Maritime Sector Incentive (MSI) - Shipping-related Support Services (MSI-SSS) Award
The MSI-SSS awards are aimed at promoting the development of ancillary shipping service providers and encouraging shipping groups to set up their corporate services functions in Singapore.
Approved MSI-SSS companies will enjoy a reduced tax rate of 10% on incremental income derived from the provision of the following eligible approved shipping-related support services for a period of 5 years, renewable:
- Ship brokerage;
- Forward freight agreement trading;
- Ship management;
- Shipping agency;
- Freight forwarding and logistics services; and
- Corporate services to eligible affiliates engaged in shipping-related activities.
Who is eligible
Applicants with a good track record and a demonstrable business plan for ancillary shipping activities in Singapore can apply for the MSI-SSS award on or before 31 December 2026.
Applicants must be able to demonstrate in their business plan how providing ancillary shipping activities will contribute economically to Singapore through total business expenditure, additional activities undertaken in Singapore, and number of professionals employed.
How to apply
Contact us for more information.