Because of its strategic geographical location Singapore has become very attractive for international freight companies. During the last years Singapore has modernized its infrastructure which has led to an influx of foreign investors setting up transportation companies in the city-state. Singapore’s roads and motorways have been developed in the best manner in order to link with airport and harbor routes, and thus providing transportation operators with excellent connections. Moreover, the Government has worked very closely to the Land Transport Authority to provide an appealing environment to foreign transportation operators wanting to have an established presence in Singapore.
For information related to incentives in the transportation industry you can get in line with our Singapore consultants in company formation. You can also request our specialists’ help if you want to open a company in Singapore.
The video below also shows the main steps one needs to follow in order to open a transportation business in Singapore:
In order to set up a transportation business an investor must first open a company in Singapore and then obtain the necessary licenses according to the company’s objects of activity. The first step will be to reserve a company name and then submit the Articles of Association with ACRA. The investor will also be required to appoint a local agent who will handle the company registration procedure.
In order to open a transportation company in Singapore one must apply for different licenses with the authorities. One will need the following:
If transporting dangerous goods, the Singapore transportation company must obtain a petroleum or flammable materials transportation license with the Singapore Civil Defense Force. Transportation companies must also hire drivers who have obtained the necessary driving licenses according to the type of vehicle they will be operating.
The legislation for transportation companies is very strict so if you want to open a company in Singapore we invite you to contact our specialists in order to make sure you comply with all the legal requirements for setting up this type of business.