Branch Office in Singapore — Import / Export & Trading Formation Guide
Choose a jurisdiction with strong logistics infrastructure, favorable customs agreements, and access to major trade blocs (like the EU or US). Consider VAT deferral schemes and free trade zones.
Last verified: June 13, 2026
Corporate Tax
17.0%
State Tax
0.0%
Formation Cost
$245
Annual Fee
$47
Forming a Branch Office in Singapore as a Import / Export & Trading means a total tax burden of 17.0% and an official formation cost of $245. There is no minimum capital requirement. Standard formation takes 3-5 business days, or 1-2 business days expedited. No local director is required; the process can be managed remotely. This guide covers the steps, tax breakdown, banking options, and compliance requirements — all from verified data.
First-year total cost
≈ $3,135
Ongoing (per year)
≈ $2,945
Why Branch Office for Import / Export & Trading?
A business model focused on sourcing goods from one country and selling them in another. Success relies heavily on supply chain efficiency, customs compliance, and navigating international trade tariffs.
Ideal for
- Physical product brands
- Wholesalers and distributors
- Dropshippers scaling to bulk inventory
- Cross-border B2B traders
Challenges to watch
- Complex customs and import duties
- High shipping and logistics costs
- Cash flow management due to inventory delays
- Regulatory compliance across multiple jurisdictions
Key decision criteria
- Proximity to major ports or logistics hubs
- Availability of Free Trade Zones (FTZs)
- VAT and sales tax registration requirements (e.g., EORI in the EU)
- Double taxation treaties between sourcing and selling countries
Branch Office formation requirements
Minimum capital
None
Standard timeline
3-5 business days
Expedited timeline
1-2 business days
Local director
Not required
Registered office
Virtual office allowed
Notarization
Required
Must appoint at least one local authorized representative who is ordinarily resident in Singapore (Citizen, Permanent Resident, or Employment Pass holder).
Estimated breakdown (based on avg. $1,000,000 revenue)
Simulate with your own revenue →
VAT / Sales Tax
Standard rate 9%. Registration threshold: 1,000,000 SGD. Overseas vendors must register for GST under the Overseas Vendor Registration (OVR) regime if their global turnover exceeds SGD 1 million and B2C digital services to Singapore exceed SGD 100,000.
Banking & payments for Import / Export & Trading
Opening a corporate bank account for a branch office can be moderately difficult and usually requires a face-to-face meeting with at least one authorized representative or director. Traditional banks have strict KYC/AML procedures, but fintechs like Aspire or Wise offer fully remote onboarding options.
Supported payment gateways
Remote-friendly accounts
Aspire
A highly popular fintech platform for Singapore startups, offering multi-currency accounts and fully remote onboarding.
Wise
Excellent for multi-currency transactions and international payments with low foreign exchange fees.
Singapore incentives & advantages
Partial Tax Exemption (PTE)
75% exemption on the first SGD 10,000 and 50% exemption on the next SGD 190,000 of chargeable income.
Branch Office formation steps
Engage a registered Corporate Service Provider (CSP) in Singapore, as foreigners cannot self-register a branch office.
Prepare and notarize the parent company's corporate documents (Certificate of Incorporation, Memorandum & Articles, Register of Directors).
Appoint at least one local authorized representative who is ordinarily resident in Singapore.
Secure a local registered office address in Singapore (P.O. boxes are not permitted).
Submit the proposed branch name to ACRA for approval (must exactly match the parent company's name).
File the branch registration application and parent company documents with ACRA via BizFile+.
Receive the Unique Entity Number (UEN) and Business Profile upon successful registration.
Open a corporate bank account in Singapore to handle local operational expenses and revenue.
Register for Goods and Services Tax (GST) with IRAS if annual taxable turnover is expected to exceed SGD 1 million.
Import / Export & Trading FAQ
Do I need a company in the country I am importing to?
Not always. You can often act as a Non-Resident Importer (NRI), but having a local entity can simplify customs, VAT registration, and local banking.
What is an EORI number and do I need one?
An Economic Operators Registration and Identification (EORI) number is required for businesses importing or exporting goods into or out of the European Union.
Should I incorporate in a Free Trade Zone (FTZ)?
FTZs offer tax exemptions and simplified customs procedures, making them ideal if you plan to re-export goods without them entering the local domestic market.
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Related guides
Complete Branch Office guide
Taxes, requirements, banking, compliance
Branch Office cost calculator
One-time and annual cost breakdown
🇧🇬 Import / Export & Trading — Single-Member Limited Liability Company (EOOD)
Tax 10.0% · formation $30
🇨🇾 Import / Export & Trading — Variable Capital Investment Company (VCIC)
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🇨🇾 Import / Export & Trading — Company Limited by Guarantee
Tax 15.0% · formation $265
🇨🇾 Import / Export & Trading — Sole Proprietorship
Tax 0.0% · formation $100
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