Export is one of the most important branches of Singapore’s economy, which is why the number of trading companies has increased a lot during the last several years. However, in order to open a company in Singapore as a trading company, businessmen must follow a few procedures related to the company incorporation process and then apply for the necessary import/export license followed by the registration with the Singapore Customs Authorities.
Our Singapore company formation agents can help you open a trading company in the city-state.
Steps before registration with the Singapore Customs
All trading companies in Singapore are required to follow several steps before starting operating. Apart from registration with the Accounting and Corporate Regulatory Authority which enables them to carry out commercial activities, these companies must also apply for the following:
- – an Unique Entity Number;
- – for the necessary licenses to import or export non-controlled or controlled goods;
- – for the IN Permit, which allows importing goods into the country;
- – the OUT Permit, which allows exporting goods out of the country;
- – the special JNTDEC3 permit for exporting, re-exporting, transshipping and transportation of special controlled products;
- – the Customs permit.
Our consultants in company formation in Singapore can offer more information on all permits required when registering a company with the Singapore Customs.
Registering the Singapore trading company with the Customs
Once the previous procedures completed, the Singapore trading company may begin its registration with the Customs Authorities. The company’s representative is required to register with the Singapore Customs and appoint a declaring Agent. Our specialists in opening companies in Singapore present below the documents which must be filed with the Customs Authorities in order to activate a customs account in Singapore:
- – the company’s details;
- – the company’s representative details;
- – the first contact person’s details;
- – the second contact person’s details;
- – information about the other personnel allowed to access the account.
The company must also appoint an administrator of the account and billing details.
For complete information on how to activate a customs account for a trading company, you can contact our Singapore company formation representatives. We can also help you if you want to open a company in Singapore.