Company Formation Singapore

CHECK COMPANY
NAME AVAILABILITY (Step 1)



Articles

The Singapore Market Readiness Assistance Grant

Updated on Friday 11th August 2017

Rate this article
5 5 1
based on 1 reviews


The-Singapore-Market-Readiness-Assistance-GrantFor several years now, the Singapore government creates various types of schemes, incentives and grants with the purpose of attracting foreign investors or simply assisting companies registered here. With the number of small and medium-sized enterprises and startup businesses on the rise, International Enterprise Singapore (IE Singapore), the governmental agency in charge with promoting local companies with presences in other countries, has recently launched the Market Readiness Assistance (MRA) grant.

Our company formation specialists in Singapore explain below how to apply for the MRA and its benefits.

What Singapore companies does the MRA address?

According to IE Singapore, the MRA is a program designed for SMEs expanding their operation outside Singapore for the first time. These companies can be refunded 70% of the costs related to activities like:

  • -          the setup of the foreign office;
  • -          costs related to finding business partners in the chosen country;
  • -          promotional activities.

In order to qualify a company must be registered in Singapore and have an annual turnover below 100 million SGD per year. The turnover will be determined based on the most recent audited accounts.

Our Singapore company formation agents can also help foreign entrepreneurs who want to open companies in the city-state.

What are the requirements of the MRA?

The Singapore Market Readiness Assistance scheme will accept a maximum number of 2 applicants per fiscal year. We remind you that the fiscal year starts on April 1st and ends on March 31st the next year in Singapore. Also, only one activity of those mentioned above can be submitted with IE Singapore.

If the project submitted under the MRA is worth more than 5,000 SGD, the Singapore company will be required to appoint an auditor who will verify the expenses of the project. Companies using the services of an auditor recommended by IE Singapore can benefit from an audit free grant.

Once the company is accepted, IE Singapore will reimburse the costs incurred with the project directly in its corporate account.

For full information on the MRA grant, do not hesitate to contact our Singapore company formation consultants. You can also rely on us if you want to open a company in Singapore.

 

Comments

There are no comments

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