Outline
In short: To set up a shipping or marine company in Singapore, you incorporate a private limited company, register your vessels with the Singapore Registry of Ships (SRS), and get the Maritime and Port Authority (MPA) licences your operations need. A company that is more than 50% foreign-owned can register ships if it has at least S$50,000 in paid-up capital and the ships are self-propelled and at least 1,600 GT. Eligible shipping companies can apply for MPA’s Maritime Sector Incentive. Paul Hype Page incorporates the company for S$800 plus the S$315 ACRA fee.
Step 1: incorporate the company
Register a Singapore Pte Ltd with at least one locally resident director and a company secretary. Choose SSIC codes for shipping or ship management. Incorporation is S$800 plus the S$315 ACRA fee, and our setup package bundles the main setup services (ask us what it includes). Founders can sign documents remotely.
Step 2: register your ships with the SRS
| Foreign-owned company (more than 50% foreign equity) | Locally owned company | |
|---|---|---|
| Paid-up capital | At least S$50,000 | At least S$50,000 (tug and barge owners: 10% of the first vessel’s value or S$50,000, whichever is lower, minimum S$10,000) |
| Vessel | Self-propelled, at least 1,600 GT (the Registrar can waive this for vessels based in Singapore) | No GT minimum |
| Ship age | Normally under 17 years; older ships only if the Registrar is satisfied | Same |
Step 3: MPA licences and permits
Depending on operations: a harbour craft licence (vessels working in port), port clearance (departures), a launch permit (new vessels over 15 m), and crew certification. Ship radio licences are issued by IMDA. Apply on MPA’s and IMDA’s own portals. For other business licences, see our licences guide.
Step 4: tax incentives
MPA’s Maritime Sector Incentive (MSI) includes tax exemption on qualifying shipping income for approved international shipping enterprises (MSI-AIS) and concessionary rates for approved ship management, shipping-related support and leasing companies. Awards are at MPA’s discretion, based on the business plan and spending in Singapore.
How Paul Hype Page helps
We incorporate your company, act as corporate secretary (S$600 a year), handle accounting (S$1,200; excludes corporate tax filing) and help with a corporate bank account (S$1,500). Expanding overseas? EnterpriseSG’s EDGE grant supports overseas expansion, but it needs 30% local shareholding.
Paul Hype Page has helped more than 2,000 companies set up in Singapore since 2008.
FAQ
Can a foreign-owned company register a ship in Singapore?
Yes. It needs at least S$50,000 paid-up capital, and the ship must be self-propelled and at least 1,600 GT, unless the Registrar waives this for a vessel based in Singapore.
How old can a ship be to register in Singapore?
Ships under 17 years old are normally accepted. Older ships are accepted only if the Registrar is satisfied with their condition.
Do I need a licence to start a shipping company in Singapore?
Incorporating doesn’t need one, but operating vessels in port needs MPA licences such as a harbour craft licence and port clearance.
What tax incentives do shipping companies get in Singapore?
MPA’s Maritime Sector Incentive can exempt qualifying shipping income or give concessionary rates to approved companies.
Questions about your company? WhatsApp us or contact us. Free EP eligibility check, and you can sign documents remotely.
Related company registration services
A shipping or marine business in Singapore starts with incorporating a private limited company. See our company registration services.
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