Setting up an Education Business in Singapore
Singapore is among the best education system on the planet. In addition to becoming significant commerce and financial hub, the region has one of the globe’s highest academic institutions.
Numerous Singapore and foreign corporations are interested in the economic prospects that have arisen as a result of the nation’s progress as a renowned educational establishment. The city-state has around 1,300 privately owned educational institutions, with more opening every year. This industry gives a lot of importance not only to the country’s well-developed teaching and learning system, but also to its simple, accessible, and quick method for establishing academic institutions.
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Why Singapore is an Educational Hub?
Singapore has several other strengths for becoming a leading attraction for learners from all over the globe, adding to its educational successes.
Higher education institutions
Singapore has numerous exceptional institutions, including many that are world-renowned. In addition to Singapore's four highest-ranked universities — Nanyang Technological University, Singapore University of Technology and Design, Singapore Management University, and the National University of Singapore — the city-best state's worldwide institutions have established Asian campuses. Among them are the University of Chicago, UNLV, INSEAD, NYU's Tisch School of the Arts, and Yale.
An environment that is secure and reliable:
The country boasts a safe, stable environment that helps both economically and socially. Singapore is a model of efficiency, with a strong business government and economic stability. This efficiency, regulation, and get it accomplished mentality extends to the education industry.
Education costs:
Education in Singapore, as per the Business Standard, is more economical, charging 25% less than in the US and the UK. A comprehensive MBA degree in Singapore can cost a range between $57,000 to $60,000. Due to this scenario, students who reside permanently in Singapore do not need to go far or pay a massive fee for a high level of education.
Guarantee of educational quality:
To safeguard learners, the Private Education Act requires the majority of Private Academic Institutions to enroll with the Board for Private School education. The duration of time a school's certification is valid is governed by how well it satisfies CPE's registration standards. This motivates academic institutions to step up their game to extend the time frame.
Future Possibilities of the Singapore Education Sector
The focus of learning has changed from traditional information exchange in a teacher-cantered learning environment to one that emphasizes environmental knowledge far beyond classes, fostering cooperation. There has been a worldwide trend towards digital techniques, which includes both information and communications technology and integrated multimedia.
Private companies make up a sizable component of the business. Top colleges in Singapore make over S$1.6 billion as their yearly revenue and enroll approximately 53,000 students. It is not uncommon to come across colleges with over 2,500 students and yearly fees of much more than S$25,000. Learners from all over the globe see Singapore as a leading location where they may engage in their studies and get elevated strategies that will enable them to pursue a new growth outlook. With multinational entrepreneurs launching fresh, creative, high-quality private products, Singapore’s education industry is likely to grow.
Types of Private educational institutions in Singapore
Private educational institutions in Singapore are generally categorized into three sections, they are as follows:
Pre-school:
Pre-schools are academic institutions or educational places that provide early childhood education to children until they enter primary school.
Pre-schools are divided into two categories:
- Kindergartens: Kindergartens offer early childhood education programs to children aged two to seven. Kindergarten is by far the most basic level of schooling. It may also include phases like Playschool, Pre-Nursery, and Nursery. The majority of kindergarten sessions last a maximum of 3 hours for Pre-school and Pre-Nursery, and a maximum of 4 hours for Nursery, operating 5 days a week.
- New-born Facilities: Childcare costs and pre-school growth programs exist in childcare facilities for kids aged 1 year 6 months to under 7 years old. Some facilities also offer baby care services for kids aged 2 to 1 year 6 months. To meet parents’ varying working hours, institutions may provide comprehensive, half-day, and flexible programs.
Academic Institutions:
An educational establishment is officially defined as an institution that focuses on teaching ten or more persons, or a location where ten or more people are routinely trained, whether in one or more classes. These institutions often provide certifications, courses, and diplomas in addition to conceptual, organized, and proper learning.
- Institutes of fine arts
- Development institutes, which offer diplomas or certificate programs, and so on.
- Centres for correspondence courses
- Academic courses culminating in GCE assessments are provided by educational establishments.
- Business colleges
- Institutes of linguistic
- Institutes of education or examination preparation
- Adult learning institutes
- Institutes of digital literacy
Non-academic institutions:
This group includes non-academic institutions or businesses that provide the real experience, hands-on education, or expertise, such as mind or cognitive training, skincare products, fashion design, cuisine, athletics, entertainment, transportation, reproduction activities, and so on.
Non-academic institutions include the following:
- Cooking classes
- Styling courses for pets
- Driving courses
- Schools for hairdressing
- Courses or workshops for fashion design
- schools for athletics.
Required documents to register an educational business in Singapore
The particular licenses needed to depend on the sort of academic establishment you wish to create. The table below summarises the different registrations, licenses, and permits required for various types of educational institutions. Any private institution or place that focuses on teaching ten or more individuals must file with either the Education Department or the Commission for Private School education, depending on the type of schooling establishment. When private schools register with the MOE and CPE, they are permitted to operate once they have completed all of the legal requirements.
| Type of Registration | Childcare center | Pre-school | Academic School | Non-Academic School |
|---|---|---|---|---|
| Business | Required | Required | Required | Required |
| Ministry of Education | Required | Required | Required for certain types of academic schools | Not required |
| Council of Private Education | Not required | Not required | Required for certain types of academic schools | Not required |
| Childcare Centre | Required | If applicable | NA | NA |
| Canteen | If applicable | If applicable | If applicable | If applicable |
| Placing TV sets in the premises | If applicable | If applicable | If applicable | If applicable |
| Publishing on magazine (education/school) | If applicable | If applicable | If applicable | If applicable |
| Educational Materials | If applicable | If applicable | If applicable | If applicable |
| Advertising the establishment | If applicable | If applicable | If applicable | If applicable |
| Edu Trust Certification | Recommended | Recommended | Recommended | Recommended |
| Singapore Quality Class | NA | NA | Recommended | NA |
Procedure to setup private school in Singapore
Below you will find the step-by-step procedure to set up a private school in Singapore:
Research about the private school industry in Singapore:
Explore a few academic institutions and do an initial price assessment to analyze the profitability of your business, if you’ve decided to open a private educational institution. Examine the industry to see if your targeted audience has a reasonable number of pupils engaged. Consider lease possibilities and operational expenses in each conceivable locale. Determine the number of workers you’ll need and start researching their availability and monthly income.
After you’re satisfied with your core business estimates, go to the next stage. The approach outlined below is for establishing an educational private school, which is the most thorough option. Establishing a non-academic institution is easier since it does not involve any license from the Education Department of the Ministry, the formation of a management board, or other similar procedures.
Finish the procedures for pre-registration:
- Pick a name for your school: A school name must designate an educational environment. The suggested name should represent the school’s syllabus and the kind of programs it will provide. If the school is founded as an ownership or associate firm with the Accounting & Operational Regulating Body, the name of the institution and the accompanying company should be the same. The terms “Singapore” and “National” imply control and ties to the administration. Due to this, such titles should not be granted to private universities.
- Be aware of curricular limitations: There are several limitations to the kind of program that a private school can use. Educational institutions do not have the necessary permits to operate as comprehensive alternative primary schools for secondary schools. A university education demands enormous resources that private institutions cannot provide. Due to this private schools are not considered equivalent to institutions and are not authorized to function as institutions of higher learning. Therefore, private schools cannot include the term “university” in their intended school names.
- Recruit Teachers: Every private school must have a minimum of two teachers. Every instructor’s application for authorization to teach in the applicable school must establish that the instructor has the necessary academic credentials and appropriate employment and instructional experience necessary by the school. When requesting certification, the manager must indicate the units, classes, or topics that the instructor will be teaching, as well as their grades.
- Obtain facilities: While choosing and settling on a location for the institution, be cautious. When you make a final decision to buy or rent a property, make sure that the planning authorities have issued Formal Approval and that any modifications or repairs intended for the main campus are likely to be approved or authorized by the appropriate authorities. Private educational institutions should have appropriate and adequate facilities. In contrast to rooms, they should feature a desk, an administrative space, a facility area for students or clients, and so on.
Enroll your educational establishment:
Once you’ve completed the groundwork, you should register your institution with the Singapore Accounting and Corporate Regulatory Authority Body. A privately-owned company is the most appropriate legal structure.
Apply for the Ministry of Education license
Apply for the Ministry of Education license and prepare all the necessary application forms for the Board of Administration, Course Registration, and Instructor Registration, as well as approvals from the relevant people and other documentation as required.
The required paperwork to be sent to the Ministry of Education after completing your online form is listed below.
- The Fire Safety and Shelter Department has authorized the design layout.
- Diploma of Fire Safety
- The Urban Redevelopment Authority has granted a written consent.
- ACRA’s most recent BIZFILE publication
- Documents for the Management Board
- Members’ Motion or Nomination Letter to nominate panel members of Administration
- Application for Training Sessions
- Course Report
- Registration paperwork for teachers
- Constitution of the School
- Private Owned Company and Memorandum of Incorporation
Clear the school evaluation:
The government official will organize a classroom evaluation after all of the provided paperwork is determined to be in line.
Get your certificates:
The government normally processes an application form with all essential documentation within 2 weeks of receiving it. Disruptions in execution are caused by inaccurate and unreliable entries. Whenever your registration has been authorized and all other correct precautions have been performed, you will get the Certificate Of education issued, room availability accreditations, and all other relevant papers. Since the University Registered Patent has no expiry date, it does not need to be maintained. If branches or a fresh facility is to be opened, a new application is needed. Your school can make its debut after receiving the School Registration!
Regulatory Requirements For Educational Institution In Singapore
Due to the obvious type of service, they offer, several academic institutions are subject to special restrictions.
- Institutions that provide full-time preparation for the Education sector regular classroom admission or placement tests, as well as international assessments.
- Special education institutions with private donations.
- Institutions that provide instruction resulting in a degree or certificate, as well as full-time post-secondary training culminating in certification.
- International System Institutions provide full-time education in public schools based on a global or international system in whole or in part.
The approach for establishing pre-schools varies significantly as well. The Licensing platform is used to file requirements for new childcare facilities and preschools. These institutions must be licensed by the Early Childhood development authority. Such organizations may have specific requirements for their operations that must be authorized by the ECDA, among other things.
Government Initiatives For Educational Institution In Singapore
Singapore firms benefit from the development of aggregate economy packages and tax benefits meant to improve brought about by the economy and propel the nation toward a flourishing start-up ecosystem. Some of these programs were designed to help different industrial sectors, such as schooling. One such reward is the Venture ForGood award.
The VFG is a funding program operated by the Singapore Centre for Social Enterprise with the goal of assisting young enterprises at various stages of growth. Funds of up to S$300,000 are accessible for new and existing young enterprises that are launching or expanding their operations. The program is open to organizations that provide solutions in the domains of education, skills enhancement, basic human needs, economic goods and alternatives, and healthcare or social services. The raised fund is open to all new and creative household young enterprises who are formed or want to register under the Companies Act. At the time of funding payment, the firm should be formed and recognized as a raiSE participant.
Accreditations For Educational Institution In Singapore
To build confidence and authority with your potential pupils, you need to seek authorization after your institution is up and running.
- Quality Class accreditation in Singapore: It improves public impressions of your institution and speeds up the processing of undergraduate visa applicants filed by SQC-certified academic institutions.
- Accreditation by EduTrust: It is required for overseas students to register. The EduTrust Support Scheme may provide federal aid to privately owned education institutes and institutions seeking EduTrust accreditation. This initiative allows all qualified educational institutions to receive money of up to S$26,500 to enhance their capacity.
Conclusion
Given the nation’s strong emphasis on education and its welcoming economic environment, setting up an education business in Singapore may be an attractive endeavor. However, in order to establish an education firm in Singapore, you must fulfill a number of requirements and secure specific permits. If all the requirements have been fulfilled, you can apply to set up an education business in Singapore and obtain the relevant permissions more quickly.
With years of experience, the specialists at Odint Consultancy can help you in setting up an education business in Singapore and aid you in obtaining the appropriate licenses.
FAQ’s
In Singapore, elementary school lasts six years, accompanied by a secondary school for four to six years and higher education for one to three years. The primary schooling system is the same for all learners in grades.
Though institutions are expected to generate funds for capital spending such as constructing or significant infrastructure, the education system in Singapore is virtually exclusively funded by the government through government coffers.
Singapore has more affordable educational options.There are several outstanding educational institutions in Singapore, many of which are internationally renowned. Given the nation’s strong emphasis on education and its welcoming economic environment, setting up an education business in Singapore may be an attractive endeavour.
The Singapore Centre for Social Enterprises has a funding programme called Venture ForGood that helps social enterprises get started or grow by providing incentives of up to S$300,000. Businesses that provide services in the fields of education, skill development, etc. are eligible for the programme.
