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Differences Between a Virtual Office Vs. Virtual Business Address with Mail Forwarding Features

Virtual office services are paving the way for startups and small businesses to get a big break in business, especially since they can enjoy the prominence of a prestigious business address without needing a unified physical space for work. Given how remote work has expanded significantly since the pandemic, the benefits of a virtual office have become far more profound.

That said, virtual business addresses are also gaining prominence as an alternative option. What makes a virtual office different from a virtual business address? Let our handy article guide you through the differences between both.

What Exactly Is a Virtual Business Address?

A virtual business address is just like a virtual office, providing you with a physical street address that you can use as your company’s official address and for all business and legal correspondence. However, where a virtual business address differs is that it is primarily an online-only presence. While you have a physical street address for all your correspondence needs, the virtual business address does not include a physical space for occasional meetings.

A virtual business address can offer many supplementary services, including mail forwarding services , to help facilitate your business needs. Mail forwarding is essential to the package, ensuring you can stay on top of all your business and legal correspondence wherever possible. The virtual business address providers will receive all mail on your behalf and notify you of their arrival. They will then forward all your mail to your personal or designated mailing address, ensuring you can maintain privacy between your personal and business life.

Virtual business addresses also typically offer mail digitisation services, where your physical mail is opened (with your express permission), scanned and subsequently emailed to you. For digital nomads or remote workers, mail digitisation offers a more flexible method for keeping up with correspondence, even when you are currently based in another country.

Typical Benefits of a Virtual Office and a Virtual Business Address

A virtual office and a virtual business address offer plenty of flexibility to business owners. In fact, both options share several similarities that are beneficial to any business.

Legitimacy and Professionalism

It goes without saying that having a business address in a reputable business district can help your company establish a foothold in the city, country, or even within the region. Tying your company address to well-regarded localities can do a lot of good, as it can influence how potential clients, partners, and vendors view your business as a whole.

Furthermore, if the virtual business address or virtual office provider is a registered filing agent with ACRA and can make ACRA-related filings on your behalf, you can use the virtual business address or virtual office as your registered business address for all intents and purposes. That can also substantially boost your business’ legitimacy, even in the eyes of the law.

Cost Savings

Thanks to virtual office and virtual business address packages, you can effectively establish your business presence anywhere in the world, using it as your new base of operations to seek out partners and clients while assessing market conditions at minimal cost and risk.

Furthermore, rates for virtual office or virtual business address packages are highly competitive, allowing you to expand in a coveted, eminent location that can add substantial merit to your newfound business presence. Owning a premier business space has never been easier.

Privacy and Security

While home office schemes are beneficial, they often involve the unfortunate blending of work and personal affairs, frequent business calls, and unsolicited or unexpected guests when you least expect them. With a virtual office or virtual business address, though, you can keep these aspects comfortably apart while safeguarding your privacy. All vital correspondence and visiting guests will be directed to your fancy virtual location as and when needed.

The same principles apply to your mail. Having an authorised service provider to help you sort your incoming mail and deliver it to your home frees up much of the hassle of sorting mail yourself. As such, you can stay focused on growing your business and building bridges with clients while your service provider keeps you up to date with your business correspondence.

Why Are Virtual Offices a Better Option?

Despite the benefits a virtual business address provides, a virtual office is the preeminent business solution, thanks to various value-adding factors.

Physical Space

Virtual business addresses are online-only, primarily providing a business address for remote work or international companies seeking to expand in a new geographical location. You could purchase a meeting room or coworking space from the virtual business address provider, but you must pay for it as a one-time add-on. The costs can quickly rack up if you need these spaces regularly.

In contrast, when you sign up for a virtual office package, you automatically get a complimentary coworking space or meeting room whenever needed. The cost of using these facilities is already included in the package’s payment plan, so you can always count on having a space available whenever you need to brainstorm with colleagues or discuss with your shareholders and business partners.

Virtual Receptionist

Typically part of the virtual office package, a virtual receptionist can serve as your business’s face based on your virtual office space. They can help you welcome your walk-in clients, suppliers, and even government officers, taking note of every visitor they receive and the purpose of their visit. If needed, the receptionist can contact you at the earliest convenience when you have guests you need to meet with. They will also be your primary point of contact for all mail acceptance and forwarding needs.

Some packages also offer a local phone line and call forwarding services to your designated number as an add-on. That way, you can quickly receive calls from anyone anywhere, even if you are busy elsewhere.

Impress Your Clients with the Help of My Office’s Virtual Office Solutions

Understanding the changing nature of the office space can significantly help you make an informed decision that supports your company’s growth and success without going over budget. The future of work looks mighty flexible and location-independent, and we believe virtual offices are at the heart of this growing revolution.

Whether you’re 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)

What is a virtual office?

With a virtual office, you do not need to worry about breaking the bank to afford a physical office space for your business. Instead, you can have a professional-looking business address, efficient mail management, and access to other business support services at an affordable rate.

Why do I need a registered business address in Singapore?

Per the Accounting and Corporate Regulatory Authority (ACRA), all companies are legally required to have a business address to receive crucial legal communications and notices and store important records. This address must also be accessible to the public for at least three hours a day during regular business hours on business days.

How do I sign up for a virtual office package from My Office?

You can choose your virtual office location from one of two prominent locations: International Plaza and Woods Square. Then, submit your company information to us, and we will contact you within three business days to confirm your registration and help you update your registered business address.