By Vlad Cuc, specialist in company formation matters
In an era where digital technology is employed in most of the industries, there are also sectors which still need using conventional methods. One of these industries is the postal services sector in which individuals and cars are used to deliver various packages and the usual mail. Even if more and more enterprisers coming to Singapore are choosing to invest in economic sector which uses technology, it is recommended to pay attention to the postal segment which is suitable for small entrepreneurs who can set up courier businesses quite easy.
The opening of a courier company in Singapore is based on the Postal Services Act which was enabled in 1999. The law was last amended in 2012 when the postal services licenses for setting up such business were renamed. Our Singapore company formation specialists can offer more information on the legislation related to starting a courier business.
The first and most important step to create a courier business in Singapore is to register a company with ACRA. For those interested in setting up a small business, the sole proprietorship is recommended, as for those thinking about a larger one the limited liability company is more appropriate.
No matter the type of structure you choose, our company registration agents in Singapore can help with the company formation procedure.
Once the Singapore company formation process is completed, the business owner can purchase the car or any other vehicle which will be used for the courier company or even create a car fleet which must be registered with the Land Transport Authority. Also, the operator must have an insurance contract with a financial company for the purpose of protecting the goods or mail processed.
Once the steps above have been completed, a courier business must undergo the authorization process with the Infocomm Media Development Authority in Singapore (IMDA). Courier companies may apply for one of the two postal services licenses available:
No matter the type of license, a Singapore courier company will apply for a solid 3-year business plan must be filed with the IMDA. The plan must be supported by documents about the company, such as the certificate of incorporation and information about the shareholders of the company.
For full information or assistance in opening a courier business in the city-state, please feel free to contact our company formation consultants in Singapore.