Global Trader Programme
Details of the Programme
With a value add of S$58.75 billion in 2013 and a growth rate of 9.82% per annum between 2000 and 2013, Singapore’s wholesale trade sector is the largest contributor to Singapore’s GDP among our services sector.
The wholesale trade sector not only creates a large number of jobs, but more importantly, a spectrum of quality jobs. In fact, the wholesale trade sector provides the second most number of jobs at more than 327,000 in the services sectors in 2014. Out of these jobs, 63% are professionals, managerial or executive positions.
This sector is also a good contributor to the finance, logistics and insurance sectors. In 2014, the international trading sector incurred business spending of S$24 billion.
What Is The Assistance
The Global Trader Programme (GTP) provides a reduced corporate tax rate of 5% or 10% on qualifying trading income for three or five years. Qualifying trading income includes income from physical trading, brokering of physical trades and derivative trading income.
Who Can Apply
Singapore welcomes companies which are well-established players engaged in international physical trading on a principal basis to establish their trading base in Singapore. International physical principal trading involves having control over key decisions with regards to entering trades, exercising optionality and flexibility across the value chain to match demand and supply, manage trade flows, bear principle title and commercial risks; and employ sufficient number of employees with the necessary skills. Companies should also carry out risk management activities, have a wide trading and distribution network, and a good track record. The scheme is available to players trading a broad range of products in Singapore, including energy and chemicals, metals and minerals, agricultural commodities, consumer goods, industrial products and electronics.
To qualify for the GTP, companies must have substantial operations in Singapore and meet stringent quantitative criteria (including employment and local expenditure). Larger players with more established operations in Singapore should also perform strategic functions, such as compliance and risk management , financial, derivatives and logistics management. Companies must also be committed to make significant use of the banking, financial infrastructure, logistics, arbitration and other supporting services in Singapore as well as contribute to manpower development in Singapore.
For More Info
230 Victoria Street #10-00
Bugis Junction Office Tower
1 Fusionopolis Walk
#01-02 South Tower, Solaris,