Choose your sector and how you might sell. See which licences, leases, work passes and permits stay with the business, which need an approval or consent, and which the buyer has to apply for again, with how long each takes. About two minutes. No email, and nothing you choose leaves this page.
Each item shows what happens in a share sale, an asset sale or both, how long it takes and what to do now. Items are ordered by how much work they need, and “Start these first” picks out the ones with the longest lead times.
| Label | What it means |
|---|---|
| Not allowed | The regulator or landlord does not permit it. This can decide whether the sale works at all. |
| New application | The licence does not move. The buyer applies for its own before taking over. |
| Approval first / Restricted | The regulator must approve the new owners or directors first, or limits who may own the business. |
| Consent needed / Transfer process | A landlord or other party must agree, or there is a formal process to move it to the buyer. |
| Check / Tell the regulator / Tell your staff | Read the document or confirm with the regulator, tell the regulator within a set time, or tell your employees. |
| Stays with the company | It carries on with nothing to do. |
Where a regulator publishes nothing on a point, such as what a change of shareholders alone triggers, the checker says so rather than guess. Confirm the position for your business with your lawyer before agreeing terms.
Most do not transfer to a new company. Food shop, liquor, massage, healthcare, employment agency, factory and Customs warehouse licences are tied to the company that holds them, so in an asset sale the buyer applies for its own. In a share sale the company, and so the licence, stays the same, though many regulators must be told about new directors, and some, such as MAS for financial advisers, must approve the new owners first.
Usually not. HDB has not permitted assignment of its shop and office tenancies since 16 October 2013, and it treats a substantial change in the tenant company’s shareholding as an assignment. Changes where the original shareholders or their next of kin keep at least 51%, transfers to next of kin, and transfers between holding and subsidiary companies are not treated as assignments. If your business runs from an HDB unit, raise this before you go to market.
A share sale usually keeps licences, leases, contracts and staff in place, because the company itself does not change. That is why regulated businesses are often sold as share sales. An asset sale lets the buyer leave liabilities behind, but each licence, lease and contract has to be moved or applied for again. Our guide to share sales and asset sales covers the trade-offs.
In a share sale the company stays the employer, so work passes carry on. In a sale of the business, MOM can move work pass holders to the buyer if both businesses are in the same sector, with normal levy and quota rules applied to the buyer. Request it 1.5 to 2 months ahead. The buyer’s quota depends on its own local staff.
Each item comes from the regulator’s own guidance, linked under it, and was checked in October 2026. Where a regulator publishes nothing on a point, the checker says so and tells you whom to ask. Rules change and every deal is different, so treat it as a list to take to your lawyer, not legal advice.
No. The checker runs in your browser and nothing you choose is sent to us or anyone else, unless you choose to email yourself the result or send it to Ben.
A licence that will not transfer, a lease with two years left or an HDB tenancy can change the price, the structure or whether a deal works at all. We check these at the start, quietly, and plan the handover so nothing stops the sale late. The first conversation is free and confidential.
Chat on WhatsApp →