Maritime Sector Incentive - Shipping-related Support Services (MSI-SSS) Award

The MSI-SSS award seeks to promote the growth of ancillary shipping service providers and to encourage shipping conglomerates to set up their corporate services functions in Singapore.

Benefits

An approved MSI-SSS company will enjoy a concessionary tax rate of 10% on the incremental income derived from the provision of the following qualifying approved shipping-related support services for a 5-year renewable period:-

  • Ship broking;
  • Forward freight agreement (FFA) trading;
  • Ship management;
  • Ship agency;
  • Freight forwarding and logistics services; and
  • Corporate services rendered to qualifying approved related parties who are carrying on business of shipping - related activities.

Who is eligible

Applicant with a good track record and demonstrable business plan in respect of its ancillary shipping activities in Singapore may apply for the MSI-SSS award on or before 31 May 2021.

Applicant must be able to demonstrate in its business plan how the provision of the ancillary shipping activities will generate economic contributions in Singapore through total business spending, undertaking additional activities from Singapore and number of professionals employed.

How to apply

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