|Singapore||20ft container||40ft container|
|Singapore sea port||£1380.00||£1700.00|
LCL shipping from our Warehouse in Feltham TW14 post code to Singapore ports
|Total Volume *||Singapore|
|Destination||50 kilos||200 kilos||500 kilos|
|Destination||50 kilos||200 kilos||500 kilos|
* Documentation surcharge applies to any shipping to Singapore.
* For an accurate price, please use our online quotation form above and provide detailed information about your shipment requirement to Singapore.
Singapore is a small, but wealthy city-state with an open and trade driven economy. It’s a leading global business hub, located where the major east and west shipping lanes converge.
Singapore has a stable government, strong rule of law and effective regulatory system. It is ranked by the World Bank as the easiest place in the world to start, run and do business. You can set up a new business in a matter of hours.
It’s a financial, shipping and trade hub for the Asia Pacific region, and the government has a pro-business economic and trade policy.
Over 1,000 British companies have a presence in Singapore, and 30,000 British residents live there.
Benefits to UK businesses exporting to Singapore include:
Strengths of the Singapore market include:
The main challenges of doing business in Singapore are due to the size of the country and population.
Specific challenges include:
As one of the world’s most open economies Singapore is a indicator of global trade. Growth slowed in 2015 to 2% from 2.9% in 2014 mainly due to sluggish trade with China.
The International Monetary Fund (IMF) predicts growth of 2.9% in 2016. Challenging conditions are likely to persist and growth of 1 to 3% annually is forecast over the medium term.
Singapore is the second most densely populated country in the world with one-third of the population made up of foreign workers and residents. It’s economy:
Singapore is currently restructuring its economy to:
This move towards knowledge-driven, high-value and creative businesses offers huge opportunities for UK businesses with expertise in these areas.3.1 Association of South East Asian Nations (ASEAN)
ASEAN is an increasingly important economic region which is:
Singapore is ASEAN’s most developed economy and regional trade and finance hub. It’s a natural starting point and gateway into the region.
Many of the UK’s largest companies operate their regional businesses from Singapore. They include Barclays, BP, GSK, HSBC, PWC, Rolls-Royce, Standard Chartered, Shell, Tate and Lyle and Unilever.3.2 Free Trade Agreements and partnerships
Singapore has 20 regional and bilateral Free Trade Agreements (FTAs) with 32 trading partners, covering the majority of its trade. It is a member of the Trans-Pacific Partnership.
The European Union (EU)-Singapore FTA concluded in October 2014:
Singapore accounts for half of UK exports to ASEAN, worth £5.6 billion in 2014, although some will be re-exported elsewhere. It is one of our largest trading partners in Asia and one of the few countries with which the UK has a trade surplus.
The top 10 exports from UK to Singapore are:
The UK is the largest EU investor into Singapore (on par with the Netherlands). It’s the fifth largest total source of foreign direct investment (FDI) into Singapore with investments worth over £30 billion at the end of 2014.
Half of Singapore’s FDI into the EU goes to the UK, including some significant investments in infrastructure.
Department for International Trade (DIT) provides free international export sales leads from its worldwide network. Search for export opportunities.
There is a strong construction demand from:
Singapore’s Land Transport Authority (LTA) is overseeing the doubling of the Mass Rapid Transit (MRT) network to 360km by 2030. There will also be major renewal projects for older lines on the MRT. Up to 2020 it will tender for the design and construction of the:
Plans aim to boost Changi’s capacity by building:
The relocation of Singapore’s transshipment port operations will nearly double capacity by 2023. This will open up extremely high value opportunities for UK businesses. The port leases at Tanjong Pagar, Keppel and Brani will end in 2027.
The financial and professional services sector currently makes up about a quarter of Singapore’s GDP. There is a substantial UK presence in this sector.
There are opportunities for companies in:
Singapore’s Smart Nation initiative aims to rally relevant individuals and organistions to co-create innovative solutions related to living, transport and healthcare. It will harness technology to improve the lives of citizens, create more opportunities and build stronger communities.
Infrastructure investment is expected to grow by 50% to about £15 billion by the end of 2020.
Current projects on trial include:
There are opportunities in UK companies (including start-ups) who have solutions especially relating to:
Singapore’s government has recognised the Creative Industries as a vital component in enhancing Singapore’s economy. Its Creative Industries Development Strategy aims to develop a creative economy.
There are 3 areas of opportunity for UK companies in terms of partnership and supply of expertise:
There is a strong drive to grow Singapore’s capabilities in biomedical sciences sector (BMS) research. There is a focus on R&D, clinical trials, and commercialisation, supported by a high level of IP protection and industry standards.
Leading pharmaceutical companies have multiple manufacturing sites in Singapore with opportunities for supporting products and services.
Singapore’s healthcare system is ranked the sixth most effective in the world and it remains keen to enhance its position as the regional hub for medical excellence.
The aging population has increased the need for acute care hospitals and long-term care services. Hospitals regularly test and introduce new medical technologies. This gives UK companies with innovative products an opportunity to work with hospitals to research and introduce their products into the market.5.6 Education and training
Singapore aims to sustain its economic growth through higher skills and innovation.
Singapore’s focus on the SkillsFuture programme means that Singapore is projected to nearly double spending on continuing education and training to over S$1 billion (£477 million) per year from now to 2020.
There are opportunities for UK businesses in the areas of:
Singapore is Asia’s leading oil trading hub. It has extensive oil storage facilities and is seeking to increase its refining capacity.
The clean energy sector is also an increasingly important area for Singapore.
Singapore is recognised as a ‘Global Hydrohub’ with about 180 water companies. It’s an ideal springboard for environmental and water companies looking to serve the region.
There are opportunities for UK business in the areas of:
All businesses must be registered with the Accounting and Regulatory Authority of Singapore (ACRA). The process is very simple and can be completed online.
The 3 most common types of company are a:
Registration time varies from 1 to 5 days depending on the business structure you choose.
Before you can start a business in Singapore you:
Contact the Department for International Trade (DIT) team in Singapore for information on legal and accounting professionals who can give advice to British businesses looking to set up in Singapore.
Many companies engage local agents and distributors as an effective route to market.
Franchising is a well tried option and a number of UK brands have a presence in Singapore including Marks & Spencers and New Look.
The legal system in Singapore is very sophisticated and is based almost entirely on British common law between the 1820s and 1970s.
Singapore benefits from:
Company law in Singapore is very similar to that in the UK. There is no restriction on the type of business that may be set up. However in some sectors businesses may have to apply for special licenses from specific government departments in order to do business.
These include the:
Non-residents must hold a valid employment pass (EP) before they can work in Singapore. On average, it takes less than 2 weeks to get employment passes for foreign staff. The Ministry of Manpower website provides full details of all employment passes, as well as dependency passes for family members.7.1 Standards and technical regulations
The Consumer Protection (Safety Requirements) Regulations (CGSR) protect consumers from unsafe products.
SPRING Singapore acts as the safety authority to ensure the safety of 45 categories of household electrical, electronic and gas products. These products are classed as controlled goods and suppliers must register them with SPRING before putting them up for sale.
Packing and labelling of:
Contact the Agri-Food & Veterinary Authority of Singapore (AVA) for detailed guidelines on food labelling.
Contact the Heath Sciences Authority for information on medicines and cosmetics.7.2 Intellectual property (IP)
Singapore’s IP regime has been consistently recognised as the best in Asia and one of the best in the world by international surveys including:
It has extensive programmes to develop its IP infrastructure and ecosystem and aims to become the IP hub of Asia. According to the Global Innovation Index 2015, Singapore is also Asia’s most innovative country.
The Intellectual Property Office of Singapore has full information on legislation and filing requirements.
Singapore offers a low tax environment for businesses.8.1 Sales tax
The Goods and Services Tax (GST) is 7%.8.2 Company tax
The corporate tax rate is 17%.
There are also financial incentives for new businesses that meet qualifying conditions. Companies can claim:
The individual tax rate is tiered between 0 and 20%. The top rate of tax will increase to 22% in 2017.8.4 Customs
Import and export permits are required by Singapore customs.
Singapore generally operates a free trade regime and more than 99% of imports are duty free. The only exception is on 6 lines of alcoholic beverages, but these will be minimised once the EU-Singapore FTA comes into force.8.5 Documentation
For import of all goods, including controlled and non-controlled items, businesses are required to:
Singapore is in some ways more conservative than the UK.
It is important to: