The textile sector, one of the oldest segments of the manufacturing industry, has consistently performed well within the global economy. Asian countries are renowned for their textile mills and manufacturing firms that export products worldwide. Singapore, in particular, excels as a major producer and importer of luxury garments and textile materials, attributed to the high standard of living enjoyed by its residents.
Entrepreneurs interested in establishing textile manufacturing businesses in Singapore can take advantage of numerous government incentives. Our local company formation specialists provide guidance on how to set up a textile manufacturing firm.
Company Formation Process for Textile Manufacturing in Singapore
Establishing a textile business in Singapore in 2024 is viable for both small and large enterprises. After developing a business plan and selecting a location, entrepreneurs can initiate the company formation process.
This involves preparing and filing incorporation documents with the Trade Register. Foreign investors must engage local agents to handle the registration with ACRA.
Regulatory Requirements for Textile Manufacturing in Singapore in 2024
A crucial consideration for starting a textile manufacturing company in Singapore is adherence to the standards set by the Office of Textiles and Apparel. These regulations pertain to the import procedures for textile materials and sewing machines.
Our company registration consultants in Singapore can provide detailed information on textile import regulations.
Standards for Textile Businesses in Singapore
A key regulatory requirement for opening a textile manufacturing business in Singapore is compliance with the Consumer Goods Safety Regulations, which mandate that:
- Products must meet ISO safety standards.
- Clothing labels must be in English if intended for export.
- Garment sizes must be marked according to the target export market.
The Textile Market in Singapore
While the textile industry is not among the most developed in Singapore, the yarn market, particularly those using natural materials like cotton and viscose, is prominent. As of 2024, there are nine major manufacturing companies in the city-state.
Additionally, the apparel clothing retail sector in Singapore is expected to generate $5.7 million in revenue by 2028, with an average revenue per customer projected to be approximately $247, driven by high household incomes.
Feel free to contact our incorporation team to find out more.