If you decide to open a company in Singapore, there are various requirements you will need to respect. Among these, the legislation which provides for the mandatory requisites, but there are also requirements, such as having a company website, which is not compulsory unless we are referring to an online business.
The Commercial Code is the main law which provides for the requirements of setting up a business in the city-state. Our Singapore company formation consultants are here to guide foreign investors who want to register their businesses here. We can also help them choose a registered address or change the address of their companies in Singapore.
The registered address – a mandatory requirement for a Singapore company
Among the requisites related to opening a company in Singapore, there is the one related to having a registered address in the city-state. This means buying a property or renting an office which will be used as an official address for the Singapore company.
Foreign investors can choose virtual offices if they are in a hurry of starting their businesses in Singapore. Later, the virtual office can be changed. As a matter of fact, the business address of a Singapore company can be changed.
Registered address vs. correspondence address in Singapore
There are two types of addresses a Singapore company can have. The correspondence address and the registered address. The main difference between them is that the registered address is the one to appear in the company’s official documents and registered with ACRA and the tax authorities. The correspondence address, on the other hand, can be used as a secondary address for the company.
Open a company in Singapore with a residential address
Many times, local and foreign investors use their residential addresses when filing for company incorporation with ACRA. This is possible without any prior approval from the government or other authorities; however, it is advisable to change this address for a business address, such as an office space. There are plenty of office spaces in Singapore which practice very affordable rates.
When can a company address be changed in Singapore?
There are several reasons which can lead to amendments in a Singapore company’s details. Among these, the business address can be changed under one or more of the following situations:
- – when a virtual office was first used for registering the company with ACRA;
- – when the company has changed its headquarters, therefore the address of correspondence;
- – if the Singapore company’s shareholders decide to change the business address;
- – if the company has expanded its operations and needs to change its location;
- – if the company address was first established in an HDB property and the owners want to replace it.
There are various reasons under which the company address can be changed and if you have any question related to a particular situation, our company formation specialists in Singapore can advise you.
Steps to change the company registered address in Singapore
It is important to know that only the company director or secretary can file a request for the change of a Singapore company’s registered address with ACRA. The steps to be followed are:
- filing the request for changing the company address with ACRA through BizFile;
- submit the new details: registered address and new office hours with ACRA;
- notify the IRAS about the change of the business address in Singapore;
- amend the official documents which contain the registered address.
The change of the business address with ACRA must be notified within 30 days from the decision.
Assistance in changing the business address in Singapore
Our company registration consultants in Singapore can help foreign investors who have businesses in the city-state with various services, including changes in company details, such as company name and registered address.
An important aspect to keep in mind is that for foreign businesses who do not have Singapore residence permits, a local registered agent must perform these changes with the local authorities. Our representatives are qualified to handle such procedures. We can perform the change of your Singapore company’s registered address through a power of attorney or through the nominee services we offer.
The change of a company’s business address is very important for both the commercial entity and for the authorities which is why it must be taken very seriously in order to avoid penalties.
If you need additional information on the requirements related to changing the company address and how to choose an appropriate business address, please feel free to contact our company formation agents in Singapore.