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(Last updated: 19 Aug 2008)
Business opportunities
Austrade’s business development specialists have prepared a range of market profiles that offer potential to assist in your exporting investigations. Austrade’s in-market teams have identified opportunities for Australian exporters in various industries (see 'Profiled industries in this market' on the left side of this page).
In conjunction with the market profiles, the Opportunities Online portal may be a useful addition to your information sources. The database established by Austrade aims to deliver international sales leads ('export opportunities'), including tenders, identified by our overseas network to Australian businesses.
Registering is simple and once this is done you will have the option of accessing a weekly newsletter featuring the most recent opportunities uploaded onto the system in industry sectors of interest to you. Another feature is the ability to view, and also print, the complete page of opportunity details.
For general inquiries concerning Austrade’s services, please contact Austrade Direct on 13 28 78.
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Business etiquette
Business tips
Relationship building is a very important aspect to doing business and is best achieved outside of the workplace, usually during lunch or dinner. It is important to exchange business cards upon introduction. Business cards are to be received with two hands and closely inspected before placing it into your cardholder.
Please understand the structure of Chinese, Malay and Indian names. Many Singaporeans adopt a European name. It is important to use title plus family name upon introduction. The European (or given) name is to be applied only once you are confident that a relationship has developed.
For men it is common practice to wear short sleeves and open neck shirts. However, Australian visitors on a first call should consider wearing long sleeve shirts and tie. A jacket is considered very formal. For women, a formal blouse and skirt is the usual attire, and stockings are optional.
There are many useful publications on business culture in Singapore such as "Culture Shock Singapore" and "Kiss, Bow or Shake Hands: How to do business in 60 countries". Visitors may want to read these books before their visit.
Please also note:
Bribery of foreign public officials is a crime. Australian individuals and companies can be prosecuted in Australia for bribing foreign officials when overseas. For more information, go to the Attorney General's Department on foreign bribery.
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Tariffs and non-tariff barriers
Tariff
Two-column tariff based on the Harmonised System. Duties may be either ad valorem, assessed on the CIF value (Incoterms 1990), or specific, expressed in Singapore dollars per specified unit of quantity.
Singapore is a member of the Association of South East Asian Nations (ASEAN). Preferential rates are applied to imports from other ASEAN members.
The Port of Singapore includes a duty-free zone where goods in transit may be stored, resorted or repacked without incurring duty.
The Customs Department provides comprehensive information for importers and exporters:
Customs and Excise Department
55 Newton Road
#10-01 Revenue House
Singapore 307987
Tel: +65 272 8222
Fax: +65 250 8663
Email: CED_Email@ced.gov.sg
Non-tariff barriers
Singapore does not impose import quota restrictions with most goods imported under open general licence. However, significant import duties are levied on a small range of items, such as liquor, tobacco, petroleum products and motor vehicles.
Rice imports require an import license issued by the Trade Development Board of the Ministry of Trade and Industry.
Import permits issued by the Singapore Agri-Food & Veterinary Authority are required for a specified list of plant and animal products.
Prior import clearances are required for imports of specified chemical products and passenger motor vehicles in complete or partially knocked down condition.
Importers must submit an inward declaration to the Import and Export Office, Trade Development Board.
An import and delivery verification certificate (IDVC) is required for products which are subject to export control in the country of export, and must be submitted prior to arrival in Singapore.
Prohibited imports include used motor vehicles which are more than three years old, and plants growing in soil.
The entry of a range of consumer manufactures may be subject to acceptance by the Singapore Productivity and Standards Board (PSB).
Electrical regulations are generally modeled on the British Standards specifications. Increasingly, IEC standards are adopted.
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Product certification, labelling and packaging
Labelling should indicate:
- country of origin
- packaging dimensions
- name and address of manufacturer
- composition
- expiry dates
Foodstuffs (including beverages), and drugs are subject to, and must comply with specific detailed labelling requirements.
Specified metric sizes are mandatory for a number of prepacked consumer items, including:
- butter
- rice
- white sugar
- wheat flour
- cooking salt
Packing should be sturdy and should guard against extreme heat in the tropics and high humidity (frequently over 90 per cent) and possible brief periods of storage in the open. All wooden packaging and forest produce must be certified as being free from infestation by insects and fungi. Dutiable goods or goods whose importation is restricted, should not be packed in the same package or container as non-dutiable or unrestricted goods.
Special certificates
Live animals and animal products must be accompanied by health certificates issued by the approved authority in the country of origin. In Australia this is usually the Australian Quarantine and Inspection Service (AQIS), Commonwealth Department of Agriculture, Fisheries and Forestry-Australia, or relevant state department of agriculture. An export certificate from the appropriate authority in country of origin is also required.
Carcass meat and meat products require:
- A certificate issued by the approved authority in the country of origin testifying that the country of origin is free from foot and mouth disease and rinderpest for six months prior to the export of the goods.
- A meat inspection certificate testifying that the meat or meat products were derived form animals subjected to ante- and post-mortem examinations and found free from infectious and contagious disease, that the products for export to Singapore are fit for human consumption and every precaution has been taken to prevent contamination prior to export.
- Health certificates signed by AQIS must accompany imports of poultry and poultry processed products. Australian establishment has to be registered and must be approved by the Singapore Agri-Food & Veterinary Authority (AVA).
Mushroom spawn and compost require a phytosanitary certificate issued by the approved authority in the country of origin.
Whisky or brandy requires a certificate of age issued by the approved authority in the country of origin, stating that it has been stored in wood for at least three years. Details of minimum alcoholic strength may be required.
An import and delivery verification certificate (IDVC) is required for products which are subject to foreign export control (see 'Import restrictions').
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Methods of quoting and payment
Quotes preferably in US dollars or Australia dollars, CIF (Incoterms 1990). Secured payment terms are initially recommended.
Suppliers not wishing to reveal the commission of local agents should include such commission in the quotation.
Payment by letter of credit should indicate the appropriate Trade Registration Number. |
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Documentary requirements
Pro-forma invoice
Used for the opening of payment terms. Three copies are required.
Bill of lading/Airway bill
Two copies are required. To Order bills are acceptable.
Packing list
Two copies are required.
Certificate of origin
Two copies are required. The invoice must show:
- number and description of packages
- marks and numbers of individual packages
- a detailed description of the goods
- gross and net metric weights or quantity - FOB and CIF values (Incoterms 1990)
- country of origin
- place of shipment and destination of the goods
- must be signed by the exporter or shipper
Certificate of origin must be completed for goods on which preference is claimed. The certificate of origin must contain:
- a description of the goods
- details of their total invoice value
- a signature of the proprietor, a partner or principal official of the manufacturing or supplying firm (the name of the person signing and their position in the firm must be stated)
The following supporting statements must be supplied:
- that the person signing has the means of knowing the statement in the certificate to be correct
- that the person signing is duly authorised to issue the certificate on behalf of the manufacturer, producer or grower and, if appropriate, the supplier
- that the goods are the produce of manufacturer of the Commonwealth country named
- if grown or produced, the goods were grown or produced in and consigned from named Commonwealth country or countries
- if manufactured, not less than 25 per cent of the goods is the result of either labour or the use of materials originating in the named Commonwealth country or countries.
Public health requirements
Animals require prior permits from the Singapore Agri-Food & Veterinary Authority (AVA) and are subject to quarantine examination on arrival (see also 'Special certificates').
Plants for propagation require an import permit issued by the (AVA). The import of plants with soil attached is prohibited from all sources.
Imports of fat of animal origin (edible or inedible), or products containing such fat, require a prior permit from the Director of the AVA (see also 'Special certificates' below).
Imports of chemicals are subject to requirements as regulated by the Ministry of Environment. The import of pharmaceuticals including devices is subject to approval form the Health Sciences Authority.
All imported drugs are subjected to mandatory inspections.
Fresh fruit and vegetables are subject to random inspections for pesticides and chemicals by the AVA.
Censorship regulations
Printed matter (including advertising posters and catalogues) and films are subject to inspection and approval by the Ministry of Information and Arts (Licensing Section).
Documentation fees
Fees are payable on transshipment declaration on through bills of lading for goods in transit. Other small fees are payable for the processing of documents.
Weights and measures
The metric system
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Taxation
Since the beginning of 2004, the consumption tax levied on most goods and services (GST) has been increased from four per cent to five per cent. Singapore has low company and personal taxation rates. Other forms of taxes include property, entertainment, customs duties, estate duties, etc.
A goods and services tax (GST) of five per cent, assessed on the landed duty-paid value, is levied on all imports.
Excise taxes are levied on a few items including alcoholic beverages, tobacco products, petroleum products and motor vehicles.
Within the Ministry of Finance, the Inland Revenue Authority of Singapore (IRAS) acts as the agent of the government and provides service in administering, assessing, collecting and enforcing payment of taxes. IRAS also advises the government and represents Singapore internationally on matters relating to taxation.
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