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Everything you need to know about setting up and succeeding in Singapore
【Licensing】Custom Registration
Companies registered in Singapore can directly engage in international trade. If a company intends to import products into Singapore, the goods must undergo customs clearance upon arrival. This requires the company to submit an application to Singapore Customs in advance and obtain the necessary registration or permits. Once the customs registration is approved, logistics companies or customs brokers can declare the goods to Singapore Customs on behalf of your company, pay Goods and Services Tax (GST), and import the goods into Singapore.
Based on official Singapore Customs information, the detailed steps are as follows:
Register the company and activate a customs account
The company must first register with the Accounting and Corporate Regulatory Authority (ACRA) to obtain a Unique Entity Number (UEN). After registration, the company should activate a customs account to facilitate subsequent declaration and tax processes.
Verify if the goods are controlled
Before importing, confirm whether the goods fall under controlled categories. This can be checked using the product description, Harmonized System (HS) code, or relevant regulatory authority product codes. If the goods are controlled, the appropriate permits must be obtained from the relevant authorities.
Apply for a customs import permit
All imported goods require a customs import permit. Companies may apply directly or engage a Declaring Agent to handle the application. Applications are submitted through the TradeNet system. If the company applies directly, it must register as a Declaring Agent and obtain a TradeNet user ID.
Set up Inter-Bank GIRO (IBG) payment
The company or its customs agent must open an IBG account with Singapore Customs to pay duties, GST, and other fees. The application form should be mailed to the designated address of Singapore Customs.
Provide security or bond (if applicable)
For taxable goods, temporary imports, or operations at licensed premises, security may be required. Acceptable forms include bank guarantees, financial institution guarantees, or insurance bonds.
Pay duties and GST
Import duties and GST are generally calculated based on the CIF value of the goods, which includes the cost, insurance, and freight. GST-registered companies may apply to the Inland Revenue Authority of Singapore (IRAS) for a refund of the GST paid.
Submit required documents for clearance
During customs clearance, the following documents must be presented:
Printed copy of the customs import permit
Commercial invoice
Packing list
Bill of Lading or Air Waybill
Observe special requirements for certain goods
Some goods may require additional permits or compliance with specific regulations, such as:
Strategic goods: Require a Strategic Goods Permit
Temporary imports: Eligible for tax exemption under the Temporary Import Scheme (TIS), but must be re-exported within the stipulated period
Controlled goods: Such as pharmaceuticals or pets, require permits from the relevant authorities
For more detailed procedures or to access relevant forms, please visit the Singapore Customs official website: https://customs.gov.sg.
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