Recruitment and Consultancy agencies have helped about 50,000 Singapore companies hire highly-skilled individuals, generating close to 9 billion SGD annually to the State budget
Singapore has more than: 3200 Executive Recruitment Agencies, 2200 Foreign Workers Agencies and 1100 Foreign Domestic Workers Agencies
Most agencies use commissions to drive and motivate their consultants. And most bosses will only pay commissions when the consultant has covered the threshold
Healthcare, Education and Pharmaceutical are known as evergreen industries that will always be in need of workers
Start Your Own Employment Agency in Singapore from $395
Singapore is a thriving economy with business owners and investors, both local and foreign, creating a continuous string of employment opportunities for workers of all skill levels. Many of these businesses have entrusted the job of interviewing, assessing and selecting the most qualified of job seekers to Employment Agencies, most of which specialise in niche markets, such as construction, finance, healthcare or hospitality.
Employment Agencies generally perform the following functions:
- Communicating with job seekers regarding their job applications
- Collating the resume of job seekers
- Facilitating the placement of candidates with employers
- Submitting Singapore Work Visa applications to the authorities on behalf of employers or candidates, when necessary
Required Licences and Certifications for your Employment Agency
Incorporating your Employment Agency On ACRA
Registering your company on the Accounting and Corporate Regulatory Authority (ACRA) of Singapore is the first step to kicking off your business venture. Successfully registered, your company will receive a Unique Entity Number (UEN), which is required when making applications for other licences and permits.
Employment Agency (EA) License and Security Deposit
In addition to registering a business licence on ACRA, employment agencies will also require an Employment Agency (EA) licence issued and governed by the Ministry of Manpower (MOM) before commencing any business activity. MOM issues two categories of licence for employment agencies in Singapore:
- Select Licence: Salary above S$4500 per month
- Comprehensive License (3 sub-categories): No salary restriction
A Security Deposit is required following the issue of the EA licence:
- Select Licence: S$20,000
- Comprehensive License: S$60,000
An EA licence is valid for 3 years.
Certificate for Employment Intermediaries
All employees including key appointment holders are required to be certified under the Certificate for Employment Intermediaries (CEI) course in order to work in an employment agency. Key appointment holders need to complete the 40-hour course while other personnel need to complete the 32-hour course. All employment agency personnel must also be registered with MOM and be issued with a standardised registration card.
VentureHaven will not only get your Employment Agency incorporated in Singapore but also advise you on procuring all necessary certification to get your business started.