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In Singapore a property agency is licensed by the Council for Estate Agencies (CEA). To get one you register a business with ACRA, qualify a Key Executive Officer (KEO), take out professional indemnity insurance and apply. CEA charges S$120 to apply, and annual licence fees start at S$330. Checked .
This is an independent guide. SingaporeCompanySetupGuide.com is not CEA or ACRA, and providers can pay us for referrals from our forms. We do not submit CEA applications.
What does CEA require from a new agency?
CEA's application page lists these conditions for a new estate agent:
- The business is registered with ACRA.
- It has a compliant Key Executive Officer.
- It does not hold a moneylender licence.
- Its owners and officers meet CEA's fit and proper standards, with no liquidation, fraud conviction or dishonesty judgment.
- It holds valid professional indemnity insurance.
- It has standard operating procedures in place.
Who can be your KEO?
The KEO runs the agency in CEA's eyes. CEA says the KEO must:
- Be the sole proprietor, a director or a partner.
- Hold at least 4 GCE O-Level passes or equivalent.
- Have passed the real estate agency exam within 2 years before the application.
- Have 3 or more years of estate agency experience, with 30 or more transactions in the past 3 years, or 3 or more years managing a licensed agency.
- Not hold a position at another licensed agency.
- Not have led an agency whose licence was revoked.
- Keep MediSave contributions current under the CPF Self-Employed Scheme.
If you do not meet these yourself, you need a director who does. That person has to be a real owner or director, not a hired manager.
How much does the licence cost?
All CEA fees below are exempt from GST.
| Item | Amount |
|---|---|
| Application fee | S$120 |
| Annual fee, 1 to 10 salespersons | S$330 |
| Annual fee, 11 to 30 salespersons | S$660 |
| Annual fee, 31 to 50 salespersons | S$1,100 |
| Annual fee, 51 to 500 salespersons | S$2,200 |
Larger agencies pay more in higher bands, and a general partnership adds S$280 for each practising partner. ACRA charges S$15 for the name and S$300 to register a company. See company registration.
How much insurance cover is needed?
CEA sets the minimum professional indemnity limit by the size of the agency. It starts at S$100,000 for a sole proprietor with one salesperson and reaches S$1 million for 500 or more salespersons. The maximum deductible runs from S$5,000 to S$20,000 across the bands. Get the policy quoted before you apply.
How long does it take, and how long does the licence last?
CEA says it takes about 2 to 3 weeks after it has all documents and payment. You must tell CEA within 7 working days if any registered information changes.
On renewal, CEA now uses a three-year cycle. For the exercise that ran from to , renewed licences run from to . The KEO renews their own salesperson registration in the same submission. If you start in the middle of a cycle, ask CEA how your first licence period works.
Which business structure suits an agency?
A private limited company separates your personal assets from the agency's contracts and staff costs. A sole proprietorship is cheaper to file, but you carry every liability. CEA accepts either, as long as the business is ACRA registered and has a KEO.
Who counts as a salesperson?
CEA registers real estate salespersons separately and links them to your agency. The agency pays the registration fees and application fees for its salespersons, according to CEA's fee rules. This guide does not quote the salesperson fee amounts, because the page read gives them only in a regulation PDF that we did not verify.
What are the staff costs?
Your salespersons are often self-employed, but any staff you hire bring CPF duties. See CPF for employers. Commission splits, office rent and marketing costs are your own numbers.
Which SSIC code should you choose?
ACRA asks for one when you register. The CEA and ACRA pages read here do not name a code for estate agencies, so none is quoted. Use the finder explained on the SSIC code page.
Where does a provider help?
A provider can register the company, supply the registered address and prepare the bank file, so the structure is ready when you apply to CEA. The licence application itself stays with your KEO. Send the quote form and we pass your request on to suitable providers.
Sources
- CEA, apply for an estate agent licence: https://www.cea.gov.sg/real-estate-professionals/for-estate-agents/apply-for-an-estate-agent-licence/ (eligibility, KEO rules, fees, insurance, timing)
- CEA, renewal of estate agent licence: https://www.cea.gov.sg/real-estate-professionals/for-estate-agents/renewal-of-estate-agent-licence/ (three-year validity, renewal dates)
- ACRA, registering a company: https://www.acra.gov.sg (name and registration fees)
