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A little shop for everything! Cross-border e-commerce, a new outlet for compliant and low-cost entrepreneurial immigration!

If you missed the start of Taobao and the short video bandwagon, then you must not miss the cross-border e-commerce!

In this “E-Shop Everything” era, the new wave of cross-border e-commerce is rapidly spreading to the world. In Singapore, for example, compliance and low-cost self-employed immigration is achieved by setting up cross-border e-commerce businesses.

Why Singapore?

Singapore is one of the few developed countries in Asia, with a Gross Domestic Product (GDP) of about $387.69 billion (2021) and per capita GDP of about $71,100 (2021). Singapore is expected to remain one of the best places in the world to do business between 2023 and 2027.

1. 89% Internet penetration rate

The Internet penetration rate affects consumers’ acceptance of online shopping. The Internet penetration rate in Singapore is 89%. The total population of Singapore is 5.45 million (2022), among which 4.9 million are netizens, which is a good foundation for Internet development.

2. TOP 10 logistics performance indicators

Singapore is only 733.1 square kilometers in size (2021), about the size of Shanghai, so the logistics pressure has been relatively low. Singapore’s logistics performance indicators rank among the top 10 in the world, resulting from numerous logistics companies. Moreover, as it is close to China, logistics is a significant advantage for developing cross-border e-commerce in Singapore.

3. High online payment rate

Online payment rates in Singapore are still reasonably high, but 42.2% of Singapore consumers said they would prefer to use credit cards for payments, while 42% of online shoppers preferred bank transfers and e-wallets. Therefore, to open an e-shop in Singapore, you must learn local payment methods.

4. Future market prospects

According to the data, Singapore’s e-commerce market was $5.9 billion in year 2021 and is expected to reach $10.7 billion by the year 2025. Thus, the development speed of e-commerce in Singapore is relatively rapid, and the future market is very considerable.

Picture from Lazada

Which e-commerce platforms are the most popular in Singapore?

According to data from relevant research institutions, only 61.33% of Singapore’s population uses e-commerce platforms, which means there is still a lot of room for growth in Singapore’s e-commerce market.

1. Alibaba Lazada

Lazada is an e-commerce platform in Southeast Asia which belongs to the Alibaba Group ( resemble to Taobao), covering 6 countries including Singapore, Malaysia, Thailand, Indonesia, Philippines and Vietnam.

In 2016, Alibaba invested about $1 billion to take a controlling stake in Lazada, according to public filings. In June 2017, Alibaba again announced that it would spend about $1 billion to increase its stake in Lazada from 51% to 83%.

Picture: Lazada operating model analysis package (partial screenshot)

2. Tencent Shopee

Shopee is a leading e-commerce platform in Southeast Asia, ranking among the top three e-commerce platforms in Southeast Asia. Shopee platform provides consumers with easy, safe and convenient online shopping experience through powerful payment and logistics services.

Founded in Singapore in 2015, Shopee has expanded to Malaysia, Thailand, Taiwan, Indonesia, Vietnam and the Philippines. The platform has a wide range of products, including consumer electronics, home, beauty and health, child and maternal care, clothing and fitness equipment.

Picture from Shopee official website

3. Tiktok shop

According to the TikTok Shop official account, TikTok Shop will launch cross-border operations in Thailand, Vietnam, Malaysia and the Philippines at the end of March 2023, stepping into a new phase of selling goods in one shop around the world.

According to a document released by the cross-border Localization Center of TikTok Shop, the cross-border operations of TikTok Shop in four Southeast Asian countries will allow merchants to settle in and distribute products from April 25. From April 30, merchants will be able to live-stream delivery of goods, send short video trailers, and perform transactions.

Note: Data from Ebrun.

Picture from TikTok official website

4. Other mainstream e-commerce platforms in Singapore

  • Qoo10, which aims to build an electronic shopping platform for integrating resources across Asia. The platform is dominated by women and fashion goods. The company is currently operating seven shopping websites in five countries, including Singapore, and plans to expand beyond.
  • eBay is an online auction and shopping site that allows people around the world to buy and sell things online. eBay Singapore has expanded to Business-to-Consumer (B2C) products and specials and covers all general product categories.
  • Carousell, a local e-commerce website founded by three university graduates in Singapore, mainly provides high-quality second-hand goods and services on mobile terminals. Its business scope includes seven countries including Singapore, Australia and Malaysia, and the company’s market capitalization has reached $500 million.
  • Zalora, an online fashion and beauty shopping platform, offers fashion, accessories, footwear and makeup and skincare products for both male and female customers. Its operations include Singapore, Indonesia, the Philippines, Thailand, Vietnam, Malaysia and Brunei.
  • FairPrice On, which is the e-commerce portal of NTUC Fairprice Co-operative Ltd, Singapore’s largest grocery retailer. Consumers can purchase a variety of household needs, from fresh produce to fine wine, from home care to baby products.

Note: If you are interested in cross-border e-commerce, please contact Go Global Gem, we will provide you with Lazada store, Shopee store, Tiktok store and other full commission, housekeeper agent operation services, to help you realize the three generations of a family, low-cost compliance immigration to Singapore.

How to immigrate through cross-border e-commerce?

1. Singapore’s main overseas business routes

In recent years, with the strong rise of China’s domestic products, many overseas countries turn to China for “shopping”. The so-called “reverse overseas shopping” refers to the fact that domestic consumers used to buy goods from overseas, but now more and more overseas consumers are buying “Chinese goods” on our e-commerce platform. Especially since the Regional Comprehensive Economic Partnership (RCEP) took effect this year, cross-border e-commerce, a new form of trade, has ushered in a new wind of development.

At present, the main routes to Singapore to go abroad include the Personalized Employment Permit (PEP), Employment Pass (EP) permit, Tech.Pass permit, entrepreneurial immigrant and equity investment immigrant. Other forms of permits and investment immigration procedures have been previously introduced in detail in the past, you can read the release records, and today we mainly talk about EP self-employment immigration.

① Advantages of Employment Pass

  • Employment Pass is a higher-level work pass provided by Singapore’s Ministry of Manpower for foreign professionals (managerial, supervisory or professional positions). To establish a new company in Singapore based on its domestic business background, the applicant will work as a shareholder or an executive in a Singapore company.
  • It requires no investment, no age and language requirements, and no explanation of the source of funds. It takes only six months to apply for permanent residence in Singapore, and two years to apply for Singapore citizenship.

② Employment permit application requirements

  • To hold or hold a company (not limited to China) : the company has been established for at least 3 years and have at least 3 employees from Singapore.
  • College degree certification or above, part-time (certification required) college degree or below, investment experience or special achievements;
  • The applicant has worked or held the position of senior management/shareholder in the company (not limited to China) for at least 1 year, and the company has an annual turnover of RMB 5 million.

Remarks: For newly registered companies in Singapore, the applicant can hold 100% shares; The business scope of the Singapore company is related to the parent company;

③ EP application process

Step 1: sign a contract with Go Global Gem;

Step 2: Complete the registration of the company and account opening;

Step 3: Complete the leasing of office space;

Step 4: Submit your application;

Step 5: IPA is approved;

Step 6, log in Singapore to apply for a card;

Note: The overall cycle takes about 2 to 3 months.

Picture: TikTok UK headquarters, from Baijiahao

2. Successful cases of self-employed EP

Recently, Go Global Gem helped a number of elite individuals through entrepreneurial immigration and have successfully obtained Singapore EP through various means. For example:

① Overseas planning story

Mr. J, a young entrepreneur and blockchain technology researcher, has been rooted in Internet entrepreneurship for nearly 10 years and served as the CEO of M Company in the east coast of China. In order to grow his personal and business assets, Mr. J began to plan to expand overseas business.

② Application process

1 August 2022 – Go Global Gem developed an exclusive solution with no degree qualifications requirement for Mr. J;

26 August 2022 – Submission of EP application;

31 August 2022 – EP application approved by the MOM authority;

5 September 2022 – Mr. J lands in Singapore;

16 September 2022 – Mr. J has successfully received the EP status.

Picture: Mr. J successfully obtained the Singapore EP, and any stolen pictures will be investigated!

Cross-border e-commerce: What’s popular in Singapore?

At present, women’s wear, 3C electronics, household goods, maternal and child products, beauty and health care products are popular in Singapore’s e-commerce websites.

 1. Women’s wear

The majority of consumers in Singapore are women, so women’s wear is in great demand. For example, women’s fashion, accessories, bags and so on are relatively hot, but it should be noted that the competition is also relatively fierce.

2. 3C electrons

Due to the increasing demand of consumers for mobile electronic devices, electronic categories account for a relatively large volume on multiple platforms and sites. For example, mobile phone accessories, tablet cases, USB cables, mobile power supplies, food mixers and other electronic products.

3. Household goods

The decoration supplies, storage supplies, kitchen supplies have a great potential in Singapore market. Consumers can also choose the product style according to their actual or festival needs.

4. Maternal and infant products

In the e-commerce market of Singapore, maternal and infant-related products such as diapers, baby climbing clothes, breast pumps, etc. are all maternal and infant products with relatively high sales volume, especially diapers, whose sales volume can reach hundreds of thousands in a day.

5. Beauty care

Singapore consumers are also very beauty and health conscious. Eyeshadow, lipstick, eyeliner and other beauty products are essential. Entrepreneurs can refer to the Korean makeup products systems and then stock up. As about Health care products, you can take more attention at some calcium tablets, cod liver oil and so on.

Picture from Lazada official website

E-Shops sell Everything. Cross-border e-commerce is rapidly spreading around the world. If you plan to expand the overseas market, please contact Go Global Gem immediately, we will provide full commission, housekeeper service of Lazada store, Shopee store, Tiktok store and other E-shops, to help you realize the three generations of a family, low-cost compliance immigration to Singapore.

If you have any questions, please feel free to contact:Ho Kah Chuan
Email: kahchuanho@goglobalgem.com