UBER in Singapore
UBER is a registered company in partnership with Lion City Rental, have together accrued an authorised capital of S$100. The company offers a franchise of rental cars for those who wish to work as a taxi driver under the trademark UBER. It is common knowledge that buying a car in Singapore is expensive. Taxi’s and car rentals are the means by which other companies are providing taxi services in Singapore.
UBER decided to start offering car services for more than half the price of other rental companies such as TransCab or Comfort, costing an average of S$ 47 per day for the price of at least 40 UBER trips with passengers per week. The business model of UBER in Singapore is built on the principle of sub-leasing, which allows UBER to save on taxes on salary, giving UBER the cheaper, more competitive edge in Singapore.
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