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How can a company qualify for the Air Store Bond Scheme?
To qualify for the Air Store Bond Scheme, the company must fulfil the conditions below:
• Be GST-registered with the Inland Revenue Authority of Singapore (IRAS)
• Have a valid Customs Account
• Have good compliance records with Singapore Customs
• Be responsible for the security, accountability and control of the dutiable goods
• Obtain approval from the Changi Airport Group to operate an air store bond
• Undergo TradeFIRSTassessment and attain the minimum "Enhanced" Band
Please refer to this link for more information.
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