Maritime Sector Incentive - Approved International Shipping Enterprise (MSI-AIS) Award

The MSI-AIS award seeks to encourage international ship owners and ship operators to establish their commercial shipping operations in Singapore.

Benefits

A MSI-AIS company will enjoy tax exemption on qualifying shipping income for either:

  • a 10-year renewable period; or
  • a 5-year non-renewable period, with the option of graduating to the 10-year renewable award at the end of the 5-year period,

if qualifying conditions are met.

Who is eligible

Applicant with a good track record, demonstrable business plan and a commitment to expand its shipping operations in Singapore may apply for the MSI-AIS award.

Applicant must be able to demonstrate in its business plan how the shipping operations will generate economic contributions in Singapore, which include local business spending, how it can contribute to grow local manpower expertise, the strategic or commercial decision making functions that will be undertaken in Singapore, how it will expand its shipping operations from Singapore.

How to apply

To apply, email to imc_mpa@mpa.gov.sg for more information.