Car Dealer License in Singapore
A car dealer license is required for businesses in Singapore that are involved in the sale of new or used vehicles. This license ensures that the dealer adheres to specific regulations and standards set by the Land Transport Authority (LTA).
Requirements for a Car Dealer License:
Company Registration: The company must be registered with the Accounting and Corporate Regulatory Authority (ACRA).
Financial Stability: The company must demonstrate financial stability and the ability to operate a car dealership. This may involve providing financial statements or bank guarantees.
Operating Premises: The company must have suitable premises for its dealership operations, including a showroom and a workshop for vehicle inspections and repairs.
Staff Qualifications: The company's staff must have the necessary qualifications and experience to operate a car dealership.
Inventory Requirements: The company may need to maintain a minimum inventory of vehicles, depending on the type of dealership.
Code of Conduct: The company must adhere to a code of conduct set by the LTA, which outlines ethical business practices.
Application Process:
Submit Application: Complete the LTA's online application form and submit the required documents.
Assessment: The LTA will review your application and conduct inspections of your premises and inventory.
Approval or Rejection: If your application is approved, you'll receive the car dealer license. If it's rejected, you'll be informed of the reasons and may be given an opportunity to address the issues.
Renewal of Car Dealer License:
Your car dealer license will need to be renewed periodically. The renewal process typically involves submitting updated information and paying a renewal fee.
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