In order for your company to be compatible with Singaporean law when it is founded in Singapore, a number of fundamental criteria must be completed. These standards must be met when your company is created in Singapore.
Companies in Singapore are required by law to have a specified “registered office” in Singapore when they are established, as stated in Chapter 50 of the Companies Act of Singapore.
For an address to be deemed a registered office, the following must be met:
Every working day within normal business hours, it must be open and available to the public for at least three hours for all messages and alerts to be delivered. So What are the Key Considerations for a Registered Office Address in Singapore? The address must be that of an actual Singaporean business.
A post office box address is not permitted.
Reminders of annual duties and information on new incentives will be sent to you by different government agencies as well as letters from financial institutions. On a regular basis, you should go through your mail and look for any important messages.
Making your house your company’s main place of business
If you are a Singaporean resident, you may choose to have your home address as your company’s registered office address. In accordance with the Home Office’s plan, this may be done via HDB or URA. When registering your home address, you must meet a series of conditions, and if any of those conditions are breached, your authorization may be revoked.
The Home Office Scheme authorises some commercial endeavours, so keep this in mind as well. For more information on what activities are permitted on behalf of your firm, go here. Food catering, manufacturing, courier services, beauty salons, and a slew of other conventional companies are prohibited from operating here.
You’ll have no privacy if you use your home address since it’s deemed public information. A company’s registered office location is easily accessible to the general public. While many business owners think it is prudent to have a separate registered office address in case anything goes awry, many continue to operate their businesses from their homes.
To make use of your corporate service provider’s registered office address, you must first sign up.
Even if you don’t reside in Singapore, a registered office address service from your corporate service provider is usually the finest and most popular option. In reality, this is the preferred option of the vast majority of individuals. Find out why this is so:
Investors and customers are more likely to be drawn to a company’s location if it has an office in one of the most notable central business districts. An office in the financial area will also be beneficial to this end. On promotional items such as stationery, business cards and other printed goods, this address may appear. If a corporate service provider has an address in one of the most desired locations, many businesses would want to engage with them.
The cost of renting an office space may quickly pile up! Working hours in Singapore may be different from those in the nation where you live, so be aware of this while you’re on vacation. While outside Singapore, even if you regularly check your email, you won’t be able to read any emails received from Singapore.