Yes, it is very much possible to drive for Uber under a company name; however, keep in mind there are requirements you will be expected to meet as well as steps you will have to follow.
Uber is one of those companies that brought mind-blowing change to the ride-hailing sector of the transport industry, giving rise to other services with a similar business model.
Uber is not a taxi fleet operator or anything like that but a company that makes use of technology to work as a digital aggregator app platform.
It also allows drivers to do business under a registered company name as long as the business meets Uber’s eligibility criteria.
Requirements to Drive for Uber Under a Company Name
Just as was noted above, there are certain requirements you will be expected to meet before you can drive for Uber under a company name. Those requirements include;
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Business Entity Registration
You must ensure full registration of the company with the requisite government authorities. This includes selecting the ideal legal structure for the company.
In the United States, you will have to choose between sole proprietorship, partnership, limited liability company (LLC), or corporation.
However, it is important to note that all those structures come with their own legal and tax implications, as such take your time to consider your specific situation and financial goals.
After you have registered your business, you will obtain a unique identification number (e.g., Employer Identification Number for corporations or LLCs) that Uber might require for verification purposes.
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Commercial Insurance
Keep in mind that Uber expects businesses looking to drive for the company to possess adequate commercial insurance coverage. This sort of insurance is meant for vehicles used for business purposes.
Aside from that, it tends to provide higher coverage limits especially when compared to personal auto insurance. You will more or less find that this commercial insurance policy features liability coverage, collision coverage, comprehensive coverage, as well as uninsured/underinsured motorist coverage.
Be sure to obtain the right policies because you will be asked to make available proof of your commercial insurance policy when completing your registration forms.
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Business License
Although this will most often depend on your location; however, in most places, you will be expected to obtain a business license or permit before you can start or manage a transportation business.
Note that this license is most often provided by your local government or transportation authority. The primary essence of this license is to prove that you are legally permitted to run a business within that jurisdiction.
Aside from that, you might as well be expected to meet certain criteria, which can include passing background checks, vehicle inspections, as well as driver training programs.
Uber might also want to see documentation that shows that your company is duly licensed and fully in line with all relevant local regulations.
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Compliance with Uber’s Policies
Aside from meeting all legal and insurance requirements, anyone driving for Uber under a company name will have to conform to all of Uber’s policies and guidelines including maintaining a high driver rating, complying with all safety protocols, offering top-grade customer service, and staying in line with relevant Uber rules and regulations.
Note that any lapses or your inability to adhere to Uber’s policies could give rise to the deactivation of your account as well as other penalties.
Steps to Drive for Uber Under a Company Name
To be able to drive for Uber under a company name, there are certain steps you will want to follow. Those steps include;
1. Register Your Business Entity
Just as was noted above, you must ensure full registration of the company and select a legal structure that aligns with your business needs and financial goals.
Also ensure you obtain a unique identification number (e.g., Employer Identification Number for corporations/LLCs) particularly because it is important for every of your business operations as well as for tax purposes.
2. Obtain Commercial Insurance
After you have registered your business, consider obtaining commercial insurance coverage for the vehicle(s) you intend to use for Uber services.
You should make sure that the commercial insurance policies you purchase align with Uber’s specifications and requirements.
This will include liability coverage, collision coverage, comprehensive coverage, as well as uninsured/underinsured motorist coverage.
3. Apply for Business Licenses and Permits
Certain licenses and permits are needed to start a transport business, regardless of where you are in the world. Aside from meeting all requirements stipulated by Uber, you will want to ensure that your business is legally permitted to offer transportation services.
As such, reach out to your local government or transportation authority to know the exact licenses and permits you need to drive for Uber under a company name.
4. Register Your Business with Uber
After you have made sure that your business is properly established and that you have the right license, you should visit the Uber website to register your business.
You would be asked to make available certain important documentation to Uber for verification. This can include proof of business registration, commercial insurance policy, business licenses, etc.
5. Adhere to Uber’s Policies and Guidelines
Coupled with registering your company, you must take your time to understand Uber’s policies and guidelines for drivers.
This will include information on safety protocols, customer service standards, vehicle requirements, as well as driver conduct expectations. Make sure you maintain a high driver rating by offering only top-grade service.