If you have a new business, registering a Singapore business address can be an intimidating task. Fortunately, there are incorporation services in Singapore that can help you find the right solution for your needs. There are a few things to keep in mind when choosing a business address in Singapore. For example, if you are registering your business in Singapore, you should be aware of the Home Office Scheme.
Home Office Scheme
If you live in Singapore, you can apply for a Home Office Scheme, which will let you use your home as your registered office. The scheme is administered by the HDB and the URA, and it has certain criteria that must be met in order to be approved. A home office in Singapore is not suitable for every type of business, however. Some businesses, such as food catering, courier services, beauty services, and even manufacturing, will be excluded.
If you’re a small business owner in Singapore, you might want to consider this option. If you’re just starting out, you can work from home and still have a business address in the city. In order to use the Home Office Scheme, you need to be at least 18 years old, have full legal capacity, and be a Singaporean resident.
Registered office address in Singapore
If you have a company registered in Singapore, it is important to have a registered office address. This will appear on any official company documents. It is also important to keep this address updated with various institutions. If not, you can be fined up to $5,000 if you are found to be operating without a valid address. A registered office address is also necessary for SMEs to operate legally in Singapore. Depending on the circumstances, an HDB flat or other private residential property can be used as the registered office address of a company.
It is important to note that the registered office address of a company must be a physical address in Singapore. This is important because government documents will be sent to this address. It is also important to remember that this address is not necessarily the same location where the company actually conducts its business activities. Even if you move, sell or change your business location, you must update your registered office address with ACRA within 14 days of making the change.
Costs
If you’re planning to incorporate your business in Singapore, you’ll need a local office address. This is required under the ACRA (Application for Corporate Registration Act). Before you can incorporate your business in Singapore, you’ll need to find a Singapore business address. The costs of renting a basic serviced office for two to three employees range between S$2,000 and $3,000 per month. If you need additional amenities, expect to pay an extra $20 to $50 per hour.
Having a Singapore business address has several advantages. For one, it gives your company a more professional image. Clients might perceive your business as less credible if they don’t recognize your physical address. Another benefit is that a registered address saves you the costs of renting an office. Renting an office in Singapore costs about $2 to $16 per square foot.