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.
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 firstname.lastname@example.org for more information.
- Setting Up in Singapore
- Setting Up Your Maritime Business in Singapore
- Applying for Employment Passes
- Registering a Ship
- Programmes to Support Your Maritime Business
- Maritime Sector Incentive - Approved International Shipping Enterprise (MSI-AIS) Award
- Maritime Sector Incentive - Maritime Leasing (MSI-ML) Award
- Maritime Sector Incentive - Shipping-related Support Services (MSI-SSS) Award
- Withholding tax ("WHT") exemption on interest and related payments made in respect of loans obtained to finance the purchase or construction of ships
- Withholding tax ("WHT") exemption on interest and related payments made in respect of loans obtained to finance the purchase of containers and intermodal equipment
- Developing Manpower
- Developing Infocomm Technology Capability
- Research & Development
- Grants and Incentives
- Latest Happenings
- Industry Partnerships
- Innovation Showcase