This section provides an overview of the various schemes and licences available under Singapore Customs, designed to meet the diverse needs of traders in Singapore. Click on a topic of interest to learn more.
Overview of Singapore Customs Registration and Licensing
The strategic geographical location of Singapore at the crossroads of East and West contributes to its growth as a key trading hub. In order to facilitate trading business that is currently making significant contributions to the country’s economy, Singapore Customs has implemented various schemes and licences that meet different needs and requirements of traders.
The Drivers Behind The Rise of Singapore Export Market
Singapore continues to strengthen its position as a global trading hub through initiatives that streamline export processes and boost trade competitiveness. With steady growth in non-oil domestic exports and strong demand for electronics and petrochemicals, government frameworks like TradeFIRST help businesses reduce costs, improve efficiency, and expand internationally.
Right Balance between Compliance and Trade Facilitation
To curb the proliferation of weapons of mass destruction (WMD), Singapore enforces strict export controls under the Strategic Goods (Control) Act (SGCA). The Act regulates the transfer, export, and brokering of strategic and dual-use goods to safeguard the global supply chain. In a recent enforcement case published by Singapore Customs, a company and its director were fined over S$250,000 for exporting strategic goods without a permit and submitting false declarations. Businesses are urged to implement strong internal controls and accurate trade declarations to ensure compliance and avoid severe penalties.
