Overview: Import-Export Company In Singapore
Looking to tap into global trade opportunities from one of the world’s most efficient and business-friendly countries? Setting up an import-export business in Singapore could be your smartest move in 2025.
Strategically placed at the intersection of important international shipping routes, Singapore offers entrepreneurs unrivalled access to Asian, Middle Eastern, and global markets. With its world-class ports, transparent customs system, tax-friendly policies, and over 200 free trade agreements, the city-state makes international trading smoother, faster, and more profitable.
Whether you’re an Indian entrepreneur exporting goods to Southeast Asia or a global trader aiming to simplify logistics and reduce costs, Singapore provides the perfect platform to scale.
In this guide, we’ll walk you through every step — from company registration in Singapore to licenses, warehousing, and government support — to help you build a thriving import-export business in Singapore.
Why Singapore Is A Major Trading Hub?
Singapore has earned its status as a worldwide trading powerhouse, and it’s easy to see why. If you’re setting up an import-export business in Singapore, here’s what makes it the best launchpad in Asia:
- Strategic Location: Sitting on one of the busiest shipping lanes in the world, Singapore handles over 30% of Asia’s trade, facilitating goods worth over $5 trillion annually between East and West.
- World-Class Infrastructure: Recognized as one of the world’s top cities for port efficiency, logistics, and air cargo connectivity.
- Business-Friendly Policies: Ranked #2 globally in ease of doing business, Singapore makes company registration, licensing, and cross-border trade incredibly efficient.
- Attractive Tax Regime: Low corporate tax (17%), zero capital gains tax, and over 70 Double Taxation Avoidance Agreements (DTAAs) make international trade seamless and cost-effective.
- Strong Financial Backbone: Home to over 500 international financial institutions, Singapore provides robust access to capital markets and trade finance, essential for global trading firms.
- Low Corruption, High Compliance: Ranked among the least corrupt nations globally, Singapore ensures transparent legal enforcement and contract protection.
Requirements for Setting Up an Import-Export Business in Singapore
Before you can begin trading internationally, you must first register your business in Singapore. The Accounting and Corporate Regulatory Authority (ACRA) is the government body responsible for company incorporation and regulation.
Setting up an import-export company is straightforward, and the most preferred structure is a Private Limited Company due to its scalability, tax benefits, and credibility.
Key Requirements to Start an Import-Export Company in Singapore:
- Minimum Paid-Up Capital: Just SGD 1 to start (can be increased later).
- Shareholders: Between 1 to 50 shareholders (individuals or corporate entities).
- Resident Director: A minimum of one director has to be a Singaporean citizen, permanent resident, or an EntrePass holder.
- Company Secretary: Appointment of a Singapore-based company secretary within 6 months.
- Registered Office Address: A local Singapore address is needed.
- Company Name Approval: The proposed name needs to be approved by ACRA prior to incorporation.
- Unique Entity Number (UEN): The UEN number is issued post-registration; required for all interactions with government agencies, including Singapore Customs.
For foreign entrepreneurs, working with a local incorporation expert like OnDemand International ensures compliance, faster setup, and seamless handling of all regulatory processes.
What Can You Import or Export from Singapore?
Popular Export Goods:
- Electronics & semiconductors
- Machinery & transport equipment
- Pharmaceuticals
- Petroleum products
Popular Import Goods:
- Consumer electronics
- Automobiles
- Packaged food & beverages
- Clothing & textiles
Import Regulations & Procedures in Singapore
Importing goods into Singapore involves:
- Declaring goods via TradeNet (permit required before shipment)
- Presenting required documentation:
- Commercial Invoice
- Packing List
- Bill of Lading or Airway Bill
- Certificate of Origin (if claiming FTA benefit)
- Paying relevant customs duty or GST
- Clearance at the port or airport
Export Regulations & Procedures in Singapore
For exporting goods:
- Apply for an OUT permit via TradeNet
- Check if your goods are controlled or strategic
Prepare:
- Commercial Invoice
- Export Packing List
- Certificate of Origin (if applicable)
- Use a freight forwarder or manage logistics independently
Note: You must keep trade documents for 5 years as per Singapore Customs regulations.
Transshipment & Re-Export Business in Singapore
Singapore is ideal for transshipment — importing goods to repackage and export to another country.
Why it’s powerful:
- No import GST/duty on goods in free trade zones in Singapore
- Flexible warehousing & bonded logistics
- Major link between India ↔ Middle East ↔ APAC
Storage & Warehousing Options
As your trading volume grows, consider warehousing to store or consolidate goods.
Type | Description |
Public Warehouse | Pay-per-use, suitable for new businesses |
Bonded Warehouse | Store dutiable goods without paying taxes until released |
Free Trade Zone (FTZ) | Import/export with duty/GST exemption |
Major warehouse locations:
- Jurong Port FTZ
- Changi Free Trade Zone
- Keppel Distripark
GST and Import Duties in Singapore
When importing goods into Singapore, you’ll need to pay Goods and Services Tax (GST) and, in some cases, import duties.
GST on Imports
As of 2025, Singapore applies a 9% GST on imported goods meant for local consumption.
GST is determined based on the shipment’s CIF value (Cost, Insurance, and Freight).
Singapore Customs collects this tax, which is managed by Singapore’s Inland Revenue Authority (IRAS).
Import Duties
While most goods are duty-free, some categories are dutiable, including:
- Alcohol and liquor
- Tobacco products
- Motor vehicles
- Petroleum products
Duty rates vary based on product type and quantity.
Transit & Export Shipments
If you’re exporting goods or using Singapore as a transit hub, no GST or duties are applied.
Payment Method
The recommended payment mode is GIRO (General Interbank Recurring Order).
GIRO allows seamless deduction from your business bank account for faster customs clearance.
Want to register for GST in Singapore? Read our guide on Singapore GST Registration
Financial Considerations
Financial Bank Account in Singapore
One of the most important parts of any Singapore commerce business is to register a business account with a bank branch. This will assure prompt payment, trade-related usage of A-one financial products, and safekeeping of your money. Businesses have various alternatives for opening accounts due to the vast number of financial institutions. Our company, OnDemand InternatioonL suggests to you a list of reputable financial institutions where you may easily create an account, including, OCBC Bank, DBS Bank, Standard Chartered, UOB, HSBC, and Citibank.
Loans for Small Businesses
Business loans are available from the majority of Singapore’s banking firms. The most common types of corporate loans are as follows:
- SME Micro Loan – A government-backed funding program for small businesses in the area. Businesses with an annual turnover of less than $1 million and fewer than 10 workers are eligible for up to $100K in financing.
- Term loan for a business that is not guaranteed. A hefty payment normally ranges from $50,000 to $300,000. Payments are made in equal monthly installments over 3 to 5 years.
Global Trader Program
The GTP (Global Trader Program) is indeed a very appealing solution for your firm to reduce its tax liability. For 3 – 5 years, the GTP offers a lowered company tax percentage of 5% or 10% on eligible trading wages. Physical trading revenue, actual trade brokerage income, & commodity derivatives income are all examples of acceptable trading income.
Trade Credit Insurance Scheme (TCIS)
Trade Credit Insurance (TCI) is a form of insurance that any business can acquire to safeguard itself from purchaser non-payment, allowing you to attract new clients with more confidence and lower risk of default. Assuming your business qualifies, the state may cover up to 50% of the minimal insurance costs for TCI plans offered professionally by Singapore-registered trade underwriters. This is limited to a limit of S$100,000 in lifetime assistance per firm.
Letter of Credit
Letters of Credit (LC) are widely used in Singapore. It is a banking industry in which a purchaser’s bank ensures that a purchaser’s payment to a vendor will arrive on schedule and in full. The financial institution will be supposed to subsidize the full or leftover cost of the transaction if the purchaser fails to pay the balance. It removes the vendor’s risk of non–a payment on supply and the purchaser’s risk of non–delivery versus payment.
Assuming your business meets the following criteria, it is eligible if it/the:
- Has a huge team of 200 workers and a total turnover of S$100 million.
- Business is established and based in Singapore, i.e. constituted with the ACRA
- Have at least 30% indigenous ownership
Conclusion
Setting up an import-export business in Singapore isn’t just a smart move—it’s a strategic gateway to global trade success.
With its streamlined regulatory processes, low taxation, efficient ports, strong financial ecosystem, and global trade agreements, Singapore gives you everything you need to run a competitive, cross-border trading business. Whether you’re exporting goods to the Middle East, importing materials from India, or leveraging Singapore as a transshipment hub, the city-state makes trade faster, cheaper, and safer.
At OnDemand International, we specialize in helping entrepreneurs like you build fully compliant, profitable, and globally connected trading companies in Singapore.
Get in touch with us today to launch your import-export business in Singapore with confidence, clarity, and full legal compliance.
FAQ’s
The major reasons why Singapore is best for the transport of goods is because it is in a good location, has the least corruption, and the tax system there is attractive too.
Generate a customs account, become a registered declaring agent, check if your products are considered controlled or prohibited, furnish security, issue a customs approval, and hand over cargo clearance documents.
If all the necessary needs are met, the corporation will only be eligible if it has a percentage of 30% internal shareholding, a team of 200 workers, and yearly revenue of at least S$100 M.
It is a loan-providing program, backed by the government of Singapore for small enterprises in the region. Companies that have yearly revenue of $1 M or less and employees less than 10 can take up this loan and get $100K.
Yes, there are two kinds of loans for small enterprises, SME micro loans, and Term loans.
