How to set up a Virtual Office in Singapore?
Your business idea needs a destination.
And you chose Singapore as the preferred one.
But before getting started with it, you need to have a registered address in the country of registration.
Ideally, you would rent or buy a place for your operations but wouldn’t that be a bit costly?
Then, what do you do?
“An office doesn’t necessarily have to have people confined within 4 walls and working.”
That’s why you can opt for a Virtual Office.
Setting-up a virtual office in Singapore plays a vital role in many companies’ operations, and you can do it too.
But first, let’s start with the basics.
Guide on how to set up a Virtual Office in Singapore.
What is a Virtual Office?
A virtual office in any country enables business owners and their employees to operate from remote locations. They can conduct normal business functions through the internet.
Through a virtual office, you can maintain a physical address for mails and other functions, but you don’t have to pay rent for it.
You can easily set-up a virtual office in Singapore as Accounting and Corporate Regulatory Authority (ACRA) recognises such offices only if the following criteria are met:
- Office is open for at least 5 hours on each business day.
- Office has a physical address in Singapore, and it cannot be a P.O. Box number.
Official documents can be mailed to this address; hence you must ensure that you are able to check the contents of the incoming mail.
Who can register a virtual office in Singapore?
Virtual offices can be used by any business entity in Singapore, whether small or big. It can be used by foreign companies as well as local companies.
It’s just the process of replacing traditional business offices with more flexible and dynamic spaces that make business operations easy.
Advantages of having a virtual office in Singapore:
- Huge Savings on Expenses:
Office spaces in Singapore don’t come cheap and virtual offices are the best way to save those huge bucks. When you are starting in Singapore, it’s essential to direct your funds in channels that would bring in more revenue and virtual offices play a massive role in achieving that.
- Makes your Operations FAST:
Everything runs on technology because things that used to take long hours are getting done in a couple of minutes. Thanks to the global pandemic, people have now moved from working in office spaces to working from the comforts of their living room with technology.
Technology saves time on many things, and setting up a virtual office will help you adapt it fully, thus ensuring faster operations.
- Enhanced Effectiveness:
Your staff don’t have to spend hours travelling to the office as they can comfortably work from home and appear fresh. This shall enhance their effectiveness and make them committed to their work in a better manner.
- Gives flexible options:
Having a virtual office will help you explore flexible options for your operations. It can help you expand easily and create an ecosystem wherein things can be done easily without following a strict hierarchy
How do you set up a virtual office in Singapore?
You can set-up a virtual office in Singapore by following the below-mentioned steps:
- Determine your Business Strategy:
This part is common among all businesses, and you need to do that as well. It’s important as it will give you a broad idea as to whether you need a virtual office or not.
- Acquire the necessary resources:
If you need a virtual office, you must acquire the necessary resources for your virtual office. These can be important video conferencing tools, human resource tools, and others.
You also need to tie up with on-ground resources to provide you with the resources necessary.
- Set-up a valid Singapore Address:
As mentioned above, ACRA requires a valid Singapore address so that you can start with your virtual office. For this, you need to identify a space wherein you can receive your mails.
- Form your Business:
As a business owner, you should know how you are going to operate. You have to select the business structure and check whether it sits well with your plan.
After deciding on this, you can register your company with ACRA and get started with the hiring process to operate as a full-fledged business entity.
ScaleX Business ensures that you can achieve your business dreams with its innovative, business-friendly, and dynamic services.
We shall help you set-up your virtual offices with our unique set of services that only lets you think of your business plan. You don’t have to worry about other factors.
Get started with a virtual office in Singapore with ScaleX Business and see how your business grows dynamically with flexibility and enhanced growth.
