A Guide to Singapore Government Aid

This guide provides information on how the Singapore government is providing support to businesses affected by the COVID-19 pandemic.

Please note, the following information is meant to serve as a guide. Please check with official government sources (listed below) to obtain the most up to date and accurate information on Singaporean government support programs.

Businesses in Singapore and around the world are experiencing hardships as a result of COVID-19. The global pandemic has disrupted supply chains, restricted cash flow, and forced many companies to switch to remote-based work.

In response to the COVID-19 pandemic, the Singaporean government has announced three rounds of budget measures, under its 2020 Budget, Resilience Budget, and Solidarity Budget. These budgets include support measures for corporations, small and medium-sized businesses, self-employed individuals, and employees. The budget packages  aim to offer a broad safety net to citizens and residents, to create economic stability in these unsettling times. 

The government has introduced several programs and policies to reduce the financial burden of COVID-19 for businesses operating in Singapore. Many existing grant programs have been updated to increase the amount of funding offered by the government. Businesses will also benefit from assistance in the form of tax deferrals and lower interest rates on qualifying loans.

We expect additional support to be rolled out by the government, and will continue to update this guide as new measures are introduced.

Providing liquidity through direct funds, loans, and grants

For employers who make CPF contributions for their employees

The Stabilisation and Support Package - Jobs Support Scheme (JSS) is administered by the Inland Revenue Authority of Singapore (IRAS) to help businesses retain employees (Singaporean citizens and permanent residents) during ongoing economic uncertainty. Eligible businesses will receive co-funding from the government for the first $4,600 SGD of each employee’s gross monthly wages over a nine-month period. This funding includes coverage for the employee’s CPF contribution, but the funding does not cover the employer’s contribution.

Co-funding for the JSS is broken down into three levels.


All employers who’ve made CPF contributions for their citizen and permanent resident employees qualify for the JSS payout, with the exception of a handful of industries on the Employer Exclusion List. Eligible employers include:

Visit the JSS webpage to learn more.

How to apply

No application is necessary. The Inland Revenue Authority of Singapore (IRAS) will contact eligible employers to get started. If you believe your business was classified in an incorrect tier, complete the JSS Appeals form.

For small and medium businesses in need of cash

The Enterprise Financing Scheme – SME Working Capital Loan and Trade Loan (EFS-WCL) helps small and medium enterprises (SMEs) across all industries with their operational cash flow needs. Business entities can borrow up to a maximum of $1 million SGD from Participating Financial Institutions (PFIs). Borrowers will be required to repay 100% of the loan over a five-year period, with interest rates based on the PFIs’ assessment of risks involved. The EFS-WCL scheme also increased the government’s risk-share to 90% (from 50% and 70% for new companies) and SMEs may apply to defer their principal repayment up to one year.


To qualify for the EFS-WCL, your business must:

The loan is limited to SMEs, which are defined as having a group revenue of no more than $100 million SGD and have no more than 200 employees.

How to apply

Apply for the loan at one of the PFIs

Refer to the application form guide for help with completing your application.

For small and medium businesses needing help with digital transformation

The Infocomm Media Development Authority (IMDA) is helping Singaporean businesses go digital with the SMEs Go Digital Expansion program. In an effort to help SMEs adapt to disruptive changes while following social distancing measures, Enterprise Singapore and the IMDA are providing as much as 80% funding support to SMEs through the Go Digital Expansion grant. This program helps companies with adopting and upgrading advanced digital solutions like:

Businesses that have been the most severely impacted by COVID-19 could receive as much as 90% funding support, which is the maximum support level. Enterprises that qualify for maximum support are chosen on a case-by-case basis.


Companies that qualify for the Go Digital Expansion grant must be registered and operating in Singapore. Singaporean citizens or permanent residents must have a minimum of 30% of shares in the company, and the business must be deemed financially viable to start and finish the project.

How to apply

Apply between 1 April 2020 to 31 December 2020 through the Business Grants Portal. Further information about the Go Digital Expansion grant can be found here, and questions can be directed to info@imda.gov.sg.

The Digital Acceleration Grant from the MAS Financial Sector Technology and Innovation (FSTI) Digital Acceleration Grant (DAG) supports small Singapore-based financial institutions and FinTech firms looking to adopt digital solutions to improve productivity, strengthen operational resilience, and better manage risk. They’re offering 80% co-funding of qualifying expenses incurred beginning on February 1, 2020. The funding duration is one year for institution projects and is capped at $120,000 per entity, while industry pilots are capped at two years of funding post-implementation for qualifying projects with a limit of $100,000 per entity.


Companies that qualify for this co-funding are Singapore-based financial institutions and fintech firms (certified by the Singapore FinTech Association) with fewer than 200 employees. Qualifying projects must:

The categories of qualifying solutions include: cloud services, communication and/or collaboration tools, compliance and transaction monitoring tools, customer relationship/engagement tools, enterprise services (like HR and accounting systems), marketing productivity resources, project management and software testing tools, security-related software, and tools that support remote work.

How to apply

Institution projects that support smaller financial institutions and FinTech firms should apply by December 31 of 2021 by submitting an application form to fintech_office@mas.gov.sg. Industry pilot programs should submit an application to fintech_office@mas.gov.sg at least two months before a project starts.

For businesses that need help with driving innovation

The Enhancements to Enterprise Development Grant (EDG) is part of the Boosting Enterprise Transformation scheme. The grant offers funding to enterprises working on the following three areas:

The government announced that funding will be increased from 70% to 80% support between 1 April 2020 to 31 December. Businesses that have been severely impacted by COVID-19 could be eligible to receive a maximum of 90% support. Unionized businesses and Employment and Employability Institute partners under the Labour Movement could also qualify for an additional 10% in funding.

The maximum support for all eligible businesses is capped at 90%.


Companies that qualify for the EDG must be registered and operating in Singapore. Singaporean citizens or permanent residents must have a minimum of 30% of shares in the company, and the business must be deemed financially viable to start and finish the project.

Companies eligible for 90% funding are chosen on a case-by-case basis.

How to apply

Businesses can apply for the EDG by visiting the Business Grants Portal. Questions regarding the EDG can be emailed to enquiry@enterprisesg.gov.sg.

For environmental businesses in need of funding for off-the-shelf technology solutions

The Productivity Solutions Grant (PSG) helps businesses receive funding to help with technology adoption in the form of off-the-shelf productivity solutions. The grant is capped at $350,000 SGD per business and the government recently increased the funding level from 70% to 80% between 1 April 2020 and 31 December 2020.


How to apply

Receive quote for IT solutions or equipment from a pre-approved vendor, then apply through the Business Grants Portal.

Questions about pre-approved vendors and anything else related to the PSG should be emailed to enquiry@enterprisesg.gov.sg.

For businesses adopting e-invoicing

Businesses that register on the nationwide e-invoicing network before 1 January 2021 can receive a one-time payment of $200 SGD to offset the incremental costs of adopting e-invoicing.


Businesses eligible for the one-time grant must:

How to apply

There’s no application necessary. Businesses will receive the one-time grant once they’ve registered to the e-invoicing network.

Learn more by visiting the E-Invoicing Registration Grant webpage.

For self-employed individuals

The Self-Employed Person Income Relief Scheme (SIRS) provides eligible self-employed persons (SEPs) with three cash payouts of $3000 SGD in May, July, and October 2020.


Eligible SEPs must:

Eligible SEPs cannot earn additional income as an employee and they cannot own two or more properties.

Married SEPs cannot own two or more combined properties, and the spouse of the SEP cannot earn more than $70,000 SGD.

How to apply

SEPs aged 37 and older who declared positive self-employed income will be contacted via SMS or letter regarding their eligibility and payout. The application process for all other SEPs will be released at a later date on the Ministry of Manpower website.   

Tax-relief options

Deferring corporate income tax (CIT)

All businesses that are expected to pay CIT in April, May, and June 2020 are granted a three-month deferment on payments. Companies with existing payment plans can review their updated installment plans by visiting the myTax Portal at the beginning of May 2020.

A Corporate Tax Payment Deferment Calculator is available to companies that were scheduled to make a one-time CIT payment in the months of April, May, and June.  

More information can be found by visiting the Inland Revenue Authority of Singapore (IRAS) webpage on Paying Corporate Income Taxes.


All companies that pay CIT are eligible.

How to apply

Eligible companies should receive a letter by IRAS by 15 April.

Deferring income tax for self-employed individuals

All self-employed individuals will receive a three-month deferment on income tax payments for May, June, and July 2020. Individuals with payment plans will not have taxes deducted over these three months, and one-time payments are also granted a three-month deferment.

Learn more by visiting the IRAS website.


All self-employed individuals qualify for tax deferment.

How to apply

No application is required.

For business owners with non-residential properties

Qualifying non-residential properties will be granted a property tax rebate between 1 January 2020 to 31 December 2020. Commercial properties that have been badly affected by COVID-19, like restaurants, shops, tourist attractions, and hotels, can receive a 100% tax rebate.

Other non-residential properties will receive a 30% rebate on their property taxes.

Learn more by visiting the Property Tax Reliefs page on the IRAS website.


Eligible properties must not be:

How to apply

No application is necessary. The IRAS will contact owners of qualifying properties by 31 May, and owners should expect to receive their refunds by 30 June.

Access to financing

For SMEs with secured loans

Financial institutions in Singapore have committed to working with the government to help relieve the strain caused by COVID-19. One way is by letting SMEs defer the principal payments on their secured loans up to 31 December 2020. Businesses that opt to defer will continue to pay interests during the period where payments are deferred.  


Businesses must be in good standing with their lenders, meaning their payments must be no more than 90 days past due from 6 April 2020.

How to apply

Contact the bank or finance company that issued your secured SME loan.

For businesses with general insurance

Private insurers are working with the government to help companies protect their business by offering installment payment plans for general insurance. Companies can apply to pay their insurance premiums in installments instead of lump-sum payments.


Must be a corporation or SME with business-related general insurance policies.

How to apply

Apply for assistance with insurance premium payments by speaking directly with your insurer.

Additional resources

There are a number of resources to help your business adapt to the challenges of COVID-19, including:

We’ve seen optimistic results from businesses that have quickly added e-commerce capabilities. Learn how to accept your first online payment with Stripe and how to send one-time or recurring invoices.

You can also visit Stripe’s COVID-19 resources page for products, programs, and resources we are building to help your business adapt.