How do I get a security agency license in Singapore? To obtain a security agency license in Singapore, there are several critical steps and requirements that need to be adhered to, under the oversight of the Police Licensing and Regulatory Department (PLRD) of the Singapore Police Force.
1. Business Registration and Corporate Structure
Firstly, your security agency must be a legally registered business entity with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore. The appropriate business structure for a security agency is typically a Private Limited Company. This involves selecting a unique business name, appointing company officials in compliance with ACRA’s requirements, securing a physical office address, indicating your issued capital (minimum SGD1), and determining your Financial Year-End for taxation and other corporate obligations.
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2. Licensing and Regulatory Compliance
To operate legally, your security agency must acquire either a Security Service Provider or Security Agency license from the PLRD. This requires meeting specific regulatory requirements. For instance, you must have a minimum of SGD300,000 as your company’s issued share capital (which will increase to SGD500,000 from July 2023), and the company should be limited and established in a commercial space. At least two directors with clear responsibilities must be appointed to manage the company.
3. Directors’ Qualifications
The directors of your security agency must meet certain qualifications. They should have a minimum of two years’ experience in a security-related role and be residents of Singapore. Additionally, they should be certified in specific modules related to managing security operations and emergencies, as stipulated by the PLRD. Failure to meet these requirements disqualifies an individual from being a director.
4. Employee Training and Certification
Apart from the directors, all security personnel must be adequately trained and certified. This includes completing courses in security operations and emergency management. Comprehensive background checks are also necessary for all personnel before hiring, ensuring trustworthiness and reliability in the services provided.
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5. Ensuring Ongoing Compliance
It’s crucial to maintain compliance with all regulatory requirements, including renewing business licenses and security personnel certifications regularly. Compliance with the regulations set by the Association of Certified Security Agencies (ACSA) will facilitate the renewal of business licenses and employee certifications.
6. Application Process
For the application process, companies must submit their business profile documents and individual profile documents. The application fee is SGD400, and the process is done through the GoBusiness Licensing portal.
These steps encapsulate the experience, expertise, authoritativeness, and trustworthiness necessary in the security industry, reflecting Singapore’s commitment to maintaining high standards in this sector. The Singapore government, through entities like PLRD and ACRA, ensures that security agencies operate with the highest level of professionalism and adherence to legal and regulatory frameworks, contributing to the country’s reputation as one of the safest in the world.