Approved Shipping Financing Arrangement

The ASFA(Ship) award provides support for ship owners, operators and lessors on interest and qualifying related payments made in respect of qualifying financing arrangements obtained to finance the purchase and construction of vessels. 

Benefits

An ASFA(Ship) company will enjoy withholding tax exemption on qualifying financing arrangements entered into on or before 31 December 2031 to finance the purchase and construction of vessels. 

Who is eligible

Applicant with a good track record and demonstrable business plan in respect of its shipping activities in Singapore may apply for the ASFA(Ship) award.

Applicants must be able to demonstrate in its business plan how the shipping activities in Singapore will generate economic contributions in Singapore through total business spending and ensuring that the strategic and commercial decision making function will be undertaken in Singapore.

How to apply

To apply, email to imc@mpa.gov.sg for more information.

The ASFA(Container) award provides support for sea container lessors on the interest and qualifying related payments made in respect of arrangements obtained to finance the purchase of containers. 

Benefits

An ASFA(Container) company will enjoy withholding tax exemption on qualifying financing arrangements entered into on or before 31 December 2031 to finance the purchase of containers. 

Who is eligible

Applicant with a good track record and demonstrable business plan in respect of its container leasing activities in Singapore may apply for the ASFA(Container) award.

Applicants must be able to demonstrate in its business plan how the container leasing activities in Singapore will generate economic contributions in Singapore through total business spending and ensuring that the strategic and commercial decision making function will be undertaken in Singapore.

How to apply

To apply, email to imc@mpa.gov.sg for more information.