Singapore has become one of the most important trading hubs in the world, thanks to its strategic geographical location and the facilities offered to companies operating or stopping here before their next destination. Seeing the great potential, the trading sector has, the Government has enabled several programs destined to trading companies, one of them being the Global Trader Programme, which is also the longest-standing one. The Singapore Global Trader Programme was initiated in 2001, when it replaced other initiatives.
Our company formation agents in Singapore can help foreign investors open trading companies in the city-state.
The Global Trader Programme was created by merging the Approved Oil Trader and the Approved International Trader initiatives and provides for reduced corporate tax rates of 5% and 10% for periods ranging between 3 and 5 years to wholesale traders. Both large and medium-sized international companies can join the program as long as they set up operations in Singapore. These companies must also account for the creation of jobs and must have a clean track record.
The following criteria must be met by companies intending to adhere to the Global Trader Programme in Singapore:
The manager can also be among the 3 professionals the company is required to hire.
Singapore companies applying under the Global Trader Programme can trade commodities, such as:
Apart from products and commodities, a company may also be involved in re-export and trans-shipment activities or offshore trading activities.
For assistance in joining the Global Trader Programme, do not hesitate to contact our company formation representatives in Singapore.