The Singaporean Accounting and Corporate Regulatory Authority (ACRA) plays a vital role in registering businesses in Singapore, meaning companies must provide their registered office address as part of the process. While we have briefly covered ACRA’s guidelines in previous articles, we will be taking a closer look at these key criteria for having a registered office address that meets ACRA’s criteria.
Requirements of ACRA’s Registered Office Address
According to its website, ACRA is a “regulator of business registration, financial reporting, public accountants, and corporate service providers.” It is responsible for administering several government acts, such as the Business Names Registration Act 2014 and the Companies Act 1967. Under its purview, it ensures that businesses that wish to be incorporated have a valid business address that can receive all essential legal or business correspondence and that members of the public can contact the company during any business day.
Typically, ACRA considers a few criteria compulsory when registering your business address. We will go over them in detail in each of the following subsections.
What Is Business Addresses and Registered Office Addresses: The Difference
Here is something of importance you should note: a business address is where your business conducts its operations, while a registered office address is where you will receive “communications and notices to [your] company” and where your business’s legal documents and records are stored. You can have both business and registered office addresses pointing to the same location, but your registered office address can be a different physical location instead.
For example, if you own a factory and an office solely to receive customers and conduct company operations, you can have your registered office address pointing to your office while your business address is the factory.
Can a home address be used as a registered office address?
Firstly, ACRA requires a valid physical address in Singapore as a registered office address; that means it must be an actual physical space you use for your daily work and operations. Using a P.O. Box is a no-go, however, as that is solely used as a mailbox and does not have a physical location tied to it beyond the mailbox itself. On that note, virtual offices and mailboxes are different, as these service providers are typically recognised as registered filing agents by ACRA; they are allowed to manage all incoming (and outgoing) mail on behalf of your company.
Your home address is also usable as a registered office address under the Home Office Scheme: all you need to do is register with either the Housing & Development Board if you live in an HDB flat or with the Urban Redevelopment Authority (URA) for private residential properties. Their websites will give you a rundown of what you will need to register your home address for your company.
Accessibility and Availability of the Registered Business Address
As an actual physical location, your registered office address will be accessible to members of the public for various reasons, whether for business or otherwise. Per ACRA’s requirements, your office must be available to the public “for at least three hours during ordinary business hours on each business day.” A business day typically refers to weekdays and excludes the weekends (Saturday and Sunday) and public holidays.
For the most part, this requirement is solely to ensure you can receive all essential communications or legal documentation throughout your business operations. That can also refer to any government-related correspondence related to your business. However, failing to comply with this requirement can land you a hefty fine of up to SG$ 5,000.
Using an Alternate Address
All of ACRA’s records are publicly available, so a business owner like yourself can opt to register an alternate address to protect your privacy. That way, ACRA will display your alternate address instead of your actual residential address in its records. In the meantime, ACRA’s official correspondences will still be delivered to your actual address.
Registering an alternate address still requires you to abide by ACRA’s requirements. For one, the alternate address cannot be a P.O. Box; it must be an address where you can be contacted, and for that, you can use your office as your alternate address. Please note that the alternate address “must be within the same jurisdiction as the residential address.”
Owning or Leasing an Office Space
ACRA stipulates that your registered office address must be reachable by you per their requirements, but they do not have specific requirements for the type of office you need. That means you can decide what kind of office would suit you best. For small-scale companies and startups, renting an office is not a viable choice, given the small budget they have to work with; thankfully, various leasing options exist, especially with virtual offices and the additional facilities and features they provide at a fraction of the cost needed to rent an office space.
If your company is primarily remote-based, the virtual office is a more economical option for conducting your business while still meeting all of ACRA’s requirements. As long as your virtual office provider is a registered filing agent and has a physical space you can use on occasion, you are good to go. That said, this physical space is perfect for in-person client or staff meetings only when necessary or even as a quiet, comfy workplace if you prefer not to work from home.
Changing Your ACRA Address
Whenever you decide to move to a new office location, you must also notify ACRA about the move and allow them to update their records accordingly. By doing so, you can ensure that you can continue to receive mail from “government agencies, business partners and stakeholders” without delays or interruptions. Note that you must do so “within 14 days from the effective date of change,” or you can risk getting fined up to SG$ 5,000 if you fail to do so promptly.
Why is a Registered Office Address Important?
Apart from legal compliance, a registered office offers additional benefits.
Easy Mail Management
All mail, including legal correspondence, will reach the registered office address where a person-in-charge (PIC) physically receives the mail. The PIC does not necessarily have to be company staff; it may be someone employed by a third-party solution, such as a virtual office provider. From there, the PIC will notify you of important mail or forward all mail to your designated address after informing you.
Professional Image
When you register your office address in a prestigious business district, potential clients and partners will perceive your company as credible and professional. As a result, this helps foster trust and confidence, which is plenty of mileage in building a close working relationship.
Privacy and Security
Some home entrepreneurs who operate their work at home (like selling homemade cakes and custom flower bouquets) usually register their office address using their home address. While there is no restriction to using your personal address for your business, it can pose a security concern.
Protection of personal privacy
Keeping business and home addresses separate means entrepreneurs can safeguard their personal information. One way to do this is to register an alternate address with ACRA. Doing so changes your address in ACRA’s records to another address where people can contact you.
Prevention of security risks
A registered office address sets professional boundaries between entrepreneurs and customers, preventing security risks like identity theft and unwanted solicitations. With the aid of key personnel, you also prevent the theft or loss of all incoming mail, including crucial company documents or letters.
Enhanced security for private documents
Outsourcing your business documents to a registered office address ensures better protection and security of private documents such as business permits and legal papers.
Convenience
Having your office in the right place can give you easier access to clients, government agencies, banks, and other essential services. This convenience also applies to your mail, ensuring you receive it on time.
Start With My Office’s Virtual Solutions Today
Meeting the ACRA’s guidelines for your registered office address should not take long, and we at My Office are here to help you. Take your business to the next level while complying with ACRA regulations by renting a virtual office in a prestigious business location at a minimal cost.
Whether you are a startup or an established business looking to simplify operations, let us help you embrace the virtual world and unlock the potential of a more agile and flexible business model. Contact us today to discuss your needs and explore our virtual office solutions!
Frequently Asked Questions (FAQs)
Can I use a virtual office as my ACRA registered address?
Yes. As long as the virtual office has a physical Singapore address and is accessible during office hours, it is accepted by ACRA.
Can I receive business mail at my ACRA address?
Yes. Most virtual office services include mail handling and forwarding options.
Will ACRA send official correspondence to my contact address?
No, official correspondences will still be sent to your residential address.
What is the regal requirements for a registered office address?
The registered address must be accessible by members of the public for at least three hours during business hours every business day. It also needs to be an actual physical address and cannot be a P.O. box address.
However, your registered office address can be something other than your place of operation. You can operate your business from multiple addresses as long as your registered office address meets regulatory requirements.
You must display your registered office address on business letters, emails, invoices, marketing material, and website(s). Failure to maintain a registered office address can lead to legal implications such as fines or even the suspension of your company.
