Tips to Start a Home Business with a Virtual Office in Singapore
First things first, what is a virtual office solution? Simply put, such an office provider lets you rent their business address and use it as your own. This is especially advantageous for startups since they are already taking a lot of risks and can escape leasing of office space by renting a virtual office. Since you will need to get registered with the ACRA (Accounting & Corporate Regulatory Authority) if you want to run a legal business in Singapore, you can use their business address as a registered business address. Along with the advantage mentioned above, the new address can also be used for:
- Business cards and other official documentation
- Opening a bank account
- Filling any official forms
Duration of SubscriptionWhile many virtual office services will ask their clients for a minimum subscription period of 6 months, it isn’t necessary to take them up on their offer. Ask if you can sign for a shorter or longer period and most companies will try to accommodate you.
Changing Service ProvidersIf you are dissatisfied with the way your virtual office provider operates, then you need to switch as soon as possible. Be on the lookout for troublesome policies that your service provider might be forcing you to accept.
Termination of ServiceIf you intend to terminate service with a provider for any reason, ensure that you have read their terms and conditions carefully. Most of them would have conditions for refunds and you need to know about them before you terminate their services.
ACRA Registration or Virtual Office ServiceIt is better to get yourself subscribed with a virtual office service provider so that you can use their address during registration with the ACRA. Additionally, make sure that you know when you can start using their business address legally before filling out any official documentation.
Matters of CorrespondenceConfirm when your mail will be delivered to you and how safe the forwarding of mails is when it comes to your virtual office service provider. Instruct all your senders to write down the name of your company on each letter or parcel. If they fail to do so, the service provider might have to open them and check. Similarly, using your personal name on the address in lieu of your company’s name won’t work and your mail might be opened.
To learn about other factors that you might have to deal with when renting virtual office spaces, you can visit us today! Or, play things more smartly and let Centennial Business Suites take care of all your virtual office needs!