Company Formation Singapore

CHECK COMPANY
NAME AVAILABILITY (Step 1)



Articles

Free Zones in Singapore

Updated on Friday 10th March 2017

Rate this article
5 5 1
based on 5 reviews


Free-zones-in-SingaporeFree trade zones are areas through which companies can import, sell or export goods without customs, excise duties or goods and services tax (GST). Singapore also has free trade zones (FTZs) which enables companies in the trading sector to benefit from transportation facilities. These special areas are regulated by the Free Trade Zones Act enabled in 1966 and last amended in 2014. Singapore’s FTZs allows companies to store their merchandise temporarily until they are loaded to a ship or an aircraft without customs clearance.

Our specialists in company registration in Singapore can provide you with more information about the facilities offered in the city-state’s free trade zones.

The video below offers information on Singapore's free zones:

Singapore’s free trade zones

At the moment, Singapore has nine free trade zones:

  • -          Brani Terminal;
  • -          Keppel District Park;
  • -          Tanjong Pagar Terminal and Keppel Terminal;
  • -          Jurong Port;
  • -          Sembawang Wharves;
  • -          Pasir Panjang Wharves,
  • -          Changi Airport Group;
  • -          Changi Airport Cargo Terminal Complex;
  • -          Singapore FreePort located in the Airport Logistics Park.

Singapore companies operating in one of these FTZs are not required to pay customs duties until their goods exit the free zones. These companies also benefit from streamlined customs procedures when importing goods in the city-state.

In order to operate in one of Singapore’s free zones, local companies must obtain a permit from TradeNet which allows them to import, export and transport their goods overseas. They must also obtain permission from the Customs Authorities in order to keep their goods in the FTZs. Foreign companies operating in Singapore must work with local transporters and traders in order to obtain a license.

Opening a company in a Singapore free zone

Foreign investors seeking to start a company in one of Singapore’s free zones can do so without any restrictions. The minimum share capital for setting up a business in a FTZ depends on whether the company needs warehouse or office spaces and it must be deposited within the first year of the registration. The company must also obtain a permit from the free zone’s authority.

For assistance with the documentation and licensing for starting a company in a free trade zone, do not hesitate to contact our Singapore consultants in company formation.

Comments

  • Prithivi Rajan 2016-05-06

    we have company in Dubai , UAE. we want to open in Singapore. free zone.

    Hello Prithivi Rajan and thank you for writing to us! Please send us a detailed e-mail with your request at: office@lawyers-singapore.com. Have a wonderful day!

Comments & Requests


Please note that client queries should NOT be posted here but sent through our Contact page.

Why choose us?

As a DM Advisory client, you will benefit from the joint expertise of local lawyers and consultants for opening an offshore company in Singapore. 

Company-formation-Singapore-agents.png

Company-formation-Singapore-cost.png

Company-formation-Singapore-24.png

Company-formation-Singapore-1000.png


Call us now at + 852 8191 3385 to set up an appointment with our consultants in Singapore

 

Online Incorporation

tax-calculator-singapore

Tax Calculator

tax-calculator-singapore

Testimonials

Francesco-Dagnino.jpg

The experts at OpenCompanySingapore.com helped my clients establish a company in Singapore fast and easy. I would definitely recommend them to any foreign investor interested in forming a company in this Asian jurisdiction.

Francesco Dagnino, Partner of
Lexia Avvocati
www.LawyersItaly.eu

Read more testimonials

We Recommend ClientPedia

This website is marketed by ClientPedia

Banner-Promoting ClientPedia-244px.jpg

We accept online payments

paypal-logo.png