• Singapore Government Funding and Incentives for Entrepreneurs

The Singaporean government has been promoting entrepreneurship among Singapore's citizens through grants, funding, and tax incentives. Entrepreneurs in Singapore may receive loans and tax breaks through these government initiatives.

General Tax Incentives for Singapore Businesses

An overview of the tax schemes and incentives extended by the Government to all Singapore companies.

Market Readiness Assistance (MRA) Grant

A guide to the MRA grant that encourages companies to expand globally.

Singapore’s Global Trader Programme

An overview of the Global Trader Programme in Singapore that is designed to attract large trading firms and the basic requirements to qualify for it.

Startup funding sources in Singapore

A guide to the various government and private funding sources available to entrepreneurs and companies in Singapore.

Guide to Singapore Government Funding and Incentives for Entrepreneurs FAQs

What is so interesting about PIC Bonus?2020-07-01T10:35:47+08:00

The PIC Bonus will give you business a matching dollar-for-dollar cash bonus for the YAs 2013 to 2015, a total combined cap up to $15,000. The PIC Bonus is given in addition to the 400% tax allowances/deductions and the 60% cash payout under the PIC scheme. If your business wants to claim the PIC Bonus, then you must have also claimed for 400% tax allowances and the cash payout option beforehand.

But the PIC bonus is taxable.

How to Claim the PIC benefits?2020-07-01T10:35:26+08:00

Everything business-related in Singapore has been made to be as “friendly” as popular for the entrepreneurs and that includes as little bureaucracy as possible. Basically, all you will have to do is submit a PIC Cash Payout Application form and a Hire-Purchase Template to IRAS. Do remember that this paperwork should prove your activity in the Productivity and Innovation fields over the course of the years 2013 to 2015.

What is PIC?2020-07-01T10:34:53+08:00

The Productivity and Innovation Credit is a funding option available for businesses who are need the money for one of the 6 main PIC goals: purchase/leasing of PIC equipment, purchasing Intellectual Property Rights, training the employees of your company, design projects (which have to be approved by the Design Singapore Council), research and development activities and, last, but not least, registering patents, trademarks, plant varieties or designs.

Basically, what this opportunity offers you with is a dollar-for-dollar bonus. When you spend, for example, S$10,000 on any of the above-mentioned PIC activities, you receive a S$10,000 bonus and a PIC cash payout of S$6,000. That makes for a total of S$16,000 in bonuses, which is extremely attractive anyway you look at it.

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