Foreign investors interested in the transportation industry have various options depending on the amount they are willing to invest. If car repair shops are profitable, so are businesses which have as an object of activity taxi services. This is because the number of Singapore citizens leaving their cars at home and choosing alternative transportation means is on the rise.
If you are interested in starting a cab company in Singapore, you must comply with several regulations imposed by the Land Transport Authority. Our Singapore company formation consultants can offer more information on these regulations.
Once the object of activity has been established, the investor must register the taxi company with the Singapore Accounting and Corporate Regulatory Authority. One must have all the paperwork prepared and the car fleet purchased before starting operating. Also, because only Singapore citizens are allowed to obtain a taxi driver license, foreign investors opening taxi companies in the city-state benefit from various incentives offered by the government which stimulates those who hire personnel from the local workforce.
Our company registration specialists in Singapore can assist with the company formation procedure. They can also offer additional information on the incentives available for taxi companies in Singapore.
The taxi driver license is a special permit which can be obtained only by Singapore citizens with a valid driver’s license. However, there are other requirements one must fulfill when opening a tax company in Singapore and hiring personnel. The taxi driver must:
The Singapore taxi driver license is issued by the Land Transport Authority must be renewed every three years.
For full information on how to set up a taxi business in the city-state, please contact our company formation agents in Singapore. They can also assist with the Singapore company formation procedure.