Starting a Private Transportation Services Business in Singapore
The motorways of Singapore have been heavily worked on these days for the government is aware that the land transportation is a significant contributor to the country’s growing business field. Due to this reason, the transportation service in Singapore has been structured as an environment where the investors can easily find their way in. If done correctly, the returns are great, and there are various services that you could provide. So, whether you are a local businessman or a foreign investor, having a private transportation services business in Singapore is always a good idea. And if you want to start one, this is how you can open a transportation service in Singapore.
Register Your Business
The first thing is the same with every business you start in Singapore. You have to register your transportation services business with the Accounting and Corporate Regulatory Authority of Singapore (ACRA). As your business is a private limited company, your business should be registered exactly like that. And if you are from another state or a country, you might also have to hire a local agent to help with your registration.
Know What You Are Providing
From being a public transportation service to a truck business, there are many ways you could move on with your transportation business in Singapore. You will need to understand it and look out for the best way you want to invest your money. Choose one which you think is the most convenient for you and also make sure that it has the potential of returning what you put into it.
Get the Necessary Licenses
This is the last step after Depending on the nature of your transportation business; you will have to obtain the necessary licenses. It is a very important procedure, and the authorities are firm on this one, no compromises are to be made. The licenses you will need are as follows:
- You will need a public service license if you are providing the facility of public transport such as a taxi or a bus.
- You will need an express letter service license, and if you is providing postal services, you will also need a postal services operator license from the Infocomm Development Authority of Singapore.
Also, not to be explained, you are only allowed to hire drivers who have the licenses of the vehicles they are operating. And if you are starting a truck business or such, you must acquire a petroleum or flammable materials transportation license, with the Singapore Civil Defense Force if you are transporting flammable products such as fuel or petroleum.
Comply With the Laws
Once you start your business, it is very necessary you don’t transport things that are not allowed by the law. And also make sure that your drivers know the road rules because there will be consequences if something is done wrong.
I sincerely hope this will help you to know about starting your private transportation services company. And if it did, best of luck with your business.