The concept of virtual offices has gained much popularity, especially because of the flexibility and cost-friendly nature. Many entrepreneurs or companies often wonder one day, is virtual office legal in Singapore?
Yes, virtual offices in Singapore are perfectly legal as long as they are set up in concurrence with local laws and regulations.
The Accounting and Corporate Regulatory Authority of Singapore, aka ACRA, requires all registered businesses to operate a valid local business address for receiving official correspondence and notices of a legal nature. In substance, if such a virtual office address is provided by a certified service provider, then it does meet the legal requirements and hence can be adopted for companies operating within the country
Requirements for a Legal Virtual Office in Singapore
The following preconditions should be satisfied to make a virtual office legal in Singapore:
- Registered Local Address: The virtual office must have a physical address in Singapore where official mail can be accepted at any time of the work.
- ACRA Compliance: It requires that any provider of the virtual office should be authorized to sell these services by ACRA.
- Operational Accessibility: It is thus very important that an organisation ensures the address of the virtual office remains active for receiving legal and administrative correspondence.
Conclusion
It has become a good option for businesses wanting to expand their operations with minimum cost and no requirement to maintain a physical office. Is a virtual office legal in Singapore? The answer is an absolute yes, provided businesses follow the guidelines given by ACRA.
One IBC Singapore provides full compliance of virtual office services in Singapore, which allows businesses to easily and professionally establish their business presence. Partnering with One IBC Singapore means compliance, credibility, and business efficiency, all in one of the most business-friendly environments in the world.