Virtual Office
Virtual Office
Pros of a virtual business address
- Customizable. A variety of additional services can be added, customized, or removed, easily. These may include mail forwarding.
- Flexible. Businesses aren’t tied into long-term leases or large deposits, which frees up capital for investment and growth.
- Transparent billing. Simple monthly billing means entrepreneurs can budget for the cost more easily.
- Cost-effective. A virtual office provides the same infrastructure as a physical office, but at a fraction of the cost. That’s because users typically work remotely and only use the onsite space occasionally.
Cons of a virtual business address
- Space is shared.
- Less social contact. Working remotely and only using the virtual office occasionally means less in-person connection.
- Shared address. There are some limitations to using a shared business address, even if you have your own suite number. For example, Google My Business doesn’t always accept businesses with a virtual address.
Can I use a Virtual Office for business licensing?
In most cases, a Virtual Office can be used for business licensing. Some industries have restrictions, but the majority of businesses we work with have had their licensing approved with a Virtual Office.
In most cases, a Virtual Office can be used for business licensing. Some industries have restrictions, but the majority of businesses we work with have had their licensing approved with a Virtual Office.
What is a Registered Agent?
A registered agent is a third party with the authority to receive service of process notices, and other official documents on behalf of a business. Using a virtual office as a registered agent address can be tricky, depending on how you set it up. Many virtual office providers offer the registered agent option as an additional service because “service of process” mail (SOP) and mail from the secretary of state must be handled differently than commercial mail. For example, many virtual office clients may have their commercial mail forwarded once per month. If they register using their virtual business address for LLC purposes without setting up a way to handle SOP and other entity documents, they may not receive important notices in a timely manner. Sidenote: P.O. Box addresses are not accepted as registered agent addresses.
If you’re setting up a business as an LLC, partnership, or corporation, then having a registered agent is required by law. So you may be wondering how much will a registered agent cost you. Organizations can expect to pay between $120 to $500 a year for basic registered agent services.