A virtual office address in Singapore is one of the options available for use to register with ACRA.
When you register a business with ACRA , you will be required to provide a local Singapore address for incorporation purposes. You will have 3 options.
Use your Singapore residential address. If you live in a private property, you can simply use the address. If you live in HDB, you will need to apply for approval. Key points for HDB application:
- It costs $20 for approval and the approval is valid for 5 years.
- There are certain trade restrictions.
- You are required to install fire extinguishers and smoke detectors.
- Not allowed to use for storage and warehousing.
This option has the lowest cost but an important consideration is that your residential address will be exposed and when things go awry, people might come knocking on your door.
Renting your own office space or serviced office. Either way, you will have an address for incorporation and a physical space for work. A CBD address will set you back by anything from $850 to $3000 per month depending on size and facing.
A subscription to our virtual office address. You will get a prestigious CBD address to use for client facing, business incorporation while having the flexibility to work out of anywhere in the world. We will receive and manage your physical incoming mails. The best part? It costs just $8.99 per month for the standard plan.
The best option isn’t always the same for everyone. It really depends on the stage at which your business is in. For young and new businesses, virtual office solution will help to keep costs really low so you can focus your funds on marketing, product development, etc. We also have mature businesses who have a large office space outside of CBD but subscribe to our virtual office solution for a prestigious CBD address used for fronting.
If you have questions, please feel free to get in touch with us!