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GOVERNMENT DEVELOPMENT ASSISTANCE PROGRAMMES
A number of assistance programmes have been established by the government and the private sector to help companies improve efficiency, strengthen capabilities and exploit new opportunities in every aspect of their business.
GOVERNMENT DEVELOPMENT ASSISTANCE PROGRAMMES 7
BUSINESS DEVELOPMENT
PROGRAMMES
DESCRIPTION
ADMIN AGENCY
1. Double Tax Deduction for Inbound Tourism Promotion
To encourage Singapore tourism companies to promote the provision of services for inbound tourism to Singapore through participation in STB-supported overseas trade fairs/ missions.
Eligibility Criteria:
To qualify, a company should meet the following requirements:
• Must be a resident company or has a permanent establishment in Singapore.
• Is promoting Singapore services for inbound tourism.
STB
2. Loan Insurance Scheme (LIS)
Companies can secure short-term trade financing with the Loan Insurance Scheme (LIS), which insures the banks against insolvency risks of the borrowers. Loans are underwritten by commercial insurers, while a portion of the insurance premium is supported by the Government.
Companies can apply for the LIS to secure short-term trade financing lines such as:
• Inventory / stock financing facility
• Structured pre-delivery working capital
• Factoring / bill or invoice or accounts receivable discounting with recourse
Eligibility Criteria:
• Registered and operating in Singapore.
• At least 30% of your shareholding is local;
• Company’s group annual sales of not more than $100 million or company’s
group employment size not more than 200 workers.
ES
3. Local Enterprise Finance Scheme (LEFS)
The fund may be used for automating and upgrading factory and equipment, Enterprise and / or purchasing factory (only for JTC Corporation or Housing & Development Board (HDB) properties). The scheme offers loans up to S$15 million.
Eligibility Criteria:
• Company registered and operating in Singapore with at least 30% local equity.
• Company’s Group Annual Sales of not more than S$100 million OR Company’s Group Employment Size of not more than 200.
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