To continue to facilitate and develop international trading activities, IE Singapore launched the Global Trader Programme (GTP) in June 2001. The GTP is a merger of the Approved Oil Trader (AOT) and the Approved International Trader (AIT) programmes.
The programme encourages global trading companies to use Singapore as their regional or global base to conduct activities along the total trade value-add chain from procurement to distribution, in order to expand into the region and beyond.
Over the years, the programme has attracted a vibrant cluster of global trading companies to hub their strategic business functions in Singapore. These companies are key players in their respective industries such as oil trading, petrochemicals, agri-commodities and metals.
Companies who qualify for the GTP will enjoy a
concessionary tax rate of not more than 10% on offshore trading income from qualifying commodities and products.
Depending on each company's trade volume and business plan, we are able to
negotiate for a concessionary tax rate of less than 10% on your behalf.
Companies which are well-established international players in their industry and responsible for international trading, procurement, distribution and transportation of qualifying commodities and products may be considered for the GTP. The applicant is expected to use Singapore as the nerve center for its principal offshore trading activities in the region, and a whole range of business activities and support functions, where relevant, including:
(a) General and administrative management control;
(b) Business and investment planning and coordination;
(c) Financial control and treasury functions;
(d) Market development and planning; and
(e) Logistics management including warehousing and freight services.
The applicant must be a well-established player with worldwide networks, a good track
record and must:
(a) Conduct substantial offshore trading activities on a principal basis;
(b) Incur a significant amount of directly attributable local business spending; and
(c) Employ a commensurate number of experienced trading professionals in Singapore.
In addition, the applicant is expected to:
(d) Make significant use of Singapore's banking and financial services;
(e) Make significant use of Singapore's ancillary services such as trade and logistics services, and trade institutes and trade arbitration services; and
(f) Contribute to manpower training and development of trading expertise in Singapore.
Qualifying Commodities & Products
The list of qualifying commodities and products under the GTP will be reviewed periodically. It currently includes:
(a) Energy commodities and products;
(b) Agricultural commodities and bulk edible products;
(c) Building and industrial materials;
(d) Consumer products;
(e) Industrial products;
(f) Machinery components;
(g) Minerals; and
(h) Electronic and electrical products.