Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
Singapore is a great business destination for foreign and domestic entrepreneurs. It is currently ranked 2nd in Asia on the Ease of Doing Business report released by the World Bank; this great country is recognised as an Asian Tiger. This island nation offers comprehensive options with access to the vast Asian markets. In a small country, finding an affordable office space is a herculean task, and it is paramount for these new businesses to save their rental costs and invest their capital in more business-influencing decisions. Virtual Offices have streamlined this process for businesses as these small businesses do not have to spend money renting physical spaces. However, countries worldwide have put forth various legislations for regulating these virtual addresses to negate any criminal or financial threat to their business culture. This piece of writing aims at giving an outlook on setting up a virtual office in Singapore.
Table of Contents
A Virtual office is a business address available as a virtual space to the business. The employees of such a business work remotely as no physical office is available for the employees’ work. The regular business of the company resumes virtually with the help of video conferencing whilst their operations are managed with the use of software and online processes. The virtual office enables the occupier to receive mail and other essential functions without renting or leasing a space. Virtual offices are very hit among start-ups and new businesses with limited capital; they have to register a physical address for important communication from authorities, and the virtual address acts as their official business address.
The ACRA, the regulatory authority for registering businesses and companies in Singapore, has set up a criterion for registering a virtual business address in the country.
Virtual Office[1] can be set up by any business irrespective of its size, business activity or the type of business structure chosen by the entity. Foreign Companies are also allowed to register for a virtual office after ensuring that all the criteria mentioned above are adhered to. Virtual offices are becoming a trend nowadays due to their easy processing and convenient utilisation by businesses from around the globe.
You can set up a virtual office in Singapore by following the steps mentioned below:
A virtual office has appeared as a lifesaver for many businesses across the globe. It has cut short the expenses of a business entity and made the operations more productive for the business. A virtual office in Singapore can also open an opportunity for small businesses to make their mark in the trade and increase the flow of FDI into the country by offering lucrative business opportunities to foreign investors looking to start their businesses in this great Asian country. These arrangements are an excellent indication towards the AI-driven future of the business arena and increase the rate of company incorporation in Singapore.
Read Our Article: International Business Opportunities in India
A joint venture is a strategic business arrangement in which two or more companies collaborate...
With the rising inflation rates and various other economic factors, wealthy Americans are incre...
Before approaching the new suppliers or any other third parties, you should always go for the v...
With the increasing landscape of Fintech Companies, it is increasingly vital that fintech compl...
This blog gives a detailed description through an audit report for industrial waste by examinin...
Are you human?: 5 + 1 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
It is also known as the Transfer Cost. It is the cost at which the separate divisions or departments of a Company t...
02 Nov, 2019
There are various benefits of company registration in Australia. Australia has been witnessing an economic boom and...
13 Jan, 2021
Chat on Whatsapp
Hey I'm Suman. Let's Talk!