How IE can assist in
your overseas
expansion
Mr Sam Yeo
Senior Manager, Customer Services Group
IE Singapore
Agenda
1. Overview of IE and its assistance
2. Market Readiness Assistance (MRA) Grant
3. Global Company Partnership (GCP) Grant
4. Financing Schemes
5. Double Tax Deduction (DTD) for Internationalisation
Overview of IE and its
assistance
IE Singapore’s mission is to drive Singapore’s
external economy
More than 35 offices worldwide
AMERICAS
Los Angeles
Mexico City
New York
São Paulo
EUROPE
Frankfurt
Istanbul
London
Moscow
MIDDLE EAST
& AFRICA
Accra
Abu Dhabi
Doha
Dubai
Johannesburg
Riyadh
CHINA
North China
Beijing
Dalian
Qingdao
South China
Guangzhou
Wuhan
East China
Shanghai
West China
Chengdu
Chongqing
Xian
SOUTH ASIA
Chennai
Mumbai
New Delhi
NORTH ASIA
& PACIFIC
Seoul
Sydney
Taipei
Tokyo
SOUTHEAST
ASIA
Bangkok
Hanoi
Ho Chi Minh City
Jakarta
Kuala Lumpur
Manila
Surabaya
Yangon
IE provides assistance to grow Singapore companies
at various stages of internationalisation
Growth • Restructuring
Market Readiness Assistance
(MRA) Programme
Global Company Partnership
(GCP) Programme
Broad-based help to SMEs
taking their first steps
overseas
Customised help to all
Singapore companies to
deepen global footprint
Internationalisation
IE provides assistance to grow Singapore companies
at various stages of internationalisation
Growth • Restructuring
Market Readiness Assistance
(MRA) Programme
Global Company Partnership
(GCP) Programme
Broad-based help to SMEs
taking their first steps
overseas
Customised help to all
Singapore companies to
deepen global footprint
Financial assistance
Enhanced
•MRA Grant
Financial assistance
Enhanced
•GCP Grant
•Double Tax Deduction (DTD)
•Financing Schemes, e.g. IFS,
PRIS, TCIS, LIS/+
Networking and learning
•Seminars and Market Info
•Insights and Publications
Internationalisation
Advisory and Business
Development
•Our global network (e.g. 35+
overseas offices)
IE’s non-financial assistance for all companies
Learning and Networking Opportunities
IE Insights
iAdvisory Seminars for
Market Knowledge
Market 101 Guides
iAdvisory Workshops for
capability building
Research
Databases
iAdvisory Exchange for
peer-to-peer learning
Market Readiness
Assistance (MRA) Grant
MRA Grant
Overseas Market
Set-Up
Overseas Business
Partners
Overseas Market
Promotion
Features of MRA Grant
Quantum of Support
•Quick assistance through pre-defined
activities under 3 main scopes
• 70% of eligible third-party costs
•Support period of 6 months
•Companies can engage their preferred
consultant or legal advisor
NEW
• Up to $20,000 cap per company per fiscal year
• Up to two applications per company per fiscal year
• One activity per application form
MRA Grant
Overseas Market Set-Up
What activities are supported:
1.Market feasibility study
2.Advisory on tax, legal, import and export regulations
3.IP search, filing and registration
4.Drafting of franchising, distributorship and JV agreement
MRA Grant
Overseas Business Partners
What activities are supported:
Identification of potential:
1.Licensees/ Franchisees
2.Agents and Distributors
3.Joint Venture Partners
MRA Grant
Overseas Market Promotion
What activities are supported:
1.Overseas Marketing and PR activities
2.Online Marketing Activities
3.Participation in overseas trade fairs
NEW!
MRA Grant
Overseas Market Promotion
Overseas marketing
and PR activities
Online marketing
activities
• Marketing and PR
agency fees for
marketing campaigns,
including organising instore promotion, road
shows or pop-up
stores
• Search engine
marketing and/or
optimisation (SEO/
SEM)
• Social media
marketing
• Listing on global ecommerce platforms
* GCP-grant may also support a
more comprehensive ecommerce strategy and the
development of in-house ecommerce platform
NEW!
Participation in
overseas trade fairs
• Space rental and
construction cost
(capped at 36 m2)
*Excludes overseas tradeshows
already supported under iMAP
Example 1: Company A wants to set up an entity in
Myanmar and requires advice on the legal set up and
taxation
What company A can do
•
Approach a legal firm of their choice to provide the advice on legal and
taxation in Myanmar
•
Request the legal firm to register/incorporate an legal entity/rep office in
Myanmar
MRA Grant Support
•
Up to 70% of the advisory cost, legal and documentation cost or cap at
$20,000 per company per fiscal year (whichever is lower)
Calculations
•
If the total professional cost in providing the service is $15,000, MRA Grant
supports up to $10,500
In the same fiscal year, company A wants to do a
overseas marketing campaign in Malaysia to promote
their new range of products
What company A can do
•Approach a marketing agency of their choice to plan and execute the marketing
campaign, including organisation of roadshows; in-store promotion etc.
MRA Grant Support
•Up to 70% cost of the marketing fees of $20,000
•Campaign support period will be limited to 6 months
Calculations
•Company A can get support of up $14,000 (i.e. 70% of $20,000).
•However, company had been granted $10,500 for earlier activity in Myanmar
•Hence, the company is only eligible for the maximum grant support of up to
$9,500 (within the total grant cap of $20,000)
Qualifying criteria for MRA-Grant
• Global HQ anchored in Singapore
• An annual turnover of less than S$100 million per annum based on
the most recent audited report
Application Process
Step 1:
Download and fill in the application form
(www.iesingapore.com/MRA_Grant)
Step 2:
Request a cost quotation from the third party
consultant/vendor that you would like to appoint.
Step 3:
Send the completed application form with quotation
to [email protected]
For enquiries, please
Call us at 1800-IESPORE (1800-437 7673) or +65 6337 6628
Email us [email protected]
Global Company
Partnership (GCP) Grant
IE’s company engagement process
Step 1
We will
understand
your
business
strategies,
products and
services, and
plans for
overseas
growth.
Step 2
Together, we will
assess potential
sectors within
different markets,
understand
your
capabilities and
gaps, and
identify relevant
opportunities for
growth.
Step 3
We will customise
a comprehensive
suite of solutions
for your
international
growth through
IE’s grants, tax and
financing schemes.
GCP Grant – to help companies defray costs in their
overseas expansion
GCP Grant
Capability
Building
Ensure success
overseas by building
up your business
capabilities
Market
Access
Access new overseas
markets and enhance
your presence in
existing markets
Manpower
Development
Manage human
resources and
labour issues in
foreign markets
GCP Grant
Capability Building
Supportable activities
(non-exhaustive):
• Internationalisation
Strategies
• Branding
• Design
• E-Commerce
• Financial Management
• Franchising and
Licensing
• Intellectual Property
Management
• Social Media
• Supply Chain
Management
Up to 70%
support for
costs
incurred for
SMEs
Up to 50%
support for
costs
incurred for
non-SMEs
GCP Grant
Market Access
Supportable activities:
Up to 70%
support for costs
incurred for
SMEs
Up to 50%
support for
costs incurred
for non-SMEs
ALL MARKETS
NEW MARKETS*
• Overseas marketing
• Market Research
• Market Feasibility Study presence
• Business development
• M&A Due Diligence
• Market start up
• Bidding
• Pilot & Test Bedding
• Identification of
overseas distributors/
*New markets are markets where company has not had sales
agents
of S$100K for any of the last three years (non-cumulative).
GCP Grant
Manpower Development
Supportable activities:
• Recruitment of C-suites and critical talent
• Overseas market attachments
• Customised training
• International HR strategy
Up to 70%
support for costs
incurred for
SMEs
Up to 50%
support for
costs incurred
for non-SMEs
Qualifying criteria for GCP-Grant
• Global HQ anchored in Singapore
• An annual turnover of at least S$500,000 per annum based on the
most recent audited report
• An annual total business spending* of at least
• S$250,000 in Singapore for each of the past three years
• A minimum paid-up capital of S$50,000
• At least three managerial staff based in Singapore
* Total Business Spending refers to expenses incurred by the company-applicant, such as Staff costs (salary, training etc), Finance costs
(bank loans/ overdrafts/ interest), Other operating expenses e.g. Advertising & promotion, audit fee, depreciation, director’s remuneration,
freight charges, insurance cost, office rental, professional consultant’s fees, telecommunications, utilities etc.
Total Business Spending excludes: Costs of goods sold/ Cost of sales/ Distribution and selling expense, Exchange-rate losses, Allowance for
doubtful debts, Income tax expense, Property tax expense
Financing Schemes
Facilitating Access to Financing when venturing
overseas
For Internationalisation
Increase
Bank’s Risk
Appetite to
Lend to You
Up to 50%
support on
insurance policy
premium to
mitigate risk
For Exports
Internationalisation Finance
Scheme (IFS)
Helps companies secure loans of
up to S$30 million for
internationalisation from
Participating Financial Institutions
(PFIs) by insuring against
insolvency risks
Loan Insurance Scheme
(LIS)
Helps companies secure
short-term trade financing
loans from Participating
Financial Institutions (PFIs)
by insuring against
insolvency risks
Political Risk Insurance Scheme
(PRIS)
Protect overseas investments and
projects in overseas markets from
political risk
Trade Credit Insurance
Scheme (TCIS)
Protect you against nonpayment risks of buyers
Double Tax Deduction (DTD)
for Internationalisation
DTDi offers a 200% tax deduction on eligible expenses
for overseas market development and investment
development activities
Market Preparation
Market
Introduction
Marketing &
Promotion
Market
Presence
• Participating in
• Overseas
•
overseas business/
advertising and
market
promotions
•
development trips
• Production of
• Design of packaging
• Exhibiting in
corporate brochures
for overseas markets
overseas and
for overseas
o
• Products/services
approved local
distribution
certification for
trade fairs
• Advertising in
overseas market
approved local
• Overseas market
trade publications o
survey/feasibility study
Engaging thirdparty professional
consultant for
• Market development activities
o Investment development activities
Establishing overseas
trade offices
Promoting the company’s
master license and
franchise overseas
Engaging third-party
professional consultant
for investment feasibility/
due diligence studies
Participating in overseas
investment development
trips or missions
• Posting of Singaporeans
to new overseas entities
NEW
IE’s company engagement process
Step 1
We will
understand
your
business
strategies,
products and
services, and
plans for
overseas
growth.
Step 2
Together, we will
assess potential
sectors within
different markets,
understand
your
capabilities and
gaps, and
identify relevant
opportunities for
growth.
Step 3
We will customise
a comprehensive
suite of solutions
for your
international
growth through
IE’s grants, tax and
financing schemes.
How you can reach us
Email: [email protected]
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Hotline: 6337 6628 / 1800-IESPORE
(Local Toll Free)
Visit us at:
230 Victoria Street #10-00
Bugis Junction Office Tower,
Singapore 188024
Thank You
www.iesingapore.com