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A new Singapore company can start trading fast, but each shipment needs a Customs permit. The route is: get a UEN from ACRA, activate your Customs Account, then file permits on TradeNet, through a Declaring Agent or by registering as one. Checked .
SingaporeCompanySetupGuide.com is an independent guide. It is not Singapore Customs, ACRA or IRAS. Providers may pay us when a request from our forms becomes a job. The Customs page read for this guide gives no fees, so none are quoted for permits.
What are the steps for a new trader?
- Get a UEN by registering the business with ACRA. See company registration.
- Activate the Customs Account.
- Pick your filing route (see the table below).
- Arrange an inter-bank GIRO so duties, taxes and fees can be paid.
- Provide a security if Customs requires one for your goods.
- Before the cargo lands, submit a Customs Import Permit on TradeNet, using approved software or the Government Front-End Application.
Which route should you pick, agent or self-filing?
| Route | What it means | Suits |
|---|---|---|
| Appoint a Declaring Agent | A registered entity files your permits | Low volume, first shipments |
| Register as a Declaring Agent | You get your own TradeNet user ID and file yourself | Steady volume, in-house trade staff |
Importers, exporters and forwarders all appear on Customs' list of registrants. Filing for other companies is a different business, covered on logistics and freight.
What does GST mean for imports?
IRAS sets GST rules. You register for GST if annual taxable turnover is over S$1 million at the end of a calendar year, or is expected to exceed it in the next 12 months. Voluntary registrants stay registered for at least 2 years. The Customs page read here says nothing about import GST rates, so check the IRAS pages for your goods. See GST registration.
Do any goods need extra approval?
Some do. Strategic goods, meaning arms, military items and dual-use products, are covered by an Act that has applied since . Exporting them needs a permit, and so does moving them through the country. Customs also expects registration for brokers. Other goods answer to other agencies, and we did not verify those lists. Check your product before you place an order.
Which structure suits a trading business?
A private limited company limits what you owe if a buyer or supplier fails. It also looks stronger to banks and suppliers. A sole proprietor can trade too, and Customs lists individuals trading under their own name, but you carry every debt. Read trading company for the structure and bank account angle, and e-commerce company if you sell online.
What does it cost to set up?
| Item | Body | Amount |
|---|---|---|
| Name application | ACRA | S$15 |
| Company registration | ACRA | S$300 |
| Customs Account, TradeNet user ID | Singapore Customs | Not published on the page read |
| Permit fees and security | Singapore Customs | Not published on the page read |
Stock, freight, insurance, warehouse and duty depend on your goods. We quote no figure because no official page read gives one.
Can a foreigner own the company?
Yes, if a corporate service provider registers it and a locally resident director is appointed. Living and working here is a separate question that needs its own pass. Read register a company as a foreigner and business bank account.
Which SSIC code fits?
The code is picked on Bizfile. None of the official pages read here names one for import or export, so we quote none. The finder and the 14 day change rule are on SSIC code. A wholesale or trading code that matches your goods is usually the right idea, but confirm the wording on ACRA's list.
Where does a provider help?
A provider can set up the company, supply the address and open the bank file, so the UEN is ready before you activate the Customs Account. Filing and goods checks stay with you or your agent. Use the quote form and we forward your request to suitable providers.
Sources
- Singapore Customs, customs registration overview: https://www.customs.gov.sg/doing-business/getting-started/customs-registration-overview/ (UEN, Customs Account, Declaring Agent, GIRO, security)
- Singapore Customs, obtain a Customs import permit: https://www.customs.gov.sg/doing-business/import-operations/import-procedures/obtain-a-customs-import-permit/ (TradeNet permit)
- Singapore Customs, strategic goods control: https://www.customs.gov.sg/permits-and-licences/trade-controls-and-prohibitions/strategic-goods-control/strategic-goods-control-overview/
- IRAS, do I need to register for GST: https://www.iras.gov.sg/taxes/goods-services-tax-(gst)/gst-registration-deregistration/do-i-need-to-register-for-gst (S$1 million, 2 year rule)
