All businesses in Singapore are required to have a business address. However, there are some who might not be completely certain if the company laws of Singapore permit a company to have multiple business addresses. The information displayed here will provide the answer to that question.
A business address is defined as the location at which the corporate operations of a particular business are conducted. Every company in Singapore is required to have a business address for various reasons. This requirement is specified by the company laws of Singapore. The business address of any Singaporean company is required to be located in Singapore. It may not be a Post Office Box number. It is usually a commercial address, but in certain cases it could be a residential address. The business address of a company, which is also known as its registered address, is to be used for all of the business’s legal matters. It will also serve as the location to which any official messages will be sent. All of a business’s statutory records are to be kept at its business address.
In most cases, the business address of a Singapore-based company is the same as the address of the company secretary. Such is the case because the statutory records of the business are located at the business address and are maintained by the company secretary. For this reason, the company secretary must be based at the location stated as the company’s business address.
On a related note, one of the services which we at Paul Hype Page & Co provide is that of the appointment of a company secretary. We will select a person who is fit to take up the role at any company which requires one. Once you have employed the person whom we have selected for you, you will then be able to put more emphasis on the direct operations and management of your company so that it will prosper and thrive.
Why Business Addresses Are Important
One of the primary reasons for the importance of business addresses in Singapore is, as has been mentioned, the fact that a company’s statutory records are to be kept there. The maintenance of a company’s statutory records is extremely important because doing so would ensure the regulatory compliance of the company, thus preventing it from violating any laws or compliance requirements which exist in Singapore. Therefore, business addresses are an important part of the measures taken by a company in order to remain compliant with existing laws.
Business addresses are also important because they allow government authorities to monitor the business and its activities if such is necessary. A business without a business address cannot be adequately monitored by the government, which may in turn allow it to conduct unethical or illegal activities.
Business addresses are to be used for legal matters and official correspondence; this fact represents another reason why they are of great importance. All legal matters of a business ought to be addressed as soon as possible while all official correspondence should receive a prompt response. Such would not be possible without a business address; therefore, business addresses are necessary for the handling of all legal and official issues which pertain to a company.
Why Singapore Businesses May Not Have Multiple Business Addresses
Any business based in Singapore is restricted to just one business address; it may not have multiple business addresses. Statutory records of a Singapore business are to be maintained at its business address. There may only be one location in which such records are to be kept because it would be impossible to coordinate statutory records between two different business addresses.
Having multiple business addresses would also make it impossible for the Accounting and Corporate Regulatory Authority (ACRA) to provide its approval during the incorporation phase. This is because ACRA requires that just one business address be provided. Although residential and alternate addresses may also be supplied, neither is allowed to be used as a substitute for a company’s business address.
Multiple business addresses would also create confusion among the business’s customers. Customers would become unsure of the exact location of the business because of the contradictory information regarding its business address. Having just one business address would thus prevent a business from having to face such a problem.