How to Start an Import/Export Business in Singapore? Here's a Practical Guide!

How to Easily Set Up an International Trading Company in Singapore A Detailed and Practical Guide

Singapore has long been one of the world’s most competitive business hubs. With its stable economy, strategic location, efficient logistics network, and low tax rates, it continues to attract international businesses from around the globe. For those involved in international trade, Singapore is not just a bridge between East and West-it’s a powerful springboard for global business expansion.

So, how can you set up a trading company in Singapore with ease? This guide will walk you through the entire registration process, share practical tips, and keep you updated on the latest policy changes, helping you take your first confident steps into entrepreneurship.

1. Why Set Up a Trading Company in Singapore?

In recent years, as the Southeast Asian market continues to heat up, more and more small and medium-sized enterprises SMEs and individual entrepreneurs have turned their eyes toward Singapore. According to data released by Enterprise Singapore in 2025, the number of newly registered trading-related companies increased by 18% year-on-year, with over 30% coming from mainland China and Southeast Asian countries.

Here are the key reasons why Singapore is a top choice for setting up a trading business

Competitive Tax Rates Corporate income tax tops out at just 17%, with the first S$100,000 of annual profits enjoying tax exemption.

Strategic Location Positioned at the heart of Asia’s shipping routes, Singapore connects major economies like China, India, and ASEAN nations.

Well-Developed Financial System Easy access to banking services, free capital flow, and multi-currency support.

Strong Government Support Generous startup grants, tax incentives, and training programs.

Transparent and Efficient Business Environment Digitalized registration process and efficient government services.

2. Basic Steps to Set Up a Trading Company in Singapore

Step 1 Choose Your Company Structure and Name

The most common structure for foreign entrepreneurs is a Private Limited Company Pte Ltd. It offers limited liability protection and is ideal for international trade operations.

Before proceeding, check the availability of your desired company name on the ACRA Accounting and Corporate Regulatory Authority website to ensure it hasn’t already been taken.

Step 2 Prepare Required Documents

To register your company, you’ll need

A unique company name

A local Singapore address can be a virtual office

At least one director aged 18 or above can be a foreigner

Shareholder details individual or corporate

A company secretary

A minimum paid-up capital of S$1

A description of your business activities based on the standard industry classification

Step 3 Submit Your Registration Application

You can submit your application online via ACRA’s BizFile+ system. In most cases, registration is completed within one working day. Many entrepreneurs choose to use a company registration agent, which can save time and reduce the risk of errors.

Step 4 Open a Corporate Bank Account

After your company is registered, the next step is to open a corporate bank account. Singapore’s major banks-DBS, OCBC, UOB, and others-are generally open to serving international trading businesses.

Prepare the following documents

Certificate of Incorporation

Director’s ID and passport

Company constitution

Business plan some banks may require this

Step 5 Apply for Relevant Licenses and Permits

If your trading business involves regulated goods such as electronics, food, or medical devices, you’ll need to apply for specific licenses

Food Imports Apply with the Singapore Food Agency SFA

Electronics Certification from the Infocomm Media Development Authority IMDA

Pharmaceuticals or Health Supplements Apply through the Health Sciences Authority HSA

It’s highly recommended to consult a professional advisor before registration to ensure full compliance.

3. Practical Tips and Key Considerations

Leverage Government Support Programs

Singapore offers several initiatives to help startups reduce costs and grow

Startup Tax Exemption STAR Scheme Significant tax relief for the first three years

International Market Access IMT Subsidies for overseas market expansion

Enterprise Innovation Programme EIP Encourages digital transformation

Make sure to explore and apply for these programs early on.

Choose a Reliable Registration Agent

If you're new to Singapore, a good registration agent can make a big difference. They can assist not only with incorporation but also with ongoing tasks like company secretary services, annual filings, and tax submissions. Look for agents with good reviews, clear pricing, and comprehensive services.

Secure a Local Address and Company Secretary

By law, every Singapore company must have a local registered address and a qualified company secretary. Many agents offer virtual office and secretary services at affordable rates-ideal for budget-conscious startups.

Plan Your Tax Structure Carefully

Although Singapore’s tax system is favorable, it’s still important to plan your tax strategy wisely. Hiring a professional accountant can help you manage tax filings, profit repatriation, and avoid unnecessary risks.

Adopt Digital Tools for Efficiency

Singapore is pushing hard for digitalization, and many business processes can now be done online

e-Annual Returns via ACRA

e-Filing for taxes via IRAS

Online customs declaration via Singapore Customs

Using tools like Xero or QuickBooks can also help streamline your financial management.

4. New Trends Cross-Border E-commerce and Digital Trade

In 2025, cross-border e-commerce continues to grow rapidly, and Singapore has become a key logistics and trade hub for Southeast Asia. According to data from platforms like Lazada and Shopee, cross-border orders in the region increased by over 30% in the first half of 2025.

If you're considering entering the e-commerce space, here are some tips

Partner with local logistics providers to improve delivery speed

Use Google Ads or Facebook Ads for targeted marketing

Understand local consumer preferences and adjust your product strategy

Set up multiple local payment gateways to enhance customer experience

5. Conclusion

Setting up a trading company in Singapore doesn’t have to be complicated. With the right approach, you can get your business up and running smoothly. Whether you’re an individual entrepreneur or a small business, Singapore offers the perfect mix of policy support, global connectivity, and a business-friendly environment.

We hope this guide has given you a clear and practical roadmap to start your trading business in Singapore. With the right planning and execution, you're well on your way to building a successful international enterprise in one of the world’s most dynamic business hubs.