How To Get An Import Permit/License In Singapore
So, you have decided to import goods to Singapore – one of the largest trading hubs in not only South East Asia but the entire world. For decades, Singapore has ranked consistently amongst the world’s best countries in terms of ease of doing business. This has been fuelled by its remarkable connectivity and logistics infrastructure, appetite for innovation, skilled labor, and hassle-free regulations.
But before you begin with your venture, it is important to be aware of all the prerequisites of the import and export procedure to meet international trade compliances. In this blog, we will learn about how you can get an import license in Singapore in a hassle-free manner.
How to get a license for imports in Singapore?
It is not at all difficult to get an import license in Singapore if you follow certain steps:
- First and foremost, you need to activate your customs account using a Unique Entity Number (UEN). To do that, register with ACRA i.e., Accounting and Corporate Regulatory Authority. Alternatively, you can register with another relevant agency. Doing so will help you obtain your UEN.
- The next step is to obtain a customs permit, either for your shipments or your clients. To do that, you can either appoint a Declaring Agent on your behalf or obtain the permit yourself by registering as a Declaring Agent and applying for a TradeNet user ID. If you’re wondering, TradeNet is a software that will allow you to submit your permit applications.
Things to remember
- Every permit application is usually charged at around S$2.88, exclusive of service fees of service providers like declaring agents, freight forwarders, etc.
- Each import permit application has a validity period.
- For all payments related to taxes, duties, and any other import permit charges, an Inter-Bank GIRO (IBG) account with Singapore Customs is a must.
- For proper documentation and declaration of goods, you can also appoint an Importer of Record – an entity responsible on your behalf to carry out import, liaise with authorities, or submit tax or duty payments.
- Try to obtain legal assistance as it is most likely that you will not have the knowledge about the import process in the beginning, let alone the language, which is very important to be able to apply for your business permit. So, you can engage a lawyer from Singapore to help with the process.
- It is important to be aware of your foreign business operation and the rules that govern the importation to Singapore. Remember that if you do not comply with the import laws, you will be slapped with a hefty fine.
- Apart from the import permit, you will also require various other documents for goods clearance in Singapore, whether the goods are entering by land, air, or sea. These include invoices, packing list, Bill of Lading/Air Waybill, etc.
How Tazapay can make a difference
Getting an import license is a tedious task and can be challenging for first-time importers to Singapore. However, there are many companies that can help you in learning more about the import and export procedure and processes, such as Tazapay.
As one of the most trusted online platforms for B2B trade, Tazapay provides you with all the critical information regarding international trade and verification processes to make your import seamless. Moreover, Tazapay also gives you the power to verify international trade partners and secure your international payments using digital escrow.
Export & Import
How To Get An Import Permit/License In Singapore
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