For any business, a registered office and a mailing address are their primary evidence of existence. Business mailing address is not just essential for contact purposes. Opening bank accounts and corresponding with clients, creditors and shareholders’ require the existence of a proper mailing address and registered office.
For newly incorporated businesses and small-scale sole proprietorships, the first address used at the time of incorporation is usually the business owner’s residential address. This common practice is riskier and often involves double verification by the Companies Commission. As an alternative, virtual offices and private mailboxes offer a cost-effective and risk-free solution, also helps your company build a strong corporate image instantly.
A virtual office and executive suite allows business owners and employees to work without being confined to a particular space. Using laptops, smart phones, internet access and other telecommunication methods, the normal business activities can be conducted regardless of the geographical location of the employees and the business owners.
Compared to a PO Box and a Registered Office, a virtual office provides considerable flexibility in terms of cost saving, load sharing and communication with internal and external parties. For foreign companies, virtual offices provide several advantages over the traditional office setup. Some of them are defined as follows:
Renting a PO Box from the native country will allow the investor to establish a separate mailing address for the business, keeping their residential premises safe from business communication. However, this arrangement raises certain issues. For instance, most businesses do not accept a Secretary of State-registered PO Box as the official address of the business in question. Real estate and licensing can be a problem.
Furthermore, some countries impose a check and balance over the communication and mails sent to the state-registered PO Box address. This restricts the flow of information to the business – an issue that is well taken care of by virtual offices.
Typically, obtaining a virtual office address is cheaper than a PO Box address. Instead of a postal code, a real street address is provided to the business owners. In addition, there are no rental agreements and/or security deposits involved. This budget-saving technique is advised for all businesses opting for a traditional office approach while saving up on rent expense.
*All the functions of a traditional office available at a fraction of the cost.
The procedure for applying for a virtual office in Singapore and/or Malaysia is easy. A four-step registration and verification process is required and a virtual office can be availed with just a few clicks and easy payment method and terms.
Several virtual office providers, such as Paul Hype Page & Co. offer ancillary services connected with renting an office. This includes the provision of conference room rentals, leisure arrangements and virtual secretaries. Furthermore, all mailbox series are accepted and packages are signed by the virtual office lenders and appropriate and timely communication with respect to the arrival and dispatch of such mails and packages is made to the business.
Make your business presence virtually anywhere.
To learn more about the benefits of Virtual Offices over PO Box and how such an arrangement can benefit your business, feel free to contact us!
Categories: Business Opportunities in Singapore