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.
Complying with ACRA’s Registered Office Address Guidelines
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.
Distinctions Between Business Addresses and Registered Office Addresses
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.
Location of the 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 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.
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