10 Important Singapore Government Agencies help you Grow Your Business

Singapore could be your investment destination since it’s located in the heart of Asia, with China and India as regional markets. It has a thriving trade and a robust financial sector, a pro-business environment, a skilled workforce, and advanced infrastructure. What more, its e-commerce market is around $5 B, presenting huge opportunities for investors. 
But how can you navigate the uncharted investment waters in Singapore? You need Singapore government agencies to help you throughout the whole process of setting up your warehouse and business. In this article, you’ll learn about how Singapore agencies can assist you to settle down in your business. 

Accounting and Corporate Regulatory Authority (ACRA)

Thinking of starting a business in Singapore? ACRA is your first port of call because it’s where everything about your company registration starts. It is involved in business registration, financial reporting and audit, and corporate governance.
As a Singapore government agency, it aims to make the registration of your company as straightforward as possible. It wants your business to thrive and be successful in Singapore.
ACRA offers new businesses a dedicated online filing and information Portal, BizFile, on which you can register your entity. With BizFile, you can find plus 400 electronic services to help start-ups like yours with submitting government documents.
On ACRA’s BizFile portal, you can also learn about the essential steps of registering your organization. The online platform will show you what you must do to fulfill the government’s requirements.
Other brilliant services that ACRA offers you are:
* Specialized advice on what business you can start in Singapore. It’s quite helpful especially for investors who’re unfamiliar with Singapore’s business environment
*  Providing some legal information and localized domain, e.g. com. sg or .sg through Singapore Network Information Center (SGNIC). It’s a center that makes it easy to create and register your company without a hassle.
You can get several benefits by registering your business with ACCRA, such as:
*  Customers can find your new business with ease and gain trust in your brand
* Take part in government tenders and get intellectual property and patents for your new products
* Know types of government funding that can jumpstart your business

 Urban Redevelopment Authority (URA)

Before you set up or build a factory or warehouse, you need to know about land zoning in Singapore. URA is the national land use and conservation agency and helps you with the proper sites for your business structure.
The agency has a government Master Plan document that divides commercial land into Business 1 and Business 2 land zones. You can establish a manufacturing workshop or warehouse in these two zones. 
If you’re considering building a factory, the Master Plan says your structure must be 5m from the road or 15 m from the expressway. Make an appointment with the URA officer via fax or email before you send in your development application.
On URA’s website, you’ll find a memo to book your appointment. 

Building and Construction Authority (BCA)

The government of Singapore formed BCA on 1 April 1999 to develop and supervise Singapore’s building and construction industry. It ensures that companies build safe and environmentally-friendly structures. 
Here are some of the services you can expect to receive from URA:
* Develop skills and technical knowledge for shaping the best environment
* Okays building and structural plans
* Ensures businesses meet all the construction laws at sites and fulfill safety standards
* Issues permit to start work, temporary permits to occupy a building, and certificates upon completing a structure
* Reviews building, laws, and codes to make buildings energy-efficient, free of barriers, etc.
Note that before you start constructing any building, BCA needs to see, approve your plans, and then give you a permit. Once you’ve completed your structure, it must pass the Green Mark Level for new buildings.

Singapore Economic Development Board (EDB)

EDB operates under the Ministry of Trade and Industry to boost Singapore’s economic growth. It has a huge network and know-how to assist companies wanting to invest in the country. 
The agency will provide you with business info, link your company with key partners, and also help you access government incentives. Some help you can get from this Singapore government agency is as follows:
* Find the most profitable business niche or market
* Know the up-and-coming industries
* Get a list of investment programs and schemes for start-ups and newly incorporated companies
* Access to a list of government-supported industries
* Fast-track help with the Singapore Resident (PR) application for investors
* Advice on international business growth opportunities in Singapore
As an investor in Singapore, you can expect your business to enjoy several investment schemes, including;
* Special situation fund for start-ups (SSFS)
* Pioneer Certificate Incentive (PC) and Development & Expansion Incentive (DEI)
* Financial & Treasury Centre (FTC) Incentive, and much more

MTI The Ministry of Trade and Industry

Singapore’s Ministry of Trade and Industry is pro-business and focused on driving economic growth. If you’re thinking of starting a business in Singapore, you’ll find MTI supportive and helpful.
New businesses can expect to operate in a vibrant and less government-regulated economy. After all, MIT seeks to attract investors like you to develop a successful economy for everyone. 
MIT has several ways to help you hit the ground running, including:

Improving Trade

The Ministry of Trade and Industry supports international trade, meaning that you can get involved in imports/exports. It encourages a free flow of goods and services with few or zero restrictions. 
As your potential investment destination, Singapore is part of the regional forums. They include APEC, ASEAN, and ASEM that’ll give you lots of business opportunities. 

Transforming Enterprises

The government of Singapore is committed to ensuring that enterprises realize their goals. It does this in the following ways:
* Provides resources for business to use trending and cutting-edge technology
* Sets easy to follow rules and regulations that are pro-businesses
* Works hand in hand with enterprises to improve the rules and the licensing laws
* Simplify the registration of new businesses
* Reduce red tape and costs for complying with government policies

Trade Associations and Chambers & Unions

MIT supports trade associations & chambers and unions as they help every company scale the heights of success. It sees labor unions as part and parcel of the change agenda.
Besides, MIT is working hand in glove with Enterprise Singapore to make sure that businesses are innovative and take part in global trade. 

Industries

Singapore’s Ministry of Trade and Industry seeks to create vast opportunities for the success of different industries. Choosing Singapore as your investment destination has several benefits, such as;
* Singapore is at the heart of Asia, a continent with lots of business opportunities
* The ASEAN, China, and Indian present a huge market for startups or investors like you
* The middle class is growing by leaps and bounds, a huge market that you can tap into
* Business opportunities exist in infrastructure and urban solutions to drive regional growth
* The digital economy has untapped and limitless investment areas

Enterprise Singapore

Like other Singapore government agencies, Enterprise Singapore is there to support your business’ growth and development. It has tailored-made programs to assist businesses regardless of where they’re in their growth.
Enterprise Singapore will make sure that your products or services meet national standards to build trust locally and improve their quality. Here are some of the excellent services you’ll get from this agency:
* A one-stop platform to access loans, grants, insurance tax incentives, financial assistance
* Providing start-up hubs and business toolkits
* Networking transfer sessions for companies through working with trade associations & chambers
* Promoting Singapore’s safety standards on goods and services
* Building, innovating, and working with international businesses

Singapore Customs

If you’re into imports and exports of goods, Singapore Custom is the right government agency for you. It handles all international trade permits.
When it comes to imports, there are four ways in which goods enter Singapore. They include:
* Direct Entry (Pay Duty and GST tax)
* Free Trade Zone
* Zero GST Tax Warehouse
* Licensed Warehouse
Let’s dive into the last three.

Free Trade Zone (FTZs)

Free Trade Zones are areas that Enterprise Singapore has earmarked for keeping goods for a specified time. If your products are in the FTZs, they don’t pay taxes and duties. 
You’ll only pay customs duty and other necessary taxes when you take the products out to the local market from the FTZ. 
Another thing to note is you can also store non-dutiable goods in FTZs as long as you want to transship or re-export them. Some useful issues to consider about FTZs are:
* Let you store goods that pay duty excluding liquor and tobacco products
* It’s possible to repackage, sort, and re-condition your merchandise (need to get permission from Singapore Customs first)
* Goods that companies make in FTZs also don’t pay GST if they’re for re-exports
FTZs help with entrepôt trade and transshipment of cargo at the port & offer;
* Free 72 hours storage for containerized and regular cargo that you want to import/export 
* Free 140-day storage for transshipment or re-export of goods

Licensed Warehouses

You can use Licensed warehouses for imported products that pay customs duty, such as liquor and tobacco. FTZs or Zero-GST warehouses can’t allow you to store these goods.
When your products are still in Licensed warehouses, they don’t pay duty and taxes. But when you take them out of the storage facility, you’ll have to fork out taxes.
Manufacturers, wholesalers, or private warehouse operators run Licensed warehouses. But if you’re looking to convert the whole or part of your warehouse into a licensed storage facility, you need to pay a license fee to Singapore Customs. 
You can apply for the license through the Licensed Warehouse Scheme (LWS).

Zero-GST Warehouse

Are you a dealer of non-dutiable commodities, including crude oil & petroleum products, coffee, pepper, rubber, and base metal? The Zero-GST warehouse is the proper place for keeping these products. 
The Singapore Customs authority suspends the payment of Goods and Services (GST) on goods as long as they’re in Zero-GST Warehouse. Your products will pay tax if you ship them out for sale to local buyers.
Also, note that if you move goods from one Zero-GST Warehouse to another, there’s zero GST tax. If you also want to make your existing warehouse a Zero-GST Warehouse, you can pay a license fee to Singapore Customs.

Inland Revenue Authority (IRAS)

Anything that has to do with the Singapore tax needs of your business, IRAS is where to go. The Singapore government agency deals will all forms of tax, such as;
* Personal income taxes
* Corporate taxes
* Withholding taxes for non-resident businesses
* Goods and Services Tax (GST)
* IRAS also offers useful information on:
* Other types of taxes for people who live and work in Singapore
* Property taxes
* Shareholding
* Clubs and Charities
* Tax schemes, for example, double tax treaties, the productivity, and innovation scheme, etc.
Also, IRAS is in charge of the specialized warehouse scheme (SWS). What is a Zero-GST Warehouse Scheme (ZGS)?
With a Zero-GST Warehouse Scheme, you can keep goods that don’t pay customs duty for a non-specified time. Singapore Customs has set aside an area where you can store these non-dutiable products. 
The pro of this arrangement is you won’t pay GST on your imports as long as you keep them in the selected storage facility. But when you take them out for sale in the local market, GST will now apply. 
You also won’t pay GST when you export your products or sell or supply them whilst they’re in the warehouse. 
If you think you need this service for your business in Singapore, take note of these issues: 
* Register for GST with the Inland Revenue Authority of Singapore (IRAS)
* Your customs account must be valid
* You must have a license for your premises to run as a warehouse with all the security measures in place

Singapore Ministry of Manpower (MOM)

Your other must-know Singapore government agency is the Ministry of Manpower. It sorts out all your employment-related issues and is the agency that you liaise with for work visas, namely:
* Employment Pass (EP)- experienced professionals, executive staff, and managers qualify for this permit
* S.Pass- is for mid-level skilled employees
* A personalized Employment Pass is the right visa for a worker who isn’t attached to any employer. Examples include EntrePass, Multiple Journey Business Visa, Work Holiday Pass, and Miscellaneous Pass.
* Work Permit- which laborers and domestic workers can apply for
MOM is also responsible for approving applications for Dependents Pass and Long-term Visa Passes for Singapore family members’ work visa holders. 
Be aware that as you register your company, you must apply for the proper visa. Anyone who wants to work in Singapore needs to get a visa first.
Apart from handling visa applications, MOM is also in charge of workplace safety and health regulations. It sees that businesses abide by the Work Injury Compensation Act, the Workplace Safety and Health Act, and more. 

National Environmental Agency/Public Utilities Board (NEA)

NEA as one of the Singapore government agencies is your one-stop agency that clears:
* Industrial allocation/Land use applications
* Development Control (DC) plans
* Building/Detailed Plans (BP/DP)
It deals with environmental issues like pollution control, environmental health, and sewerage, sanitary & drainage issues. Its Central Business Plan Unit (CBPU) will screen and check for pollutants and other harmful substances to the environment. 
The agency encourages businesses to use production processes that don’t harm the environment and people’s health. 
In conclusion, investing in Singapore is hassle-and red tape-free. As an investor in this thriving country, you can expect supportive help from Singapore government agencies. They’re there to make sure you hit the ground running and scale the heights of success. You’ll find a pro-business environment.