It’s important to understand how a Singapore business address is different from a residential one. A Singapore business address is a physical address where a business can be found. This address can also be used for official documents, such as a corporate bank account. While some businesses are able to avoid having an office, others may find it helpful.
Home office scheme is required for all Singapore companies
To run a home-based business in Singapore, you must first obtain a Home Office Scheme licence from the Urban Redevelopment Authority and Housing Development Board. This licence will allow you to work from home and use private or HDB residential properties as your office space. You must pay an administration fee of S$20 and submit your SingPass to complete the application. Once approved, the licence is valid for the duration of the business, but you can forfeit it if you violate the conditions. However, the Home Office Scheme is not applicable to all types of businesses.
To apply for a Home Office Scheme licence, you must first register your business with the Accounting and Corporate Regulatory Authority (ACRA). You may register your business as a sole proprietorship, partnership, limited liability partnership, or private limited company. Some businesses apply for the License for Home Office Scheme before registering with the ACRA. If you are an individual, you must declare your status as such when applying for the License for Home Office Scheme.