Doing Business with Singapore

Exporting goods to Singapore involves several key steps. Here’s a detailed guide:

1. Research Market Requirements

   • Understand Singapore’s import regulations and product standards.

2. Identify Your Product’s HS Code

   • Determine the Harmonized System (HS) code for tariff and regulation details.

3. Prepare Documentation

   • Gather necessary export documents: commercial invoice, packing list, certificate of origin, and bill of lading.

4. Check Tariff and Non-Tariff Barriers

   • Verify any tariffs and ensure compliance with non-tariff measures.

5. Select a Reliable Freight Forwarder

   • Choose a logistics provider experienced in shipping to Singapore.

6. Comply with Labeling and Packaging Regulations

   • Ensure your products meet local labeling and packaging standards.

7. Arrange for Insurance

   • Secure insurance to cover potential shipping risks.

8. Submit Customs Declaration

   • Work with your freight forwarder to submit the necessary customs declaration through Singapore Customs.

9. Track and Confirm Delivery

   • Monitor the shipment to ensure it reaches the destination safely.

Key Contacts

• Singapore Customs
  • Website: Singapore Customs
• Enterprise Singapore
  • Website: Enterprise Singapore

Importing goods into Singapore involves several key steps. Here’s a detailed guide:

1. Register for UEN and Activate Customs Account

   • Obtain a Unique Entity Number (UEN) and activate your customs account with Singapore Customs.

2. Classify Your Goods

   • Determine the Harmonized System (HS) code for your products to understand tariffs and duties.

3. Apply for Import Licenses

   • Check if your goods require specific import licenses or permits from relevant authorities.

4. Prepare Documentation

   • Gather necessary documents: invoice, bill of lading, packing list, and certificate of origin.

5. Hire a Declaring Agent

   • Engage a licensed declaring agent to submit import declarations on your behalf.

6. Submit Import Declaration

   • File the import declaration through the TradeNet system before the goods arrive.

7. Pay Duties and GST

   • Calculate and pay any applicable import duties and Goods and Services Tax (GST).

8. Arrange for Cargo Clearance

   • Ensure your freight forwarder coordinates the clearance and delivery of goods.

Key Contacts

• Singapore Customs
  • Website: Singapore Customs
• Enterprise Singapore
  • Website: Enterprise Singapore

Incorporating a company in Singapore involves several key steps. Here’s a detailed guide:

1. Choose a Business Structure

   • Decide on the type of company, such as a Private Limited Company (Pte Ltd).

2. Register a Company Name

   • Use the Accounting and Corporate Regulatory Authority (ACRA) system to check availability and reserve your company name.

3. Prepare Incorporation Documents

   • Prepare necessary documents, including the company’s constitution, details of directors and shareholders, and registered address.

4. File with ACRA

   • Submit incorporation details through ACRA’s BizFile+ portal.

5. Pay Registration Fees

   • Pay the incorporation fee, which is typically around SGD 315.

6. Receive Certificate of Incorporation

   • Once approved, receive the official certificate of incorporation.

7. Open a Corporate Bank Account

   • Set up a bank account in the company’s name.

8. Register for GST (if applicable)

   • If your annual turnover exceeds SGD 1 million, register for the Goods and Services Tax.

Costs

• Incorporation Fee: Approximately SGD 315

Key Contacts

• Accounting and Corporate Regulatory Authority (ACRA)
  • Website: ACRA
• Enterprise Singapore
  • Website: Enterprise Singapore

Setting up a manufacturing plant in Singapore involves several key steps. Here’s a detailed guide:

1. Conduct a Feasibility Study

   • Assess market demand, location suitability, and resource availability.

2. Choose a Business Structure

   • Decide on the type of business entity, such as a Private Limited Company (Pte Ltd).

3. Register the Company

   • Register your business with the Accounting and Corporate Regulatory Authority (ACRA).

4. Secure Financing

   • Arrange funding through banks or investors.

5. Select a Location

   • Choose an industrial area with access to necessary infrastructure and resources.

6. Obtain Necessary Permits and Licenses

   • Apply for construction and operational permits from relevant authorities, such as the Building and Construction Authority (BCA).

7. Design and Construct the Facility

   • Hire architects and contractors to design and build the plant according to regulations.

8. Purchase and Install Equipment

   • Acquire machinery that meets safety and operational standards.

9. Hire and Train Employees

   • Recruit skilled workers and provide necessary training.

10. Set Up Supply Chain and Distribution

    • Establish relationships with suppliers and distributors.

Key Contacts

• Accounting and Corporate Regulatory Authority (ACRA)
  • Website: ACRA
• Enterprise Singapore
  • Website: Enterprise Singapore
• Building and Construction Authority (BCA)
  • Website: BCA

Registering a trademark in Singapore involves several key steps. Here’s a detailed guide:

1. Conduct a Trademark Search

   • Use the Intellectual Property Office of Singapore (IPOS) database to ensure your trademark is unique.

2. Prepare Your Application

   • Gather necessary details, including the trademark design and list of goods/services.

3. File the Application

   • Submit your application online through the IPOS e-services portal.

4. Pay the Application Fee

   • The fee is typically SGD 240 per class of goods/services.

5. Application Examination

   • IPOS examines the application for compliance and potential conflicts.

6. Publication for Opposition

   • If approved, the trademark is published in the Trade Marks Journal for 2 months for any oppositions.

7. Receive Registration Certificate

   • If no oppositions are filed, you receive the official trademark registration certificate.

Costs

• Application Fee: SGD 240 per class

Key Contacts

• Intellectual Property Office of Singapore (IPOS)
  • Website: IPOS

Resolving commercial disputes in Singapore involves several key steps. Here’s a detailed guide:

1. Consult Legal Counsel

   • Engage a lawyer experienced in Singaporean commercial law for advice.

2. Attempt Negotiation

   • Try to resolve the dispute amicably through direct negotiation with the other party.

3. Mediation

   • Use mediation services, such as the Singapore Mediation Centre, for a facilitated resolution.

4. Arbitration

   • Consider arbitration through the Singapore International Arbitration Centre (SIAC) for a binding decision.

5. Litigation

   • If necessary, file a lawsuit in the Singapore Courts. Prepare for a formal legal process.

6. Enforcement of Judgments

   • Ensure the decision is enforced through the relevant authorities.

Costs

• Legal Fees: Vary depending on the complexity and length of the dispute.
• Court Fees: Required for litigation and depend on the case specifics.
• Mediation/Arbitration Fees: Vary based on the service provider.

Key Contacts

• Singapore Mediation Centre
  • Website: Singapore Mediation Centre
• Singapore International Arbitration Centre (SIAC)
  • Website: SIAC
• Singapore Judiciary
  • Website: Singapore Courts

When considering business in Singapore, it’s important to understand various factors:

Social and Cultural Factors

• Language: English is the official business language; Mandarin, Malay, and Tamil are also widely spoken.
• Business Etiquette: Punctuality and professionalism are highly valued. Formal attire is common in business settings.

Political Factors

• Government: Stable parliamentary republic.
• Regulation: Singapore is known for its transparent and efficient regulatory framework.

Economic Factors

• Currency: Singapore Dollar (SGD).
• Key Industries: Finance, electronics, chemicals, and biomedical sciences.

Foreign Exchange

• Exchange Rate: The Singapore Dollar is stable, supported by strong economic fundamentals.

Rule of Law

• Legal System: Based on English common law; robust legal framework for business operations.
• Intellectual Property: Strong IP protection aligned with international standards.

Infrastructure

• Transport: World-class infrastructure with efficient ports and airports.
• Utilities: Reliable supply of electricity and water.

Key Contacts

• Enterprise Singapore
  • Website: Enterprise Singapore
• Singapore Economic Development Board (EDB)
  • Website: EDB
• Intellectual Property Office of Singapore (IPOS)
  • Website: IPOS