Having a registered address in Singapore is a legal requirement. It is a prominent address that can be seen by the public. Furthermore, you do not need to keep changing your details with institutions. You can use a registered address service to stay updated with the changes made to the address. Here are some of the benefits that you will enjoy by using a registered address service in Singapore.
Having a registered office address in Singapore is a legal requirement
A registered office address in Singapore is a legal necessity for companies that operate in the country. This is the address that will be listed on all official documents for your company. It must be updated on a regular basis with various government bodies. Otherwise, you risk being penalized with a fine of up to $5,000. Having a registered office in Singapore can also be advantageous for SMEs, but they must comply with the conditions for such an arrangement.
The registered office address must be a physical address in Singapore. It cannot be a post office. Moreover, you must make sure that the address that you choose meets the requirements set by the ACRA. The address that you choose must be visible to the public during office hours. Additionally, it will be the address that government bodies send correspondence to.
It is a prestigious address
A Singapore registered address service is used by financial institutions and other legal authorities to receive and send mail to their companies. It is important to be able to check incoming mail to keep track of important documents, such as a reminder to file annual reports, or a new government scheme. This type of address is also beneficial for foreign companies that do business in Singapore, but do not have the room for a physical office.
Using a registered address service in Singapore can be a convenient and affordable solution for companies that are still in the initial stages of their business. A registered address in Singapore will give your company credibility within the business community, which can attract potential investors and customers. In some cases, a registered address may be a requirement for a business to be incorporated in Singapore.
It is accessible to the public
Registering an address in Singapore is important for businesses, both foreign and local. It helps you receive incoming mail, which may include important reminders like annual filing requirements or changes in government policies. It’s also helpful for meeting with potential customers or investors; an office in an industrial park might not be easy to reach or convenient for visitors. If you’re planning to meet customers in person, having a business address near a well-known landmark is a great idea.
If you’re running a business in Singapore, your address will be available for public inspection through ACRA. It must be available for public viewing for at least 3 hours every working day. If you’re a resident, you can also apply to use your home address as a registered office. Just be sure to obtain approval from HDB or Urban Redevelopment Authority beforehand.
It is not required to be updated with institutions
If you are in Singapore and are operating a business, you should make sure that you have a registered office address. This address is where all correspondence from government bodies will go. This could include reminders for yearly requirements, new incentives, or changes in policy. In addition, it will be where all bank correspondence will be sent. You should check your incoming mail frequently and consider using a registered address service.
Depending on your institution’s requirements, you may be required to show proof of address. Often, this proof can be as simple as your National Registration Identification Card (NRIC), which contains your name, address, and photo. In most cases, the NRIC is accepted as proof of address when you are in person. In other cases, however, you will have to provide other documents. If you don’t have any of these documents, you won’t be able to submit your application.