Secondhand Goods Dealer Licence Singapore: Requirements, Fees & How to Apply

What Singapore Pre-Owned Dealers Must Know in 2026

If you buy watches, jewellery, or electronics from the public and resell them, you need a Secondhand Goods Dealer's Licence from the Singapore Police Force. No exceptions. Operating without one exposes you to fines up to $20,000, imprisonment up to 12 months, or both.

This guide covers everything you need to get licensed: the three licence types, current fees, document requirements, the December 2025 GoBusiness migration, SHOTS transaction reporting, and the additional PSPM registration that jewellery and precious metals dealers must complete.

Here's what you'll find:

• Which goods require licensing (the Scheduled Goods list)
• Licence types, fees, and validity periods
• Step-by-step application process via GoBusiness
• Record-keeping and SHOTS system requirements
• PSPM Act obligations for precious stones and metals dealers
• Common mistakes that delay or reject applications

Who Needs a Secondhand Goods Dealer's Licence?

The Secondhand Goods Dealers Act 2007 covers anyone who buys secondhand goods from the public for resale. It doesn't matter if you operate from a physical shop, an online store, or both. If your business model involves acquiring pre-owned items to sell at a profit, you're a dealer.

The law targets goods commonly involved in theft. Watches and jewellery sit squarely in this category. Every pre-owned watch dealer in Singapore must be licensed or registered as exempted.

Business Type	Licence Required?	Notes
Pre-owned watch dealer	Yes	Watches are scheduled goods
Vintage jewellery shop	Yes	Jewellery with precious stones/metals is scheduled
Online watch reseller (Carousell, etc.)	Yes	Online dealing requires licensing
Used electronics trader	Yes	Phones, laptops, cameras are scheduled
Consignment-only dealer	Yes	Facilitating sale of scheduled goods requires licence
Pawnbroker	No	Covered under Pawnbrokers Act instead
Individual selling personal items	No	One-off sales not considered dealing

The Scheduled Goods List

The Act specifies exactly which goods fall under its scope. These are items commonly targeted by thieves and frequently appearing in the secondhand market. If you deal in any of these, you need a licence.

Category	Scheduled Goods
Timepieces	Watches (all types)
Jewellery (with stones)	Jewellery set with diamonds, jade, rubies, sapphires, emeralds, and other precious stones
Jewellery (metals only)	Jewellery made from platinum, gold, white gold without precious stones
Photography	Cameras, lenses, video-graphic and photographic equipment
Computing	Computers, laptops, tablets, PDAs, and accessories
Mobile Devices	Handphones, smartphones, PDA phones
Audio Equipment	CD players, MP3 players, MP4 players
Financial Instruments	Pawn tickets
Metals	Copper cables and wires; items and scrap made of copper, stainless steel, aluminium, steel, or brass

Licence Types, Fees, and Validity

The Singapore Police Force offers three licensing options depending on your business type and duration. Most established watch dealers will need an Ordinary Licence. The Exempted Notification status may apply if you meet specific criteria around character and business conduct.

Licence Type	Fee	Validity	Best For
Ordinary Licence (1 year)	$165	12 months	New dealers, testing the business
Ordinary Licence (2 years)	$280	24 months	Established dealers (better value)
Temporary Licence	$40	30 days	Pop-ups, roadshows, bazaars
Exempted Notification	No fee	Ongoing (while business operates)	Dealers assessed as "fit and proper"
Replacement Copy	$11	N/A	Lost or damaged licence document

Which Licence Type Should You Choose?

For most watch and jewellery dealers, the 2-year Ordinary Licence offers the best value at $280 versus $330 for two consecutive 1-year licences. If you're unsure whether the business will succeed, start with a 1-year licence and upgrade at renewal.

The Exempted Notification is granted at SPF's discretion. You can't directly apply for it. The Police Regulatory Department assesses your honesty, integrity, reputation, competence, and capability. If they deem you "fit and proper", they'll offer exemption instead of requiring a paid licence.

December 2025 GoBusiness Migration: What Changed

From 1 December 2025, all SHGD licence applications must go through the GoBusiness portal. This is a significant change that affects new applications, renewals, and amendments. The old FormSG system is no longer accepted.

Aspect	Before Dec 2025	From Dec 2025
Application Portal	FormSG	GoBusiness only
Payment Method	Bank transfer accepted	GoBusiness payment only
Replacement Copies	Email request	Via GoBusiness portal
Status Tracking	Email notifications	GoBusiness dashboard + SMS/Email

GoBusiness Portal Access

Access the application at: dashboard.gobusiness.gov.sg

You'll need Singpass to log in. The system links to your ACRA business registration, so ensure your business details are current before starting an application.

Eligibility Requirements

Not everyone can apply for a licence. SPF requires applicants to hold specific positions in ACRA-registered businesses. Employees without ownership or directorship cannot apply on behalf of a company.

Business Type	Eligible Applicant Roles
Sole Proprietorship	Sole Proprietor
Partnership	Partner
Limited Liability Partnership (LLP)	Partner cum Manager
Private Limited Company	Managing Director, Director, or CEO

Location Requirements

A separate licence is required for each location where you deal in secondhand goods. This includes:

• Each physical retail outlet
• Each website or online platform URL
• Each point of dealing (e.g., different market stalls)

If you operate from Far East Plaza and also sell through your own website, you need two licences.

Documents Required for Application

Prepare these documents before starting your GoBusiness application. Incomplete submissions get rejected, adding weeks to your timeline.

Document	Purpose	Notes
ACRA Business Profile	Verify business registration	Must be current; purchase via BizFile+
Applicant's NRIC	Identity verification	Front and back copies
Passport (if foreigner)	Identity verification	Bio-data page
Tenancy Agreement	Prove business premises	For physical retail locations
Website URL	For online dealing locations	Each URL needs separate licence
Business Operations Description	Explain your dealing activities	What goods, how acquired, how sold

Step-by-Step Application Process

Here's how to apply via the GoBusiness portal. The process takes approximately 3 weeks if your submission is complete and accurate.

Step	Action	Details
1	Access GoBusiness	Go to dashboard.gobusiness.gov.sg
2	Log in with Singpass	Use your personal Singpass linked to your ACRA role
3	Search for licence	Find "Secondhand Goods Dealers Licence" under SPF
4	Complete application form	Business details, dealing locations, goods types
5	Upload documents	All required supporting documents
6	Pay licence fee	Via GoBusiness payment (credit/debit card)
7	Submit application	Receive confirmation and reference number
8	Wait for assessment	SPF reviews application (~3 weeks)
9	Receive outcome	Via SMS and/or email notification

Processing Timeline

Scenario	Expected Duration
Complete application, no issues	~3 weeks
Missing documents (resubmission required)	+2-3 weeks per resubmission
Additional verification needed	+1-4 weeks

SHOTS: Transaction Records You Must Submit

Getting licensed is only the first step. Every licensed and exempted dealer must submit transaction records to the Secondhand Goods Transaction Records System (SHOTS). This is how SPF tracks stolen goods and investigates theft.

What SHOTS Requires

Requirement	Details
Purchase Records	Date, item details, seller name and address
Customer Particulars	NRIC/Passport details of all sellers
Serial Number Screening	Check items with serial numbers before purchase
Submission Frequency	As required by Licensing Officer (typically within days)

The Serial Number Check Process

Before purchasing any item with a serial number, you must screen it in SHOTS. This includes watches with case back serial numbers, electronics with IMEI numbers, and cameras with body serial numbers.

SHOTS Result	What It Means	Your Action
No record found	Item not reported stolen	Proceed with purchase, record transaction
RECORD FOUND	Item flagged (possibly stolen)	DO NOT purchase; make police report with seller details

Record Retention Requirements

You must retain all transaction records for a minimum of 5 years from the end of the financial year in which the transaction occurred. This applies to both purchase and sale records. SPF can request these records at any time for investigation purposes.

PSPM Act: Additional Requirements for Precious Goods Dealers

If you deal in watches with precious metal cases, jewellery with precious stones, or gold/platinum items, you face additional obligations under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019.

This is separate from the SHGD licence. You need both.

Who Must Register Under PSPM

Goods Type	PSPM Registration Required?
Steel/titanium watches only	No
Gold/platinum/white gold watches	Yes
Watches with diamond bezels/dials	Yes
Jewellery with diamonds, rubies, sapphires, emeralds, jade	Yes
Plain gold/platinum jewellery	Yes
Silver jewellery only	Depends on alloy content

PSPM Registration Fees

Fee Type	Amount	Notes
Application Fee	$140	Non-refundable, per application
Registration Fee	$300/outlet/year	Per place of business annually
Class 1 (1 year)	$140 + $300	Total: $440/outlet
Class 2 (2 years)	$140 + $600	Total: $740/outlet
Class 3 (3 years)	$140 + $900	Total: $1,040/outlet

PSPM Compliance Obligations

Registered PSPM dealers must implement anti-money laundering controls. These are significant operational requirements beyond simple record-keeping.

Obligation	What It Involves
Customer Due Diligence (CDD)	Verify customer identity, understand source of funds for large transactions
Cash Transaction Reports (CTR)	Report cash transactions exceeding $20,000
Suspicious Transaction Reports (STR)	Report transactions that appear suspicious regardless of amount
Record Keeping	Maintain CDD records and transaction details for 5 years minimum
Internal Controls	Documented AML/CFT policies and procedures

Penalties for Non-Compliance

Operating without proper licensing or failing to meet record-keeping requirements carries serious consequences. SPF actively enforces these regulations.

Offence	Maximum Penalty
Dealing without SHGD licence	Fine up to $20,000 and/or imprisonment up to 12 months
Failure to submit SHOTS records	Fine up to $20,000 and/or imprisonment up to 12 months
Failure to screen serial numbers	Fine up to $20,000 and/or imprisonment up to 12 months
Purchasing flagged item after SHOTS warning	Fine up to $20,000 and/or imprisonment up to 12 months
Acting as PSPM dealer without registration	Fine up to $75,000 and/or imprisonment up to 3 years
PSPM AML/CFT compliance failures	Fine up to $100,000

Total Licensing Cost for Watch Dealers

Here's what a typical pre-owned watch dealer in Singapore actually pays for full compliance, assuming you deal in some precious metal watches.

Licence/Registration	Annual Cost (1 outlet)	Notes
SHGD Licence (2-year)	$140/year	$280 for 2 years
PSPM Registration (Class 2)	$370/year	$740 for 2 years
Total (single outlet)	~$510/year	Both licences combined

For dealers operating only in steel/titanium watches without precious stones, the PSPM registration isn't required, reducing annual cost to approximately $140.

Common Application Mistakes

These errors cause rejections and delays. Avoid them to get licensed faster.

Mistake	Consequence	Prevention
Applying before ACRA registration	Automatic rejection	Register business with ACRA first
Wrong applicant role	Rejection; only owners/directors can apply	Verify your ACRA-registered role
Incomplete documents	Application returned, restart timeline	Use the checklist, verify before submitting
Not listing all dealing locations	Operating unlicensed at omitted locations	Include every physical and online location
Signing lease before licence approval	Financial loss if licence rejected	Get approval first; SPF warns against sunk costs
Using old FormSG portal	Application not accepted (from Dec 2025)	Use GoBusiness portal only
Forgetting PSPM registration	Illegal to deal in precious goods	Apply for both if dealing precious metals/stones

Renewal Process

Licences must be renewed before expiry. The process mirrors the initial application but is typically faster since SPF already has your records on file.

Renewal Aspect	Details
When to Apply	At least 4 weeks before expiry
Portal	GoBusiness (same as new application)
Fee	Same as new licence ($165/1yr or $280/2yr)
Documents	Updated ACRA profile, any changed tenancy details
Late Renewal	Licence lapses; cannot legally operate until renewed

After Licensing: Protecting Your Inventory

Licensing gets you legal. But it doesn't protect your business from the risks that come with handling high-value inventory. Pre-owned watch dealers face specific exposures that standard business insurance doesn't adequately cover.

Your record-keeping obligations under SHGD actually help here. Detailed inventory records, photos, serial numbers, and transaction documentation are exactly what insurers need to process claims efficiently. The same systems you build for compliance serve double duty for risk management.

Jewellers block insurance, specifically designed for dealers in watches and precious goods, covers theft (including employee theft), mysterious disappearance, transit losses, and damage while goods are in your care. If you're investing in compliance infrastructure, extending that to proper inventory protection makes operational sense.

Frequently Asked Questions

Can I start dealing while my application is being processed?

No. You must wait for licence approval before commencing operations. Dealing without a licence is an offence regardless of pending application status. Processing takes approximately 3 weeks for complete applications.

Do I need a licence if I only sell through Carousell or Facebook?

Yes. Online dealing in scheduled goods requires licensing. Each website or online platform you use is considered a separate dealing location and needs its own licence or to be listed under your main licence.

What if I only deal in steel watches, no gold or diamonds?

You still need the SHGD licence since watches are scheduled goods. However, you can skip the PSPM registration if you genuinely never deal in precious metals or stones. Be careful with this; a single gold Rolex Day-Date triggers PSPM requirements.

How do I check if an item is stolen before purchasing?

Use the SHOTS system to screen items with serial numbers. Log in via the SPF e-Services portal with your dealer credentials. If the system returns "RECORD FOUND", do not purchase the item and make a police report with the seller's details.

Can my employee apply for the licence on behalf of the company?

No. Only persons registered with ACRA as owners, partners, directors, or CEO can apply. If you need an employee to manage compliance, they can operate under your licence once issued, but the application must come from an eligible stakeholder.

What happens if I forget to renew my licence?

Your licence lapses and you cannot legally operate until renewal is processed. This means stopping all dealing activities. Continued operations constitute unlicensed dealing, which carries penalties up to $20,000 and/or 12 months imprisonment.

Do consignment-only dealers need a licence?

Yes. If you facilitate the sale of scheduled goods, even on consignment where you don't take ownership, you're considered a dealer under the Act. The licence covers the dealing activity, not just ownership of goods.

How long must I keep transaction records?

Minimum 5 years from the end of the financial year in which the transaction occurred. This applies to both SHGD requirements and PSPM obligations. SPF can request these records at any time for investigation purposes.

Is the PSPM registration separate from the SHGD licence?

Yes. These are two different regulatory regimes administered by different agencies. SHGD is under SPF; PSPM is under MinLaw's Anti-Money Laundering/Countering the Financing of Terrorism Division. You need both if you deal in precious metals or stones.

What's the total annual cost to be fully compliant?

For a single-outlet watch dealer handling some precious metal pieces: approximately $510/year ($140 for SHGD averaged over 2 years, plus $370 for PSPM averaged over 2 years). Steel-only dealers pay approximately $140/year for SHGD alone.

Application Checklist

Use this checklist before submitting your application to avoid delays.

Item	Status
Business registered with ACRA	☐
Applicant is owner/director/partner (ACRA-registered role)	☐
Current ACRA business profile obtained	☐
NRIC/Passport copies ready	☐
Tenancy agreement for physical location (if applicable)	☐
All dealing locations listed (physical + online)	☐
Business operations description prepared	☐
Singpass ready for GoBusiness login	☐
Payment method ready (credit/debit card for GoBusiness)	☐
Determined if PSPM registration also required	☐

Key Contacts

Agency	Purpose	Contact
SPF Police Regulatory Department	SHGD licence queries	SPF_PRD_SHGD@spf.gov.sg
GoBusiness Helpdesk	Portal technical support	(+65) 6336 3373 or AskGoBiz@crimsonlogic.com.sg
MinLaw ACD	PSPM registration queries	acd.mlaw.gov.sg
ACRA	Business registration	acra.gov.sg

Summary

Getting licensed as a secondhand goods dealer in Singapore involves navigating two regulatory frameworks if you handle precious metals or stones. The SHGD licence from SPF is mandatory for all dealers in watches and scheduled goods. PSPM registration from MinLaw adds anti-money laundering obligations for precious goods dealers.

The December 2025 migration to GoBusiness simplifies applications but requires adapting to the new portal. Budget approximately $510 annually for full compliance with both regimes, or $140 if you deal strictly in non-precious items.

Licensing is the foundation. Once compliant, the inventory records and security protocols you've established position you well for the next consideration: protecting that inventory against theft, damage, and loss with appropriate jewellers block coverage.