Singapore is one of the most strategically positioned bases for marketplace sellers targeting Southeast Asia, Australia, and global markets. A Singapore Pte Ltd unlocks business seller accounts, multi-currency banking, and a tax structure that scales as your sales grow. This guide covers everything a marketplace seller needs to know about incorporating and operating from Singapore.
Sellers on Amazon (SG, US, EU, AU), Shopee, Lazada, TikTok Shop, Qoo10, or Carousell Business who want to sell as a properly registered Singapore business rather than as an individual.
Why incorporate as a Singapore Pte Ltd for marketplace selling?
Selling under a registered company rather than as an individual changes your cost structure, credibility, and tax position in several ways:
- Business seller accounts: Amazon Seller Central, Shopee for Business, and Lazada Business all offer enhanced features for registered companies - higher payout limits, bulk listing tools, and VAT invoice capability
- GST/VAT invoicing: B2B buyers on marketplaces often require GST-registered suppliers. A Singapore Pte Ltd that is GST-registered can issue proper tax invoices
- Multi-currency banking: Corporate bank accounts with USD, SGD, EUR, and GBP capabilities make it easier to receive Amazon global marketplace payouts without conversion fees
- Limited liability: A sole proprietor is personally liable for returns, disputes, and any regulatory issues. A Pte Ltd ring-fences your personal assets
- Tax efficiency: Singapore's 17% corporate tax rate, startup exemptions (effectively 0% on first S$100K), and no capital gains tax make Singapore more tax-efficient than most jurisdictions for profitable marketplace businesses
- Brand credibility: Buyers on Shopee and Lazada increasingly check seller profiles. A company registration adds credibility versus individual sellers
Which SSIC code should you use?
ACRA requires an SSIC (Singapore Standard Industrial Classification) code that describes your business activity. For marketplace sellers:
| SSIC Code | Description | Best for |
|---|---|---|
| 47910 | Retail sale via internet | Most marketplace sellers - your primary code if 50%+ of revenue is online |
| 47990 | Other retail sale not in stores, stalls or markets | Multi-channel sellers, catalogue and mail-order sellers |
| 46900 | Non-specialised wholesale trade | Sellers buying wholesale and reselling at volume (B2B) |
| 46411 | Wholesale of clothing and footwear | Fashion brands or distributors using marketplaces as a channel |
| 47520 | Retail sale of hardware, paints, glass | Home improvement and tools sellers |
| 47630 | Retail sale of music and video recordings | Digital content or media product sellers |
Your SSIC code affects grant eligibility and some licensing requirements. Use our free SSIC Code Search tool to find the most accurate code for your product category.
Setting up on each major marketplace
Amazon (Seller Central)
Amazon Singapore launched in 2019 and is growing rapidly. As a Singapore Pte Ltd, you can register for an Amazon Seller Central account under the "Business" entity type. Required documents:
- ACRA business profile (BizFile extract showing your UEN)
- Director's NRIC or passport
- Singapore corporate bank account
- Credit card for seller fees
- GST registration certificate (if applicable)
For selling on Amazon US, EU, or AU from Singapore, you'll need a US bank account or Amazon's Currency Converter. Hyperwallet and Payoneer are common solutions for Singapore-based sellers receiving USD from Amazon US.
Shopee
Shopee is Singapore's dominant marketplace and supports both individual and business seller accounts. Business accounts (available to Singapore-registered companies) receive:
- Shopee Preferred Seller badge (faster and higher visibility)
- Access to Shopee for Business dashboard with analytics
- Ability to issue GST invoices to buyers
- Higher transaction limits
Register at seller.shopee.sg with your UEN and company details. Bank account must be a Singapore corporate account in the company's name.
Lazada
Lazada operates across Singapore, Malaysia, Indonesia, Philippines, Thailand, and Vietnam. A Singapore company gives you access to LazMall (verified brand or official store tier) which requires a company registration and either a brand ownership certificate or authorised reseller letter.
TikTok Shop
TikTok Shop has grown rapidly in Singapore and Southeast Asia. Business seller registration requires a Singapore UEN, company registration documents, and a Singapore bank account. TikTok Shop is particularly strong for impulse-purchase categories: beauty, fashion, food, and consumer electronics accessories.
GST for marketplace sellers
GST registration is compulsory when your taxable turnover exceeds S$1 million in any 12-month period. For most marketplace sellers starting out, this means you can defer GST registration until you hit that threshold.
However, there are reasons to register voluntarily before hitting S$1M:
- If you buy inventory from GST-registered Singapore suppliers, you can claim back the GST on your purchases (input tax credit), reducing your effective cost of goods
- If your customers are primarily B2B businesses, they can claim back the GST you charge them - so being GST-registered doesn't disadvantage you
- For sellers importing goods, GST registration allows you to claim import GST on goods brought into Singapore
From January 2023, overseas sellers and electronic marketplace operators must register for GST and charge GST on low-value goods (under S$400) sold to Singapore consumers. If you're an overseas seller shipping to Singapore buyers via marketplaces, check whether your marketplace charges GST on your behalf or whether you need to register directly.
Use our free GST Registration Checker to determine whether and when you need to register.
Banking for marketplace sellers
A Singapore corporate bank account is required to receive marketplace payouts as a business. Key considerations:
| Option | Best for | Opening time | Multi-currency |
|---|---|---|---|
| DBS Business Account | Established sellers needing credit facilities | 1-3 weeks | Yes |
| OCBC Business Account | SME sellers, good digital banking | 1-3 weeks | Yes |
| Wise Business | Amazon global sellers, multi-currency payouts | 1-5 days | Yes (USD, EUR, AUD, GBP) |
| Airwallex | High-volume cross-border sellers | 1-3 days | Yes (30+ currencies) |
| Aspire | Fast-growing online sellers | 1-3 days | Yes |
Most marketplace sellers use a combination: a traditional bank (DBS/OCBC) for CPF, IRAS payments, and bank transfers, plus a fintech account (Wise/Airwallex) for receiving overseas marketplace payouts without conversion fees.
Tax structure for marketplace sellers
Singapore's tax regime is highly favorable for marketplace sellers:
- Corporate tax: 17% on taxable profits. Startup Tax Exemption (SUTE) gives 75% exemption on first S$100K chargeable income and 50% on next S$100K in years 1-3. Effective rate: 4.25% on first S$100K, 8.5% on next S$100K.
- No capital gains tax: If you sell your marketplace business, seller account, brand, or inventory as a capital transaction, there is no capital gains tax in Singapore.
- No dividend tax: Singapore operates a one-tier tax system. Dividends paid to shareholders are not taxed again at the individual level - so profits extracted as dividends are only taxed once at the corporate level.
- Deductible expenses: Platform fees, advertising, shipping, packaging, storage (3PL or FBA), photography, software subscriptions, and professional services are all deductible business expenses.
Founder pay optimization
As a founder-director of your marketplace company, you can pay yourself via salary and/or dividends. The right split depends on your profit level and personal tax bracket. Use our Founder Pay Optimizer to calculate the most tax-efficient structure for your income level.
Post-incorporation checklist for marketplace sellers
- Register as a business seller on your target marketplaces (Amazon, Shopee, Lazada, TikTok Shop) using your UEN
- Open a Singapore corporate bank account (traditional bank + fintech for multi-currency)
- Check whether you need to register for GST immediately or can defer until you hit S$1M turnover
- Set up accounting software (Xero, QuickBooks) to track sales, cost of goods, and expenses by marketplace
- Apply for any required product licences (CPIB/HSA for health products, NEA for food, etc.)
- Register for CPF if you hire Singapore Citizen or PR employees
- Set a financial year end (usually 31 December) and confirm with your corporate secretary
Karman handles the full process - ACRA registration, nominee director (if needed), corporate secretary, and GST registration. Most marketplace sellers are incorporated within 1-3 days.
Official Sources
Frequently Asked Questions
You can sell as an individual, but a Singapore Pte Ltd unlocks business seller accounts, higher payout limits, GST invoicing, and brand credibility. Most serious sellers incorporate once they exceed S$5,000-S$10,000/month in revenue.
The most common code is 47910 (Retail sale via internet). If you sell across multiple categories or to B2B buyers at volume, 47990 or 46900 may be more appropriate. Karman advises on the correct SSIC code during incorporation.
Compulsory when taxable turnover exceeds S$1 million in any 12-month period. Voluntary registration is available earlier and can be beneficial if you have significant input GST costs (e.g., buying inventory from GST-registered suppliers).
Yes. Foreign nationals can own 100% of a Singapore Pte Ltd. You'll need a locally resident nominee director if you don't hold a Singapore pass. Once incorporated, you can register as a business seller on all major marketplaces using your Singapore UEN and corporate bank account.