IOR Services in Singapore

Singapore, the Island country, is considered one of the busiest and largest ports in the world.?Singapore’s?economy largely relies on?international trade?and finance. All shipping activities and?import processes?are administered by the consigned authorities present there. As the port is constructed with a network of well-developed roads and highways, it plays a key role in the success of?trade and shipping products.

Importing?and?deploying?hardware products onsite internationally is a difficult task.?TLS Technology?gathers?all your IT?equipment?and ships them all over the world including the Republic of?Singapore.?Singapore?is an ideal place for businesses, to expand the digital infrastructure?internationally, as it offers the greatest number of interconnects and?data center?locations.

????????????Requirements for importing goods to Singapore

Like every country,?Singapore?has some standard trade rules that should be followed by every supplier. One of them is having all the needed documents and certificates to make the process simple and seamless.

The requirements that are to be followed for shipping include:

·?????????GST:

All the products that are being imported are bound to the Goods and Services Tax (GST), but that depends on what type of products you are shipping.?TLS Technology?will also find out if you will need to pay GST and duty payments for your specific products or not.

·?????????Custom Permits:

Your business should be registered with the Account and Corporate Regulatory Authority (ARCA) before the importing process starts. Or, you can also get the appropriate Unique Entity Number (UEN) from a UEN agency and activate your customer account. An?IOR services provider?will then be able to apply for a custom permit on your behalf, which declares the shipment and accounts for applicable fees and dues.

·?????????Controlled Goods:

After getting the UEN number, you have to check if your goods lie in the category of controlled goods. It will be reviewed whether your products are subjected to restrictions by the competent authorities of Singapore or not. Checking for controlled goods is a lengthy procedure that will be efficiently carried out by?TLS technology.

·?????????Interbank GIRO:

An interbank GIRO (IBG) with Singapore customs should be maintained by you or your?IOR provider. This step will help you pay all the duties, taxes, and fees from your bank account to?Singapore Customs straight.

·?????????Offer Security:

You’ll be asked to provide security in the form of a Bankers guarantee or Finance guarantee for all products including dutiable goods and goods that are being imported for approval purposes or any licensed warehouses etc.

·?????????Cargo Clearance Permit:

When applying for a custom permit, you’ll be asked to provide the container number and shipper seal number. While importing by land or air, along with a copy of the customs permit, you’ll also be asked by checkpoint officers to provide an invoice packing list and air waybill/consignment note for clearance. But in the case of imports by sea, you do not need these documents. TLS Technology takes good care of all your requirements and finds out which documents your business needs.

·?????????Trade Documents:

All your trade-relevant documents should be retained for 5 years from the date of permit approval so that you can present these documents to Singapore customs when asked.

?TLS Technology as an IOR provider

TLS Technology as an IOR provider?acts as a supporting entity in Singapore for your business so it can transfer your imports/exports conveniently. It covers everything from preparing documents to getting permit approval and paying all duties and taxes. TLS, with its extremely reliable and trustworthy services, has assisted many customers with their networking goods,?IT equipment, telecom, and satellite equipment in Singapore. All your equipment is shipped on time and up-to-date without you getting involved in the lengthy process.