SINGAPORE

Logistic and forwarding services in Singapore

Singapore

Capital City
Singapur

Population
5,47 Mio.

National languages
Chinese, Malaysian (official), English, Tamil

Currency
Singapore Dollar (SGD)

Gross national product (GNP)
USD 297.9 Mrd.

GNP per person
USD 55’182

Financial exports to Switzerland
CHF 3619 Mio.

Financial imports from Switzerland
CHF 1’047 Mio.

Bilateral relations Switzerland–Singapore

Singapore and Switzerland maintain good relations and cooperate closely, particularly in the economic, financial and educational fields. As a result of favourable conditions, more than 350 Swiss companies are represented in Singapore. Universities in the two countries facilitate extensive student exchanges.

Economic cooperation

Singapore is Switzerland’s most important trading partner in South Asia. The signing of the European Free Trade Association with Singapore in 2003 – the first with an Asian country – caused a sharp increase in trade between the two countries.
The Swiss Business Hub (SBH) and the Swiss-Asian Chamber of Commerce in Asia provide support to approximately 350 Swiss companies in Singapore, which employ some 28,000 people in the country.
Numerous large Swiss companies, particularly software companies and banks specialising in wealth management and private banking, have a regional office in Singapore.

 

Business language

English

Dimensions and weights

Metric system, to a decreasing extent the country still uses British dimensions and weights (for customs purposes only use the metric system accurate to 3 decimal places).

Currency

National currency 1 Singapore Dollar (S $) = 100 Cents (c).

ISO code: SGD

 

Customs tariff

Harmonised system, customs clearance based on the transaction value.

Import control

A permit must be applied for in order to carry out import activities. Imported goods are divided into non-controlled goods, controlled goods and prohibited goods. Most goods fall into the category of non-controlled goods and can be freely imported by those with a general licence. The controlled goods must be registered with what are known as Competent Authorities (CA) and approved.

Foreign currency control provisions have been fully liberalised.

Foreign currency can be allocated by authorised commercial banks on provision of the licence or on the basis of the OGL list.

Certain customs regulations must be complied with for goods which are subject to customs duties that are imported for trade fairs but intended for re-export. The texts are available from the Chamber of Industry and Commerce.

Standard VAT rate: 12%

Terms of payment and tenders

Irrevocable, confirmed letter of credit or collection basis. Tenders and invoices in EUR, GBP or USD CIF Singapore.

Designations of origin

“Made in …” is required if the origin of the goods is misleading for example due to the English name on labels.

 

Marking/labelling

Standard marking with an indication of the country of origin.

Goods including cosmetics, pharmaceuticals, fertilisers and foods are subject to special labelling regulations. More information can be obtained from the importer.

 

Packaging

Seaworthy packaging, stable. Hot, humid climate. Special definitions for container transport. Ask the freight forwarder.

 

Product samples

Product samples up to a total value of USD 400 can be imported duty free. The standard securities are required for goods which are temporarily imported (for up to 6 months). ATA Carnet procedure applicable.

 

Shipping and accompanying documents

Standard and:

a) 3 commercial invoices in English with all standard information including FOB and CIF value, gross and net weight, country of origin etc. uncertified.

b) Certificates of origin, 2 copies, where required. As the origin, indicate “Swiss” in the case of Swiss goods, or “European Union” for goods originating from UE.

c) Bills of lading uncertified. Order bills of lading are permissible with an indication of a notify address.

d) Postal packages up to 31.5 kg: 1 international dispatch note, 1 customs declaration in English/French.

e) Packing lists: to be included with a detailed indication of the contents in accordance with the harmonised system nomenclature.