Understanding SSIC Codes: Why They Matter?
Last updated on 1 September 2025
When setting up a company in Singapore, one of the first steps is selecting the correct Singapore Standard Industrial Classification (SSIC) code. While this may seem like a minor checkbox during registration, your SSIC code impacts how your company is classified by government agencies, what licenses you require, and whether you qualify for specific tax incentives.
What Are SSIC Codes?
SSIC codes are issued by the Singapore Department of Statistics and are used to classify business activities across all industries. Every business, from retail shops to technology startups, must declare its SSIC code during registration with the Accounting and Corporate Regulatory Authority (ACRA).
In summary, your SSIC code:
- Declares up to two SSIC codes—one primary and one secondary code
- Helps the government determine regulatory and licensing requirements
- Influences reporting and tax treatment for your company
Why Choosing the Right SSIC Code Is Important
Selecting the correct SSIC code is not simply a formality. It can shape how your company operates and is regulated.
- Regulatory compliance: Certain industries, such as finance, education, and healthcare, require additional approvals or licenses based on your SSIC classification. For example, MOM will determine foreign worker quota and work pass eligibility based on the company’s SSIC Code (i.e. sector classification services, manufacturing, construction, etc.).
- Banking and tax benefits: Certain codes can impact how banks perceive your company and determine whether it qualifies for industry-specific tax exemptions. For example, investment holding companies often face specific reporting obligations and tax considerations.
- Smooth incorporation: Engaging registered Corporate Service Providers (CSP) that provide incorporation services in Singapore is far more efficient, as they can help advise on the correct SSIC Code from the beginning.
Choosing the correct SSIC code helps ensure compliance and minimises the risk of future regulatory issues.
Tips for Choosing the Right SSIC Code
- Focus on your main revenue-generating activity rather than listing every possible service.
- Update your SSIC code if your company diversifies into new areas, rather than complicating the initial incorporation process with the wrong choices.
- Please note that some codes require pre-approval from regulatory bodies before ACRA can complete your registration.
How to Find Your SSIC Code
The complete SSIC directory is published by the Singapore Department of Statistics and is integrated into ACRA’s BizFile system during the company registration process. You may:
- Search the SSIC directory directly, or
- Engage registered CSPs or accounting firms in Singapore to confirm the most accurate code for your business.
The Bottom Line
Choosing the correct SSIC code is a foundational step in company registration. When done correctly, it enables a smoother incorporation process, prevents regulatory complications, and positions your business for long-term compliance and growth.
