Internationalisation Finance Scheme (IFS)

Overseas ventures are generally associated with higher risks. This present challenges for companies looking to secure financing from banks for their overseas investments and/or projects. IFS is designed to facilitate companies’ access to financing for their overseas ventures through the co-sharing of default risks between IE Singapore and Participating Financial Institutions (PFIs).

What is the assistance?

With IFS, companies can access up to S$30 million in credit facilities to support their overseas expansion:

  • Asset-based financing to purchase fixed assets for use overseas, or to purchase/construct factories overseas
  • Structured loans to finance the working expenses of secured overseas projects
  • Banker’s guarantee for the issuance of guarantee facilities for secured overseas projects which can take the form of advance payment guarantee, performance guarantee or tender bond guarantee.
  • Merger and Acquisition financing to finance the acquisition of equity stakes in businesses with the intent of overseas expansion. The acquisition should synergise with their core business.

Interest rates, repayment structures and collateral requirements would be determined by the Participating Financial Institutions.

Who can apply?

IFS is a financial assistance programme under IE Singapore’s Global Company Partnership (GCP) programme.

GCP is for all Singapore-based companies with:

  • Global aspirations
  • Clear internationalisation plan
  • Competitive product or service
  • Potential economic benefits to Singapore

To qualify for IFS, you would also need to fulfil the following criteria:

  • Global HQ1 anchored in Singapore
  • Singapore-based company with meaningful business operations and at least 3 strategic business functions3 in Singapore4
  • The turnover of the Singapore-based company and its subsidiaries must not exceed the following:
    • Non-Trading Companies: S$300 million
    • Trading Companies5: S$500 million
  • The overseas business must complement the Singapore company’s core operations and result in economic spin-offs to Singapore.

1 Global HQ refers to global management control and decision making functions are based in Singapore. Indicators include global CXOs being based in Singapore; board meetings being held in Singapore, etc.

3 Strategic business functions refer to activities such as (i) banking & financial, (ii) marketing and business planning, (iii) procurement, logistics, (iv) training & personnel management, (v) investment planning/ co-ordination, (vi) R&D and design, (vii) technical support, (viii) manufacturing, and (viiii) other value-added (VA) activities.

4 Investment holding company does not qualify.

5 Company will be considered a trading company if more than 50% of turnover comes from buying and selling goods


How to apply? 

Applications must be made through any of the PFIs listed below.

 

Participating Financial Institutions (PFIs) Contact Details
AFC Merchant Bank 6224 7155 / 6228 6105
DBS Bank Limited 1800 222 2200
Hong Leong Finance Limited 1800 338 8338
The Hongkong and Shanghai Banking Corporation Limited 1800 216 9008 / 6216 9000
IFS Capital Limited
6270 7711
Industrial and Commercial Bank of China Limited
6538 1066
Malayan Banking Berhad (Maybank) 6550 7586
Mizuho Bank, Limited 6416 0723 / 6416 0203
ORIX Leasing Singapore Limited
Standard Chartered Bank
6339 3622
1800 747 7000
Oversea-Chinese Banking Corporation Ltd (OCBC Bank)
6538 1111

Standard Chartered Bank
1800 747 7000
United Overseas Bank Limited 6539 1236

To find out more

Call us at 1800-IESPORE (1800-437 7673) or +65 6337 6628, or
Email us here
View the full list of Access to Financing supportable activities

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