If you are handling a business that requires large quantities of products, you need big storage space, and a warehouse refers to a large storage unit or a building. Either you can get your own space or get a storage warehouse for rent. Renting is a better option for cost management, where you can invest in renting out a warehouse when you require and for the period you desire.
Why do people in Singapore prefer renting out warehouses?
Singapore follows certain procedures to own a warehouse, and a license is required to run a warehouse. Only the approved companies in a licensed warehouse can store their products.
A licensed warehouse scheme allows all approved countries to get storage warehouse for rent and mainly to store imported liquors, automobiles, blends of biodiesel and petrol, and tobacco for as long as the client desires.
Warehouses, to get qualified under either of the license warehouse plans, must have this:
– Valid Customer Account.
– The dutiable good’s responsibility is of the owner. He has to be answerable, in charge of security, and control the goods.
– GST registered with the Inland Authority of Singapore.
– Must have a good acquiescence record with customs of Singapore.
– Procedures followed to maintain stock records must be efficient along with the warehouse procedures.
– The premise should be licensed and secure.
The license fee varies from S$2500 to S$21000, depending on the projected potential duty. Projected potential duty is tax duties and customs duties on the maximum products in a licensed premise.
Facilities a warehouse provides
The size of a warehouse differs in terms of the land they’ve acquired, and according to that, the stock would be managed, so here are some of the key facilities provided by the warehouse.
- Loading docks signifies the space meant for loaded and unloaded vehicles.
- Storage space covering about 180,000 square ft.
- Stocks can be maintained at multiple levels horizontally, also known as a racking system.
- More than 20 loading bays.
- Every type and size of stock could be maintained courtesy of high ceilings and warehouses without pillars.
- Even if the stock isn’t eligible for in-house storage, then there is an outdoor space of more than 40,000 square feet for out of voyage cargo.
- To ease out the loading and unloading process, there are a large number of dock levelers.
As the technology is developing, the future of warehouses is also developing. In the future, there would exist ingenious and eco-smart systems.