Registering a business address in Singapore can be confusing especially if you are a new business owner. However, incorporation services in Singapore can help you choose the best solution for your business needs. Read on to learn more about this service and its requirements. Once you are aware of these requirements, you can register a physical or virtual office and get your business off the ground.
Registered office address
Registering your company in Singapore requires you to provide a registered office address. This address is visible on the official company documents and must be updated regularly. Failing to do so can result in fines of up to $5,000. Small businesses can also consider alternative registered office address options, but they must meet certain conditions. For example, SMEs may be able to use their HDB flats as their registered office.
A virtual office in Singapore can provide a variety of benefits for your business. For example, you can receive a professional business address from a reputable building, while you’re still working from home. This can help you keep your costs low and help you grow your business while providing a professional image for your business.
While many modern businesses don’t need to be confined to a desk, the registered office address is still important for a variety of reasons. For example, if your registered address is your home, clients might question your legitimacy. In addition, registered offices have to be open to the public five hours a day, which might not be ideal for many business owners. Additionally, a registered office address is considerably less expensive than a traditional office rental in Singapore. On average, a Singapore office rental costs $2 to $16 per square foot.
Requirements for a registered office address
A registered office address is important for your business, as it will be displayed on your company’s official documents. It’s also required that you keep your registered office address up to date with different institutions in Singapore. Failure to do so can result in a fine of up to $5,000. Some SMEs may choose to use alternative registered office addresses, which must meet certain requirements. For instance, HDB flats can serve as registered office addresses under the Home Office Scheme.
Cost of a registered office address
Registering a Singapore registered office address is a legal requirement for companies looking to incorporate. This address is a place where people can contact a company and get all the relevant information. It also serves as a place where a company can receive correspondence and notices from government bodies. In addition, you will receive correspondence from banks at this address.
Requirements for a virtual office
Singapore is one of the most sought-after business locations in Southeast Asia. A virtual office is the easiest way to establish a local presence in the city. Besides being cost-effective, it also offers a professional corporate image and allows you to work from anywhere. If you are planning to set up a virtual office in Singapore, here are the requirements you should meet: