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A trading company in Singapore needs no special licence just to exist. You register a private company with ACRA, which costs S$315 (S$15 for the name, S$300 to register), and the company gets a UEN. To move goods across the border you then activate a Customs Account with Singapore Customs and file permits through TradeNet. Checked .
This site is an independent guide, not Singapore Customs, ACRA or IRAS. Requests sent through our form go to providers that may pay us a referral fee.
What does "trading company" mean here?
The phrase covers wholesale, import and export, re-export and sourcing for overseas buyers. In the search results for it, most hits are listed groups and big commodity houses, which tells you little about starting a small one. Singapore has no legal company type called a trading company. You choose the activity code when you register. ACRA asks for a five-digit SSIC code for the main activity and a second for any other. See SSIC code.
What steps register the company?
- Reserve the name with ACRA for S$15.
- Register the company for S$300.
- Appoint at least one locally resident director and a company secretary.
- Provide a Singapore registered office.
- Choose the SSIC code for wholesale, import or export.
Foreigners need a corporate service provider to register. The detail sits on register a company as a foreigner and company registration.
What do you need to import or export?
Singapore Customs publishes one order of steps for imports, and exports follow the same pattern.
| Step | What to do |
|---|---|
| 1 | Get a UEN from ACRA or another UEN issuance agency |
| 2 | Activate your Customs Account |
| 3 | Decide: appoint a declaring agent or register as one yourself |
| 4 | Submit the permit on TradeNet through approved software or the government front-end |
| 5 | Follow permit conditions and pay duty and GST where due |
You must activate the UEN with Singapore Customs before you can send permits electronically. TradeNet is the single window for import, export and transhipment permits. Smaller traders often appoint a declaring agent so they do not run their own TradeNet set-up. Agents set their own fees. Singapore Customs publishes no permit charge on the page read for this guide, so ask each agent for a written price.
Which goods need extra approval?
Controlled items need permits from the competent authority for that item, in addition to the customs permit. The Customs site has a TradeNet section on competent authority requirements for controlled items. This guide did not list them one by one. Check your product code against that section before you place an order with a supplier.
How does GST work for a trader?
On imports, GST is payable on non-dutiable goods, and GST plus duty on dutiable goods brought in for local consumption. Separately, your company must register for GST when annual taxable turnover goes above S$1 million. Many traders register earlier by choice to claim input tax, but this page has no IRAS source for that detail, so read GST registration and the IRAS guidance before deciding.
What other duties does the company have?
Corporate tax is a flat 17% of chargeable income, and a new company gets a start-up exemption for its first 3 years of assessment: 75% off the first S$100,000 and 50% off the next S$100,000. The annual return goes to ACRA within 7 months after the financial year end, at S$60. Keep accounting records for at least five years, which matters for a business with a paper trail of invoices and permits.
What does it cost to start?
Only the ACRA fees are verified here. The rest depends on the provider and agent you choose.
| Item | Amount | Who sets it |
|---|---|---|
| Name application | S$15 | ACRA |
| Registration | S$300 | ACRA |
| Annual return | S$60 | ACRA |
| Customs permit | Not published on the Customs page read | Declaring agent or Customs |
| Registered address, secretary, agent services | Quote | Provider |
Annual return fee applies each year, even to a company with no sales. See annual return.
Which structure suits a trader?
A private company is the usual choice because suppliers, banks and overseas buyers expect a registered entity with a UEN. A sole proprietorship can import too, since it also has a UEN, but the owner is personally liable for contract and stock disputes, which is a real risk in cross-border trade. See private limited company.
What mistakes do new traders make?
- Ordering stock before checking whether the goods are controlled items.
- Treating a quote from a declaring agent as the full cost, and forgetting duty and GST at the border.
- Using an SSIC code that does not match the activity. A change of main activity must be reported within 14 days.
- Skipping the bank step until the first supplier asks for an invoice account.
How will you pay suppliers and be paid?
A business bank account is a practical need for a trader. Banks decide on their own policy and ask about the owners, the goods and the countries involved. The official pages give no standard rule to quote, so read business bank account and ask each bank.
Where can a provider help?
A provider can register the company, supply the address and company secretary, and help with the bank file. Customs permits and the goods rules stay your responsibility. Use the quote form and we pass your request to suited providers.
Sources
- Singapore Customs, obtain a customs import permit: https://www.customs.gov.sg/doing-business/import-operations/import-procedures/obtain-a-customs-import-permit/ (steps, GST and duty)
- Singapore Customs, TradeNet: https://www.customs.gov.sg/doing-business/quick-links-for-traders/tradenet/
- ACRA, fees: https://www.acra.gov.sg/manage/companies/service-transaction-fees/ (S$15 and S$300)
- IRAS, GST registration: https://www.iras.gov.sg/taxes/goods-services-tax-(gst)/gst-registration-deregistration/do-i-need-to-register-for-gst
- IRAS, corporate income tax rate and exemptions: https://www.iras.gov.sg/taxes/corporate-income-tax/basics-of-corporate-income-tax/corporate-income-tax-rate-rebates-and-tax-exemption-schemes
