When registering your company in Singapore, one of the key decisions you’ll make is selecting the right Singapore Standard Industrial Classification (SSIC) code. This code classifies your business activities and is mandatory for ACRA registration.
What is an SSIC Code?
The SSIC code is a 5-digit classification that describes your primary business activity. It’s based on the Singapore Standard Industrial Classification (SSIC) 2020, which aligns with international standards.
Why SSIC Codes Matter
Your SSIC code affects several aspects of your business:
- Regulatory Compliance: Some industries require additional licenses based on their SSIC code
- Government Statistics: ACRA uses these codes for economic data collection
- Business Profile: Your SSIC appears on your ACRA Business Profile
- Grant Eligibility: Some government grants are industry-specific
How to Choose the Right Code
Step 1: Identify Your Primary Activity
List your main business activities in order of importance. For example:
- Software development
- IT consulting
- Digital marketing services
Step 2: Search the SSIC Directory
Visit the Singapore Department of Statistics SSIC page to browse codes. Alternatively, use the search function in BizFile+ during registration.
Step 3: Be Specific
Choose the most specific code that accurately describes your activity. Avoid broad classifications if a more precise one is available.
Common SSIC Codes for Tech Startups
| Business Activity | SSIC Code |
|---|---|
| Software Development | 62011 |
| IT Consulting | 62020 |
| Data Processing Services | 63111 |
| Digital Marketing | 63901 |
Important Notes
- You can only select one primary SSIC code during registration
- If your business spans multiple activities, you can update your SSIC later
- Some activities may require additional approvals (e.g., financial services, healthcare)
Conclusion
Choosing the correct SSIC code is crucial for compliance and future business operations. Take time to research and select the most appropriate code for your primary business activity.
Need help with SSIC selection? Contact our team for guidance on your company registration.