According to CNA, a lot of Singaporean businesses have gone global in an effort to grow, and as a result, they export their goods abroad for marketing. The size of Singapore’s local market, which cannot support these companies’ worldwide aspirations, is a major factor in their actions. Due to the fact that target consumers are a major driving force when choosing which products to export, it is imperative to determine the right target markets for your business.
There are various laws and regulations that govern dealing with exportation of goods out of Singapore. These include the Customs Act, the Regulation of Imports and Exports Act, the Strategic Goods (Control) Act and relevant Competent Authorities (CAs), to mention a few. It is necessary to declare the items to Singapore Customs when exporting them abroad. Please take note that certain items are exempt from customs fees and the items and Services Tax (GST). To get the required export licenses and authorization (if these items are subject to control) from Singapore Customs, the following export trade process stages must be followed.
Activating a customs account and registering a UEN
To activate a Customs Account and acquire a Unique Entity Number (UEN), the organization must register with the relevant UEN issuing authorities or the Accounting and Corporate Regulatory Authority (ACRA). This is in case the organization intends to get import, export, and transshipment licenses and/or certifications, or engage in any importing or exporting operations in Singapore.
Check to see whether the products are controlled
You may do this by looking up the Harmonized System (HS) code, CA product, or description of the products. If the product is subject to limitations and control, you may want to individually inquire with your certified public accountants about their license requirements. You may wish to think about requesting an official categorization decision, which costs S$75 per product, if you want advice on the items’ whole 8-digit HS code. Please take notice that the categorization decision only applies in Singapore.
Obtain export permits from customs
You have the option to apply for customs permits yourself or on behalf of your customers. However, in order to apply for a Customs export permission or permits in your place, you must either appoint a declaring agent or register as a declaring agent. And apply for a TradeNet User ID. Applications for these permits must be made online using TradeNet. It may be accessed via TradeNet’s front-end solution from any government front-end application or authorized solution provider. The average cost of each permission application is S$2.88. If you work with a declaring agency, you may ask your designated agent about the fees associated with getting a permit. The procedure of clearing foreign customs is not simple. Because each nation has its own set of laws and regulations, businesses must follow them to avoid paying needless expenses or having their goods seized or delayed.
Getting the documents ready for cargo clearance
Approved permits would be provided along with a validity period. By doing this, the licenses’ validity would be guaranteed when the products are cleared. The Customs export authorization and the necessary supporting documentation, including the invoice, packing list, and Bill of Lading/Airway Bill, are required for both containerized and conventionalized goods. If the permission conditions state otherwise, or if the cargo is dutiable or regulated, it must also be provided to the checkpoint officials. Please be aware that you will need to provide your permit number for verification at the time of cargo loading. Both the return of imported products and the export of charged items from bonded and licensed warehouses under the Temporary Export Scheme need customs export licenses. Keep in mind that items with incomplete clearance cannot leave Singapore, especially at the Woodlands and Tuas checkpoints. For each container or freight truck, a permission application must be submitted.
Preservation of trade records
For five years from the date the customs permit was approved, you must retain all relevant supporting documentation related to the imports, exports, sales, and acquisitions of products. These papers may be saved as scanned pictures or as actual hard copies. Please be aware that you will need to provide the appropriate paperwork to Singapore Customs upon request.
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