Singapore, Singapore (PRWEB) August 17, 2015
“Singapore has adopted a focused approach towards increasing its knowledge-based economy. During the last two decades, Singapore has emerged as one of the leading destinations for the company incorporations," said SBS Consulting.
Some of the newbie entrepreneurs tend to abandon their dreams of starting their businesses for the want of commercial offices. The Singapore Government implemented Home Office Scheme in 2003 to encourage such individuals. It allows the entrepreneurs to use residential places, both private as well as Housing Development Board (HDB) properties for the commercial purposes.
Anyone who happens to be an owner, tenant or an authorized occupier of the private residential property is free to register a company in Singapore under the Home Office scheme. Tenants will have to obtain a written consent from the owner approving the use of the residential property for commercial purposes.
“If everything is all right and you have appropriate documentation, registering a small-scale business from your residential property or HDB flat is easily possible. You just have to ensure that not more than two employees are working in the home office and the proposed business activities will not cause any type of disturbance, nuisance or inconvenience to the neighbours,” advises Ms. Meena, the business head of SBS Consulting.
The Singapore government has strict norms for businesses that can be registered under the Home Office Scheme. Usually, Accountancy, Architectural, Business Consultancy, Design/Advertising, Insurance/Financial Planning services, Real Estate agencies, Technology based and knowledge-intensive businesses as well as transportation and trading service-providing businesses are only allowed to operate under the Home Office scheme.
The entrepreneurs interested in registering their companies in Singapore under the HO business scheme must apply to the Accounting and Corporate Regulatory Authority (ACRA), unless the proposed business is exempt from registration, as per the guidelines of Business Registration Act. Entrepreneurs are allowed to incorporate a sole-proprietorship, partnership, limited liability partnership or a private limited company under the Home Office scheme.
“Although the HO scheme is meant for motivating people to venture into the business world, there exist certain restrictions and performance criteria on home office activities. These restrictions and prohibitions ensure the scale of a home office is kept small, thereby preventing it from causing nuisance, disturbance or inconvenience to the neighbours,” said http://www.sbsgroup.com.sg.
A home office business can hire maximum of two employees. The business should not display any advertisements; its activities should not generate smoke, waste matter or dust. The applicant has to take sole responsibility of the safety by avoiding any dangers to human lives. Additionally, no perpetual damage should be caused to the property during ongoing business activities. Apart from that, home office businesses are restricted from entering into business activities not permitted under the HO scheme.
“With effect from 6 December 2010, home office owners are getting a one-time permit for their businesses. This has relieved them from the obligations of renewing it after every 5 years,” commented Ms. Meena.
The entrepreneur will need a SingPass Login ID and will have to pay S$20 non-refundable administration fee by credit card or debit card to register under the home office scheme. After that, the entrepreneur needs to apply and get permission from the Urban Redevelopment Authority (URA) or the Housing Development Board (HDB).
“By ensuring our clients’ businesses meet the terms and conditions of the home office scheme and by ensuring their business complies with performance criteria for a home office, we offer a packaged deal to local entrepreneurs interested in registering a home office business through an online business licensing service depending on the type of property they possess,” added Ms. Meena.
“SBS Consulting has aligned its company incorporation packages to meet the specific requirements of the local entrepreneurs interested in registering a business under the home office scheme. Although, our incorporation promo package is designed to offer everything necessary in Singapore company incorporation, ensuring it remains competitive and cost-effective, we have introduced an optional package of offering Company Secretarial services with a 40% discount and registered office address at minimum fees for the first year,” concluded Ms. Meena.
Visit http://www.sbsgroup.com.sg/incorporation-promo-package/ for additional information on our Incorporation promo Package.
About SBS Consulting
SBS Consulting is a renowned online portal offering cost-effective services to Incorporate Company in Singapore to local and foreign entrepreneurs alike. By helping entrepreneurs having bright business ideas but tight budgets to incorporate a company under the Home Office Scheme, SBS also offers other corporate services at affordable rates ensuring the survival and growth of their clients businesses.
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