Scheduled Delivery – Starting a Courier Services Company in Singapore
For the most business-forward idea this decade, look no further than starting a courier services company in Singapore.
Digitalization has undoubtedly made some paradigm shifts in the way the world does business. This is especially notable in the mega rise of online shopping. Consequently, this has led to unprecedented demands for quick, reliable and cheap delivery of goods. Starting a courier services company in Singapore is one of the easiest and possibly best business decisions you can make.
A Necessary Service
At its most rudimentary level, a courier business requires only a smartphone, a website and a vehicle. There are a variety of courier service business models to choose from in Singapore such as Park N Parcel, TaQbin, etc. All are successful in their own right and provide a much-needed service to consumers.
Competition is high in this market, and having a niche selling point can make all the difference between success and failure. For example, same-day express delivery and competitive pricing are some of the factors that people specifically look out for. Customers are also always impressed with high-tech but functional and easy to navigate websites.
However, to transition into a sustainable and thriving business, it is always best to start with the basics. Singapore is a world leader when it comes to conducive business settings. The government has worked assiduously to ensure a lucrative business environment for investors.
As such, starting a courier services company in Singapore is fast, hassle-free and usually takes only a couple of days. However, it is always advisable to engage professional consultants like 3E Accounting, who are familiar with compliance requirements.
Starting a courier business requires you to incorporate and register your company. This is done with the Accounting and Corporate Regulatory Authority (ACRA) of Singapore. The types of companies that you can set up include:
- Sole Proprietorship
- Limited Partnership (LP)
- Limited Liability Partnership (LLP)
- Local Private Company & Local Public Company
After your company is registered, you will need to apply for a corporate bank account and purchase vehicles required by the business. These will need to be registered with the Land Transport Authority of Singapore.
Usually, Singaporean businesses do not need licenses or permits to operate. However, there are exceptions to this general rule, and a courier services company is one that does indeed need a permit.
Licensing issues for a courier services company falls under the jurisdiction of the Postal Services Act. It is applied for from Infocomm Media Development Authority (IMDA). A courier services business will need to get at least one of the following licenses:
- Postal Service Operator License
- Express Letter Services License
Best Foot Forward
It’s always a good idea to get a professional services firm to handle all the fine details when it comes to starting a courier services company in Singapore. You don’t need to worry about compliance issues, rentals or even website design with the right partners. 3E Accounting has all the knowledge, experience and skill needed to save you time and resources in getting your business started.
Contact 3E Accounting today for your business requirements and solutions.