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Apex Licence: Cutting red-tape with single composite licence

As traders' business models become increasingly complex, with many traders now taking on different functions and providing diverse services to their customers, current licensing schemes may not serve their needs adequately. That is why Singapore Customs has introduced the Apex Licence — an umbrella licence that cuts red-tape to offer traders greater flexibility and significant savings.

ExxonMobil Asia Pacific Pte Ltd has saved $175,000 in licensing fees.

The Apex Licence is a premium licence designed for companies with diverse business operations, especially those involved in multiple activities – like storing duty and GST-suspended goods, and manufacturing dutiable goods – at multiple locations.

For example, if a company stores non-dutiable goods under the Zero-GST Warehouse Scheme, and also stores dutiable goods under the Licensed Warehouse Scheme, it will need two separate licences. If it qualifies for the Apex Licence, it only needs a single licence for its entire operation.

To qualify for the Apex Licence, companies have to demonstrate a strong track record and a single inventory accounting system that is robust and secure.

Successful companies can enjoy many benefits including savings as they will only be required to pay one licence fee.

Since obtaining the Apex Licence, ExxonMobil Asia Pacific Pte Ltd has saved $175,000 in licensing fees.

Said Mr Chua Ngak Hong, Refinery Oil Documentation Administrator, “With Apex, we now need only one licence because although we have many locations and product types, our businesses are fully integrated and synergised. Our customers and various business groups now also find transactions less confusing as there is only one licence for reference."

The Apex Licence enables Oiltanking Odfjell Terminal Singapore Pte Ltd to save time, cut costs and expand its customer base.

Another company that has benefited, Oiltanking Odfjell Terminal Singapore Pte Ltd, has saved $21,000.

Said Mr Bay Chin Hao, Commercial Manager, “A single Apex Licence lets you enjoy not only a lower licensing cost, but also an enhanced ability to reach out to an expanded clientele with more complex demands. The single reporting requirement naturally streamlines and eases the associated administrative aspects."

Another key advantage of the Apex Licence is flexibility for companies to move their goods freely between their licensed premises. This gives them more leeway to explore new business opportunities.

The Apex Licence is open to existing licensees of the various tax-suspension schemes holding more than one type of licence. To learn more, click here.

Hailing Singapore Customs's pro-enterprise efforts, Mr Chua said, “The Apex Licencing scheme is a much welcomed initiative. It is yet another example of the agency being creatively pro-business while ensuring that its own standards and reporting requirements are met."