Having a business address in Singapore can be very important for your company. Considering the fact that over 7,000 multinational companies call Singapore their home, it can be a great advantage to have a physical office address. This allows you to take advantage of a variety of commercial opportunities. The added advantage of having an address is that you can use it from anywhere.
Registered office address
In Singapore, it is important to have a registered office address, so that any correspondence from the government or regulatory bodies can reach you. You might be getting notices about changes in policies, annual filings, or a new government scheme. It is also helpful for foreign businesses to have a registered office address. However, office space is scarce and office rent is high.
If you want to register your business in Singapore, it is important to find out the minimum requirements. To register a company in Singapore, you must have one shareholder, one resident director, and one company secretary. Your company should also have a Singapore registered office address, which is open to the public for 3 hours. A registered office is also where your company will store your incorporation documents and financial statements.
Home-based business address
Having a home-based business in Singapore can be a great advantage for a business owner. Not only do you save on office rent and the hassle of getting into and out of rush-hour traffic, you can also work at your own pace and maintain a work-life balance. Besides, you can set your own hours without worrying about the need to work in the early hours of the morning. With these advantages, running a home-based business in Singapore is becoming a popular choice for many Singaporeans.
The first step in establishing a home-based business in Singapore is to register your business with ACRA, which regulates businesses in Singapore. To do this, you can use BizFile or a SingPass ID.
Required by institutions
When you establish a business in Singapore, it is vital to have a physical presence. This is necessary to comply with regulations. For example, you will need a local registered office address to set up a bank account. And you’ll need this address to receive mail from government bodies. In addition to this, you’ll need to provide this address when registering for a business license in Singapore.
While this may seem like a hassle, it is actually a legal requirement. The registered office address is the physical address where people can visit to inquire about your business. Generally, it is staffed by an employee during office hours and receives government notices and communications. It also receives correspondence from banks.
A business address in Singapore can be a valuable asset for a company. It can be used for advertising and promotional purposes. It can also be used for holding meetings and interactions with clients. It can give the impression that the business is well established, has a lot of capital and is a professional business.
In addition, it can be used for complying with Singapore regulations. For example, registered offices in Singapore must have a local address. This is required by the Companies Act, Cap. 50. Furthermore, the address is where government agencies will send mails to companies. Therefore, it is essential to check it regularly.