The contents of this article are indicative only. Please refer to the various authorities and to Amazon resources for the most updated information
Singapore may be a small country in terms of population and size but in terms of technology adoption it is BIG.
Singaporeans are embracing ecommerce in a big way.
As a brand that does not have its presence in Singapore, this is a good time to get started by selling online.
Amazon has now launched in Singapore. So if you are already a seller on Amazon in other countries it would be easier for you to get started.
Amazon Singapore also has the fulfilled by Amazon (FBA) system. You need not worry about product warehousing and fulfilment of deliveries.
Here are the simple steps to sell on Amazon Singapore (www.amazon.sg)
1. Identify the products that you want to sell in Singapore. While you may have some ideas, you can do with some local advice from Singaporeans or from a Singapore ecommerce services company
2. Identify the import regulations related to the products you need to sell. These could be related to safety or other aspects especially if they are food products or cosmetics. You can get a lot of information online or contact the Singapore government agencies (who are well known for being business friendly and very responsive)
3. Identify an importer or importer of record (IOR) who can assist you with the import of goods
4. Get a logistics partner in your country who can take your goods to Singapore, clear customs and do the inward process into Amazon FBA. If you do not have someone to do the last mile into FBA, you can appoint a Singapore based Fulfilment Company. However, please note that every additional service provider in the chain will cost money and you have to budget for it.
5. Payment settlement – You can open a Payoneer account or any other payment option as is available from Amazon.sg. You can see these options once you log into your seller central account
6. Make your business model and financial projections including investment. Remember that more successful your business is, the more inventory you need to get to keep the sales going. Make sure you have adequate working capita
Will all the above in place, you can open an account on Amazon Singapore. Remember to have copies of your company and your ID ready for registration
If you have transferred the title of goods to the importer and want the importer to receive funds before remitting back to you based on your export invoice that too can be worked out with the importer. You should have a separate legally binding agreement with the importer for such an arrangement.
Export regulations in your country need to be followed. Some countries like India mandate that all payments for exports must be received within 6 months of the export. In such cases, you need to ensure that this can be done and is practical.
Some useful inks for product import related certifications and information in Singapore are below:
Please note that regulations and guidelines can change. While this article is a general guide, you need to do your own research and adhere to all legal compliances as may be required in Singapore.