Are you looking to register a commercial vehicle in Singapore? Understanding whether to register under a company name or an individual name is essential for compliance, tax benefits, and operational efficiency. This comprehensive guide breaks down the registration process, requirements, and key benefits of both options.
Why Register a Commercial Vehicle in Singapore?
In Singapore, all commercial vehicles—including vans, lorries, and pickup trucks—must be registered with the Land Transport Authority (LTA) before they can be legally operated for business purposes. Whether you are a startup, freelancer, or established corporation, choosing the correct registration method can impact your business finances and operations.
Company Name vs. Individual Name Registration: Which is Best?
1. Registering a Commercial Vehicle Under a Company Name
Key Benefits:
- Brand Credibility – Enhance brand recognition by displaying your business name and logo.
- Liability Protection – The company holds ownership, reducing personal financial risk.
- Tax Advantages – Eligible for tax deductions and corporate benefits.
- Seamless Business Operations – Ownership remains with the company even when employees change.
Requirements:
- ACRA Business Profile (valid within the last 14 days)
- Unique Entity Number (UEN)
- Authorized Representative’s NRIC/Work Pass and Authorization Letter
- Valid Commercial Motor Insurance
- Certificate of Entitlement (COE) for the vehicle category
- Proof of a registered business address
2. Registering a Commercial Vehicle Under an Individual Name
Key Benefits:
- Simpler Process – Fewer documentation requirements compared to corporate registration.
- Lower Costs – Avoid company registration fees and administrative costs.
- Flexibility – Ideal for freelancers, self-employed individuals, and small business owners.
Requirements:
- Singaporean NRIC or valid Work Pass (Employment/EntrePass for foreigners)
- Proof of business operation (e.g., Hawker/Farm/Food Retail License if applicable)
- Valid Motor Insurance
- Certificate of Entitlement (COE)
- Parking Certificate (if applicable)
Step-by-Step Guide to Registering a Commercial Vehicle
Step 1: Obtain a Vehicle Approval Code (VAC)
- Apply via LTA’s portal.
- Pay the $274.68 application fee.
- Ensure your vehicle passes an inspection at an LTA-authorized center.
Step 2: Submit Required Documents
- Register online via LTA’s portal or visit the LTA Customer Service Centre.
- Provide identification, business documents (if applicable), COE, and insurance proof.
Step 3: Pay Registration Fees
- Vehicle Registration Fee: $350
- Additional Registration Fee (ARF)
- Quota Premium for COE
- Road Tax
- Processing Fee: $28.34
Step 4: Install Vehicle License Plates
- Once registered, ensure your vehicle’s number plates are affixed within 3 days.
Step 5: Display Side Markings (For Light Goods Vehicles)
If you own a Light Goods Vehicle (LGV), ensure the following information is displayed on both sides:
- Business/Owner’s Name
- Business Address
- Registration Number
- Vehicle Passenger Capacity
Company vs. Individual: Which Registration is Right for You?
- Register under a company name if you plan for business growth, need tax benefits, or want to protect personal assets.
- Register under an individual name if you are a freelancer, self-employed, or want a straightforward registration process.
Registering a commercial vehicle in Singapore can be complex, but OneMotorSg.com simplifies the process for you. Whether you need guidance on COE bidding, document submission, or compliance checks, our team ensures a seamless experience.
