What are the total business spending and headcount
requirements under the MSI?
The applicant is required to meet the following
International Shipping Enterprise Award
S$27.5mil over 5 years
Leasing (Ship) Award
S$25mil over 5 years
MSI–Maritime Leasing (Container) Award
S$12mil over 5 years
S$8mil over 5 years
MSI–Shipping-related Support Services Award
Incremental S$6mil over 5 years
MPA requires vessels to comply with the following:
i) All power driven vessels irrespective of size are required to be fitted with a working transponder as a port entry requirement. Details of this requirement are contained in Port Marine Circular No. 10 of 2010, which can be found at MPA's website.
ii) The owner, agent, master or person-in-charge of a vessel irrespective of size is required to notify the Port Master via MARINET, E-mail, Telefax or Telex at least 12 hours prior to the arrival of the vessel. A vessel coming from a nearby port, with less than 12 hours steaming time to Singapore, shall immediately on departure from such port notify the Port Master. In addition, these vessels are required to confirm the vessels' arrival by VHF radio to the Singapore Vessel Traffic Information Service (VTIS) when entering the Singapore Strait. Details of these notification procedures are contained in Port Marine Circulars No. 20 of 2008 (for vessels 300 GT or more) and No. 10 of 2011 (for vessels less than 300 GT) which can be found at MPA's website.
iii) The owner, agent, master of passenger vessels including high-speed passenger craft, cargo ships including high-speed craft of 500 GT and above, and Mobile offshore units, including mobile offshore drilling units is required to submit the Pre-Arrival Notification (PAN) to the Port Security Unit at Fax No. (65) 6221 3036 or email: email@example.com at least 24 hours before the ship's arrival in Singapore. A vessel coming from a nearby port, with less than 24 hours steaming time to Singapore, shall immediately on departure from such port submit the Pre-Arrival Notification (PAN) to the Port Security Unit of MPA. Details of these notification procedures are contained in Port Marine Circular No. 05 of 2013, or as revised, which can be found at MPA's website.
Company rendering qualifying ship management services
Qualifying related SPV
Section 13A company (as described in FAQ no. 3)
A company: -
i) at least 50% of the total number of issued ordinary shares of which are beneficially and directly owned by the Section 13A company; and
ii) that owns or operates a Singapore-flagged ship or a newbuilding that is to be flagged as a Singapore ship (in respect of which the qualifying ship management services are rendered).
MSI-AIS parent company
An entity approved under the MSI-AIS award as an:
- MSI-AIS local subsidiary2; or
- MSI–AIS approved network company;
owns or operates a Singapore–flagged or foreign-flagged ship or a newbuilding that is to be flagged as a Singapore or foreign ship (in respect of which the qualifying ship management services are rendered).
MSI-AIS managing company
- MSI–AIS approved sister company2; or
- MSI–AIS local subsidiary2; or
- MSI–AIS approved network company;
2If the MSI-AIS parent / managing company provides qualifying ship management services to a qualifying related SPV that only owns or operates Singapore-flagged ships, the MSI-AIS parent / managing company has to make an application for MSI-AIS local subsidiary / sister company (Singapore flagged vessels) status for the said SPV for the purpose of qualifying for this tax exemption.