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Asia
Lane is Available
Importing to Singapore
With a booming digital economy and an open trade environment, Singapore offers many opportunities for tech importers and exporters. While its trade regulations are extensive, an experienced IOR or EOR can ensure seamless tech trade with Singapore.
Tax
up to 7%
Duties
up to 0%
Lead Times
2-3 weeks
Restricted Items
Country of Origin Prohibitions, Second-Hand and Refurbished Goods, Certain Tech Goods
Best Carrier Option
Freight Forwarder or Courier
Non-Working Days
Saturday, Sunday, and Public Holidays
Prominent Languages
Malay, Tamil, Singaporean Mandarin, and English
Exporting and Importing to Singapore
Singapore’s main imports include integrated circuits, gold, machinery, and crude and refined petroleum, mainly from China, Malaysia, the US, Taiwan, and South Korea. Singapore’s main exports include integrated circuits, refined petroleum, machinery, gold, and gas turbines, mainly to Hong Kong, China, Malaysia, the US, and Indonesia.
Singapore has an expansive network of 27 Free Trade Agreements (FTAs) and strives to maintain a free and open trading environment. Singapore has also signed various Digital Economy Agreements, Avoidance Double Tax Agreements (DTAs), International Investment Agreements, and Mutual Recognition Agreements.
With the incoming AEC Blueprint 2025 adopted by Association of Southeast Asian Nations (ASEAN) leaders, Singapore will further integrate with the enlarged market of 600 million people. Singapore’s advanced financial and trade infrastructure position it as a gateway into Asia, making it ripe with opportunities for importers and exporters.
According to the IMDA’s “Singapore Digital Economy Report 2024,” Singapore’s Digital Economy was valued at $113.2 billion in 2023, accounting for 17.7% of Singapore’s GDP. With its Smart Nation 2.0 initiative, Singapore is driving growth in its digital economy and shaping its nation with technology.
Evolving digital technologies such as AI, AR, VR, and quantum technology present opportunities for exporters and importers to Singapore. However, risks like cybersecurity, cyberbullying, inequality, online isolation, and job disruptions must be considered. Prime Minister Lawrence Wong has stated that Singapore “… must shape and direct digital developments toward outcomes that benefit Singaporeans.” Therefore, the Smart Nation focuses on trust, growth, and community.
The Smart Nation 2.0 initiative opens doors for importers of cybersecurity, digital infrastructure, AI, broadband equipment, and digital devices. Singapore aims to utilize AI to transform the country and improve its citizens’ lives. According to Smart Nation Singapore, in 2023, 44% of larger enterprises in the country adopted AI.
With the Green Data Center Roadmap, Singapore has created a pathway for data centers to support the digital economy’s growth sustainably. This would require using green energy and energy-efficient hardware and software in data centers. This creates opportunities for importers to contribute to Singapore’s greener future with innovative and sustainable tech.
Importer of Record Singapore
TecEx can tailor a solution for your unique import or export needs. As your Importer of Record, we can take on your risk and smoothly import your goods to Singapore. With our presence in Singapore, knowledge of FTAs, and expertise in import permits, we can ensure your trade compliance for seamless customs clearance. We also have established relationships to assist you with obtaining necessary permits from the IMDA to import dual-use goods.
As an Exporter of Record, TecEx can assist you with the compliant export of your goods from Singapore. We can prevent stuck shipments and penalties by taking on your compliance responsibilities, collecting the necessary documentation, and fulfilling financial obligations.
If you need to complete a temporary import, TecEx can establish whether you’ll benefit from the Temporary Import/Export Scheme or an ATA Carnet. With our expertise, we’ll ensure you obtain all necessary documents and permits to save on GST and duties while complying with Singapore’s extensive requirements.
If you are importing refurbished or secondhand goods, we have the experience to confirm what type of approval your import will need, and to obtain the required NEA approval and permits for a successful shipment.
Population
5,918 M
Biggest Industry by Export
Machinery and Equipment
Capital City
Singapore
Biggest Industry by Import
Machinery and Equipment
Unique Pain Points
Both importing to and exporting from Singapore require various permissions, approvals and permits. To carry out import or export activities in Singapore, a company must obtain a Unique Entity Number (UEN) and activate a customs account. To pay for GST, duties, taxes, and penalties, a company requires an Inter-Bank GIRO (IBG) issued by Singapore Customs. After this, a company must establish whether their goods are controlled, obtain an import permit, and make the shipment within the permit’s validity period.
Importers need to understand at what point duties and GST should be paid:
- Suspended within Free Trade Zones (FTZ)
- Payable when goods are directly released for free circulation
- Suspended within zero-GST warehouses
- Not payable if goods were granted relief
- Not payable under the Temporary Import Scheme
Under the Consumer Protection (Safety Requirements) Regulations (CPSR), importing certain tech goods to Singapore may require a company to register as a Registered Supplier. Medium and high-risk products will additionally require a Certificate of Conformity or Declaration of Conformity.
Further Reading on Imports to Singapore
Asia
Hong Kong
Asia
Malaysia
Singapore Prohibited & Restricted Goods
Telecommunication equipment, scanning receivers, telephone voice-changing equipment, specific radio-communication equipment, and radio communication jamming equipment are prohibited from being imported to Singapore unless approved by IMDA before import. Other dual-use goods with specific HS codes are under Singapore import controls, meaning that importers also require approval from IMDA.
The financial penalty for violating the above will not exceed either of the following amounts:
- 10% of the annual turnover of that part of the person’s business, or
- $1 million.
Restricted goods include repaired or refurbished goods, re-used goods, and recycling. Refurbished goods require specific documents and proof of the repair or refurbishment to gain import approval. In contrast, re-used goods require various reports and evidence of being in a working condition before import.
The exporting country and the importer must approve recycling, and the importer must have a recycling facility. Approval is difficult to obtain unless you utilize the services of an experienced Singapore Importer of Record like TecEx.
Singapore Export Controls
Any military and dual-use goods found on the Singapore Strategic Goods Control List (SGCL) require an export permit to leave Singapore. The list includes items from the following export control regimes: the Australia Group, the Nuclear Suppliers Group, the Missile Technology Control Regime, and the Wassenaar Arrangement.
Additionally, Singapore has sanctions and restrictions against Russia to reduce Russia’s ability to continue its war against Ukraine.
Specific Compliance Regulations
IMDA Approval to Import Dual-Use Goods
Prior approval from the IMDA is pertinent when importing dual-use goods. TecEx can help you establish whether this is necessary and help you apply for the relevant permit.
NEA Approval to Import Secondhand and Refurbished Goods
Importing secondhand and refurbished goods to Singapore requires approval from the National Environmental Agency. This requires various documents, but our TecEx Singapore team can help guide you.
Permits to Export from Singapore
In Singapore, permits are usually necessary for exports, temporary exports, re-exports, and exports of strategic goods and technology. Your goods cannot leave Singapore without a permit and other required documents.
Temporary Exports and Imports to Singapore
Singapore’s Temporary Import/Export Scheme and its acceptance of ATA Carnets can be highly beneficial. However, there are extensive requirements. Common mistakes include acquiring the wrong permit, failing to re-export goods on time, failing to extend a permit, or failing to arrange customs supervision.
Minor violations of Singapore’s Customs Act can result in penalties of S$5,000 per offense. Partnering with an expert like TecEx is advisable when carrying out temporary shipments.
Your global trade solution for Singapore
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