Signing a business contract lease in Singapore is akin to signing a gym contract you will regret in February – only the cost of leaving is inhumane and your landlord is merciful of nothing. The average cost of CBD office space is SGD 10-15/month. Add on utilities, fit-out expenses and deposits and you have gone through a lot of capital before a single customer enters the store. Business is making alternative decisions. Learn more!

A virtual office provides a business Singapore address – Raffles Place, Orchard Road, Marina bay but without the lease, the furniture wrangles and the fridge passive-aggressive notes. Mail forwarding, answering calls, and a registered address that complies with everything and fits in one fee every month and will not haunt your accountant.

The savings in terms of the cost are self-evident. However, they are not even the best argument.

Foreign incorporating founders that incorporate in Singapore have an actual initial barrier, ACRA must have a local registered address before your company exists. Using a virtual office, that barrier is eliminated instantly – no landlord, no lease negotiations, no delays. Within days you can be in business.

Freelancers receive something other and as valuable as well. The fact of invoicing using a home address erodes client confidence. Something very different with a letterhead at Raffles Place. Decisions are motivated by perception and professional credibility is much cheaper than restoring after it is ruined.

Singapore can be a real launchpad to businesses that are looking towards Southeast Asia. The partners in Jakarta, Kuala Lumpur and Manila take Singapore registered companies with a new level of seriousness. An appearance of any kind, including virtual, sends a message of regional interest that is taken into consideration when deals are on the table.

The question of the right provider is not to be taken lightly as most people do. There are some packages that contain only an address. Others are meeting room credits, dedicated receptionist, phone numbers in the country and mail forwarding. The needs of a bootstrapped SaaS team and a client facing consultancy are fundamentally different. Purchasing the incorrect package is as sure to abuse money as purchasing excessively physical space.

Where one is located in Singapore is also important. Not all addresses can be of equal weight in all industries.

After all, a virtual office is not a trade-off, or a temporary measure. It is a calculated business decision, to maintain overhead at a minimum and appear to have a well-established, professional business.

That mix is truly difficult to surpass in Singapore in the bustling business world.