Find the Singapore Standard Industrial Classification (SSIC) code relating to your business activities by using this search tool. The code is based on the latest SSIC version issued by the Department of Statistics.
Tutorial SSIC Code
The tool we created can help with your search for Singapore standard industrial classification (SSIC) code managed by ACRA. This code is useful for businesses when it comes to seeking government grants or incentives in Lion City.
With just a click, you can get access to the desired SSIC code for your business activity immediately. Check out the video to understand more about how the tool works.
What does SSIC code mean?
So, what is the SSIC code? What meaning does it have in the process of setting up the business in Singapore?
The SSIC code, shorten for Singapore Standard Industrial Classification Code, is the number created by the Singapore government used to classify fields of business for administrative purposes.
To know the business activities your company operating are related to which SSIC code, the ACRA also provides the SSIC keyword search engine through the bizfile website.
The purposes of using the SSIC code are for:
- Keeping Singapore stay updated on international standards, emerging businesses, and trends in the economy.
- Helping the ACRA to determine which businesses need a license to carry out business activities
- Helping the IRAS in determining whether the company can enjoy the tax incentives or not.
How to select the right SSIC code for your business
Choose the codes that are relatable to your principal activity most, meaning activities that contribute most to your business profit/revenue.
The owners or entrepreneurs should be able to list the principal activities of your company. And then match it with the primary code.
Most common SSIC code list singapore
For your convenience, we have gathered some of the commonly used SSIC codes classified by category here for your reference.
SSIC code latest change
After some time, the SSIC codes are reviewed to evaluate whether they can describe the business activity correctly or not. Some of the codes will be changed since they do not carry the same meaning as they are before. These changes are necessary for both the Singapore government and the business owner since this is a sign that the economic circumstances are changing.
Compared to the SSIC 2015 (Version 2018), the ACRA changes of business activity in the SSIC 2020 indicate some following highlights:
- Inclusion of 5-digit definition for economic activities
- Removal of obsolete codes
- Improvement to the alphabetical index
- New 5-digit codes for online marketplaces
- Merging of retail sale channels
- Re-scoping of SSIC 854 “Other education”
For more information, you can check out the Complete report (SSIC 2020)
After checking SSIC code, then what comes next?
After choosing the SSIC code for your business activities, follow some check-ups to get a better picture of the business industry you are in, and comply with those.
1. Check business licensing requirements
Reviewing your SSIC code to know whether you need to follow business licensing requirements in Singapore.
After checking SSIC codes, you should check licensing requirements. Some industries only require one license in Singapore, while the others require multiple. For instance, in terms of retail license Singapore, you need to consider the nature of the good to know what kind of license is needed for business operating. For a better understanding, feel free to check out our article about 14 Licenses and Permits for some specific business types in Singapore.
2. Assess your eligibility for Singapore grant incentives and schemes
SSIC code is also used to determine your company’s eligibility for grants or tax incentives and other government support programs.
Do your research thoroughly so that you will not miss any opportunities to enjoy the benefits. Singapore is known for its business-friendly environment. It offers many programs to encourage start-up growth. So don't miss out on your business chances to see if your company is eligible for government grants, or business grants after choosing the SSIC code with our Singapore grants and incentives tool.
Explore Singapore Incorporation Service
The SSIC code must be submitted along with the company’s name at the beginning of the business registration. Our incorporation service can help you.
We offer a full package of incorporation. Starting from providing you with the most updated SSIC code list and dedicated 1:1 guidance through the process of business incorporation, to the post-registration and maintenance activities.