When registering a company, you need to determine the principal activity of the company and submit it for official registration.
The principal activity is the category of goods, varieties and service items that the country of registration allows the enterprise to produce and operate.
When choosing a principal activity, business owners only need to refer to the Singapore Standard Industrial Classification (SSIC) issued by The Singapore Department of Statistics (DOS) and select two items that are suitable for their business content.
What is the Singapore Standard Industrial Classification (SSIC)?
The four-digit SSIC code helps local authorities identify the main source of income for a local business, which is similar to the International Standard Occupational Classification (ISIC) and other local industry classifications.
The industry classification catalogue divides the principal activity into 22 categories, including agriculture and fishery, manufacturing, construction, wholesale and retail trade, transportation and warehousing, information and communication, real estate and so on.
As well as countless sub-categories, each sub-category is registered by a five-digit industry code + an English description.
The Singapore government uses SSIC codes to measure the activity of different industries in the economy, and then adjusts policies accordingly to stimulate economic development and growth.
The government regularly collects census data with Singapore Standard Classification of Occupations (SSOC) employees.
How to determine the principal activity of the company?
Step 1: Enter a keyword into the search box and click “Submit”.
Step 2: The system will generate all the SSIC categories that contain the keyword you have entered. Select the one that best describes your main business activity.
Step 3: According to the search results, select the code that matches your principal activity.
What are the consequences of SSIC code errors?
Unless you choose the correct SSIC code, you will:
- inability to apply for the relevant permit or license
- Inability to obtain financial incentives from the government for specific business areas
- Or be blamed for providing false public data
