How to Launch a Singapore Import–Export Company in 5 Steps (2025 Guide)
Entering With Ease: Why Singapore?
Singapore remains one of the world’s most pro-trade nations, offering low tariffs, a transparent regulatory environment, and strategic access to global markets. For entrepreneurs eyeing import–export opportunities, it’s a natural choice.
1. Register Your Trading Company with ACRA
Your journey starts by incorporating a legal business entity with the Accounting and Corporate Regulatory Authority (ACRA).
- Most choose a Private Limited Company (Pte Ltd).
- You’ll need at least one local director, a registered Singapore address, and a minimum paid-up capital of S$1.
- Once registered, your company receives a Unique Entity Number (UEN) required for banking, tax, and customs filings.
Pro Tip: WLP specializes in fast, compliant incorporation services—handling ACRA submissions, name reservations, and documentation with precision.
2. Open a Corporate Bank Account
Before importing or exporting goods, you’ll need a Singapore corporate bank account to handle transactions.
- Required documents typically include: Certificate of Incorporation, Business Profile, Company Constitution, and identity documents of directors/shareholders.
- Popular banks: DBS, UOB, OCBC, or international banks like HSBC.
- Remote bank account openings are possible, though some banks still require in-person verification.
3. Activate Your Singapore Customs Account
Once your company and bank account are set, you must activate your Customs Account via Singapore Customs.
- Log in via CorpPass to check if it’s already activated. If not, submit a verification request manually.
- A valid Customs Account allows you to apply for permits, manage GST matters, and comply with trade rules through TradeNet.
4. Apply for Required Trade Permits & Licenses
Singapore regulates the import/export of many goods, including:
- Food and beverages (SFA)
- Electronics and communication devices (IMDA)
- Pharmaceuticals and cosmetics (HSA)
- Health supplements and controlled substances
Apply for permits via TradeNet, either directly or through a declaring agent.
5. Understand GST, Duties & Tax Relief Schemes
Singapore applies 9% GST on imported goods, based on their CIF (Cost, Insurance & Freight) value. Exports, however, are zero-rated for GST purposes.
- Only specific categories like alcohol, tobacco, and motor vehicles incur customs duties.
- Businesses can apply for GST suspension schemes, such as:
- Major Exporter Scheme (MES)
- Zero-GST Warehouse Scheme
- Approved Import GST Suspension Scheme (AISS)
WLP helps clients optimize cash flow through compliant tax structuring and landed-cost accounting tailored for trading companies.
Ready to start? Get in touch with WLP and launch your import–export company the smart way.