Singapore Free Zones

MULTI TRUST LTD assist our Clients with registering their business in Singapore’s free trade zones (FTZs), in order to benefit from numerous tax advantages and easier custom compliance requirements when exporting abroad. Singapore’s free trade zones are indeed an attractive option for foreign companies looking for a hub from where to distribute their products globally.

The Singapore free zones

• The Singapore free zones (or FTZs) are estates offering storage facilities to both foreign and local companies. The Singapore authorities currently operate nine FTZs:
  1. Brani Terminal
  2. Keppel District Park
  3. Pasir Panjang Terminal
  4. Sembawang Wharves
  5. Tanjong Pagar Terminal & Keppel Terminal
  6. Jurong Port
  7. The Changi Airport Group
  8. Airport logistics Park of Singapore and
  9. Changi Airport Terminal Complex;
• Companies registered in a Singapore free trade zone benefits from numerous advantages including:
  1. no permit is required for the transshipment of non-controlled goods
  2. no custom duties and
  3. no GST on products imported in a FTZ, provided these products are thereafter re-exported (not sold locally);
• Singapore free zones also provide an ideal storage solution thanks to
  1. Singapore’s excellent transportation infrastructure
  2. simplified customs procedures and
  3. their convenient location, close the Singapore Ports Terminals and Changi International Airport, which appeals to entrepreneurs running a trading and shipping businesses.

How to register a company in a Singapore free zone

• In accordance with the Free Trade Zones Act, both foreign and local companies can use the Singapore FTZs. They must however obtain a permit from the free trade zone authority. PSA Corporation Authority supervises the following FTZs:
  1. Brani Terminal
  2. Keppel Distripark
  3. Pasir Panjang Terminal
  4. Sembawang Wharves
  5. Tanjong Pagar Terminal and
  6. Keppel Terminal. The other FTZs are supervised by their own authority;
• MULTI TRUST LTD may assist our Clients interested to run operations in an FTZ to i) evaluate the eligibility of their project ii) draft a detailed business plan fulfilling registration requirements and iii) register their company directly with the relevant government entity;
• Companies using Singapore free zone must have a paid up share capital of SG$100,000 if a warehouse is required or SG$50,000 if only an office space is required. The paid up share capital must be deposited during the first year of operations and can be used for business expenses.