Renting a Virtual Office in Singapore
If you are starting a company in Singapore, you are likely to stumble upon a difficulty- registered address for your company’s office. You have to put one on the application for incorporation. Without it, your company cannot be formed. Hiring virtual office Singapore or registered office address service is an elegant solution.
The statutory requirement is put out by Accounting and Corporate Regulatory Authority (ACRA). However, the business owners cannot sign a contract to buy or rent an office in the name of their company without owning it. And, they cannot register a company without a registered office address.
Those who are new to Singapore find the situation difficult. For them, it is similar to the paradox, “Which came first, the Egg or the Chicken?” You can get over this awkward situation by employing an experienced Singapore virtual office address services provider.
Why You Need a Registered Office Address in Singapore
Now, we come to the reason why ACRA insists on you having a registered address for your company’s office in Singapore.
ACRA’s criteria states:
- The office must be open and accessible to all for at least five hours during ordinary business hours on each business day
- The office address should be a physical office address located in Singapore.
- The address cannot be a P.O. Box
It is for the benefit of investors and other individuals who may decide to visit your company. On the other hand, the officials from the various regulating agencies may need to call upon you to inspect your company folder or other documents.
The regulating authorities and bodies use registered address to send their correspondence to the company. Checking the contents of the incoming mail is vital. It could be the last reminder of annual filing, changes in policy, new government scheme, etc. In fact, it is a good practice to have a registered office address, as financial institutes like banks also use it for sending their mail.
Renting A Real Office OR Virtual Office
The solution is actually a blessing in disguise for the foreign business owners who want to use their budget judiciously. In Singapore, space is scarce and the office rents are high.
The setting up of a physical office needs a huge amount. You can avoid the costs by setting up a virtual office in Singapore. It takes only a couple of hours to do so. For a small fee, SBS Consulting Pte Ltd can provide you with the following services:
- Registered office address
- Mail notification
- Mail forwarding
Some of the services providers even go on to provide additional facilities like; meeting room, internet, video conferencing, etc. This offers an excellent proposition to a foreign business owner visiting Singapore from time to time.
They just have to pay affordable fees for the use of these facilities which is far cheaper than setting up a physical office. It also means, having more money to spend on their marketing campaign, market surveys & research, and fine-tuning products.
Choosing to set up a virtual office in Singapore over the real one also means having more budget for developing your business website. It is the most essential tool for maintaining your online presence and branding of your company.
Who Can Use a Virtual Office in Singapore
It is a mistake to think that a registered address or virtual office in Singapore is only useful to the foreign business owners. Even small, medium, and big local businesses can use it to further their business goals.
Rent a Virtual Office Located in CBD
It matters where you invite your potential customers and investors for the meeting. Your office located in an industrial park may not be easily accessible. It may also happen that your visitors are working under time-constraint. It will be such a nice thing to meet them somewhere in the heart of the city or near a well-known landmark.
It is understandable that you may not want to spend on an office located in a Central Business District (CBD). You may also be working out of woods, but, inviting them to a virtual office located in CBD is going to create a positive impression at a very affordable cost.
HDB Home Office Owner
The service is especially useful to the owners that have taken advantage of HDB Home Office Scheme to set up their business. After renting a Singapore virtual office address they do not have to follow the ACRA’s criteria mentioned above. It also releases them from the restrictions on the type of the business and the business activities they can engage in.
Even a cheapest virtual office in Singapore is enough to keep their home address out of circulation. It goes a long way in maintaining their privacy. And, it is very businesslike to have a prominent Singapore virtual office address in CBD on our business cards, letterheads, and corporate collateral. It is good for advertising your business.
SBS Consulting Pte Ltd’s Virtual Office in Singapore
Our annual package for a virtual office in Singapore comes at $239*/Year.
We also offer,
|Scanned emails 2 times a month|| |
|Scanned email every week|| |
|Twice a week|| |
|Virtual Office Singapore (Complete Package) – $239*/Year|
*All prices exclusive of 7% GST (Goods and Services Tax)