 50021 | SHIPPING COMPANIES, INCLUDING CHARTERING OF SHIPS AND BOATS WITH CREW (FREIGHT) |
| 50022 | OPERATORS AND CHARTERERS OF BARGES, TUGBOATS, AND BUMBOATS (FREIGHT) |
| 52101 | GENERAL WAREHOUSING |
| 68101 | REAL ESTATE DEVELOPERS |
| 68103 | LETTING OF SELF-OWNED OR LEASED REAL ESTATE PROPERTY EXCEPT FOOD COURTS, COFFEE SHOPS, AND CANTEENS (E.G. OFFICE AND EXHIBITION SPACE, SHOPPING MALL, SELF-STORAGE FACILITIES) |
| 68201 | REAL ESTATE AGENCIES AND VALUATION SERVICES |
| 68209 | REAL ESTATE ACTIVITIES ON A FEE OR COMMISSION BASIS N.E.C. (EXCLUDING ONLINE MARKETPLACES) |
| 43301 | RENOVATION CONTRACTORS |
| 42101 | GENERAL CONTRACTORS (NON-BUILDING CONSTRUCTION) |
| 41001 | GENERAL CONTRACTORS (BUILDING CONSTRUCTION INCLUDING MAJOR UPGRADING WORKS) |
| 43220 | INSTALLATION OF PLUMBING, HEATING (NON-ELECTRIC) AND AIR-CONDITIONING SYSTEMS |
| 59111 | MOVIE PRODUCTION |
| 78102 | MANPOWER CONTRACTING SERVICES (EXCLUDING IT MANPOWER) |
| 78104 | EMPLOYMENT AGENCIES (EXCLUDING DOMESTIC WORKER EMPLOYMENT PLACEMENT AGENCIES AND ONLINE MARKETPLACES) |
| 79102 | TRAVEL AGENCIES AND TOUR OPERATORS (MAINLY OUTBOUND) |
| 82303 | EVENT/CONCERT ORGANISERS |
| 88911 | CHILD CARE SERVICES FOR PRE-SCHOOL CHILDREN (INCLUDING INFANT CARE SERVICES) |
| 81211 | GENERAL CLEANING SERVICES (INCLUDING CLEANING OF PUBLIC AREAS, OFFICES AND FACTORIES) EXCEPT HOUSEHOLD CLEANING AND ONLINE MARKETPLACES |
| 77101 | RENTING AND LEASING OF PRIVATE CARS WITHOUT DRIVER (EXCLUDING ONLINE MARKETPLACES) |
| 49215 | RENTAL AND LEASING OF CARS WITH DRIVER (EXCLUDING STREET-HAIL AND RIDE-HAIL SERVICE PROVIDERS) |
| 95301 | REPAIR AND MAINTENANCE OF MOTOR VEHICLES (INCLUDING INSTALLATION OF PARTS & ACCESSORIES) |
| 93203 | NIGHT CLUBS, DISCOTHEQUES, DANCE CLUBS AND KARAOKE LOUNGES |
| 63909 | OTHER INFORMATION SERVICE ACTIVITIES N.E.C. |
| 28300 | INSTALLATION OF INDUSTRIAL MACHINERY AND EQUIPMENT, MECHANICAL ENGINEERING WORKS |
| 32909 | OTHER MANUFACTURING INDUSTRIES N.E.C. |
| 31001 | MANUFACTURE OF FURNITURE AND FIXTURES OF WOOD (INCLUDING UPHOLSTERY) |
Determining your company’s SSIC code is a critical step. Here’s how you can do it:
Selecting the right Singapore Standard Industrial Classification (SSIC) code is crucial for regulatory compliance, tax optimisation, and effective business operation. Take the time to research and choose the most accurate code that reflects your primary business activities. Staying informed and up-to-date with SSIC codes will ensure a smooth and successful business journey in Singapore.
Setting up a company in Singapore can be challenging, but with professional support, it can be simple, Counto’s mission is to support your new business, take away the complexities of compliance, and save you time and money throughout the year. Speak to us directly on our chatbot, email us at [email protected], or contact us using this form.
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