Whenever we think of initiating a business venture, one of the foremost concerns to strike our minds is the need for a physical workplace. The hunt for office space is certainly a time-consuming activity, not to mention there are simply too many factors to count when it comes to finding that perfect office space.
The exorbitant prices of the available spaces certainly don’t make it easier for startups and medium & small enterprises. Matching a workspace with demands of the business is not easy, because it’s not simply about finding a place to work from – your office represents your brand image. Every entrepreneur aspires to seek an office address at a premium location that would amplify the business reputation.
With the advent of newer technologies and modern office-space solutions in today’s world, the idea of having a physical office has become far less significant, if not completely redundant. To address the changing trends, virtual offices came into the picture. Virtual office for GST registration and company incorporation is the most sought-after use case for the product, along with other benefits.
But let’s have a better look first at the idea of the virtual office itself.
What is a Virtual Office?
A Virtual Office is a service that provides a business owner with the perks of having a prestigious office address, a commercial telephone number, a support team responding to phone calls and dealing with public relations activity, a provision for office related services and the facility of accessing meeting rooms without actually owning any physical space for an office.
The business works remotely over the internet and operates from various locations despite its portrayal of existence as a single unit. To put it simply, it provides the opportunity for the entrepreneurs to work remotely from their homes without having to compromise on their desire to showcase their business platforms with a fancy professional address.
The modern office space solutions do not require the need to have any conventional office space thus cutting out on the expenditure for its payment or lease. The success of the concept of Virtual Office and its growing acceptance in India could be attributed to the ushering of newer technologies that have been developed in the sphere of videoconferencing and communication facilities.
It is a great idea for the professionals working from someone else’s spaces or their homes but trying to retain their own independent identity without having to document their home address as an official one.
Registering Virtual Offices across different states allows businesses to expand their horizon to other cities due to its inherent virtual existence with a minimal cost incurred for the registration in multiple locations. It is ideal for small businesses which look for a broader market but do not have the capacity to avail physical office space in different states. A Virtual Office can be located thousands of miles away from the business’s actual site of functioning and operation.
Top Business Use Cases For Virtual Office
A Virtual Office can be used to obtain the benefits of GST and Business Registration, the details of which are as follows:
1) Virtual Office for Business Registration
It is not necessary to have a physical office space in order to register your services officially. With a virtual office address, you can register your business with the Ministry of Corporate Affairs (MCA) and the concerned authorities at the local level.
2) Virtual Office for GST Registration
For every state’s GST registration process, you need to have a registered office address in that state. Since it is not feasible to have a physical office in every state, a Virtual Office can help you comply with the legal requirements for GST registration. On the completion of the process, you will be registered with a GST number for that particular location.
Any documents necessary for GST registration, such as rent agreement, NOC (No Objection Certificate) and Utility bills will be provided along with the virtual office.
3) Receptionist & Mail Handling Services
Virtual Office also offers the scope of providing reliability and assurance to clients by consistently responding to their calls and delivering the products or services to their addresses respectively. Hiring a receptionist to handle calls who is fluent in the local language of that area will certainly give you an added advantage for your service. This way, you can ensure higher efficiency of your business without actually losing any opportunity posed due to the language barrier.
Other Benefits of Having a Virtual Office
In addition to the business benefits of a virtual office, here’s how it also helps startup founders and business owners:
- A Virtual Office is a popular idea among startups and small or medium enterprises that have limited capital for their ventures. While some of them might not have the budgetary capacity to pay for traditional office space, others would prefer to forgo the expenditure in order to invest their savings on their business ideas.
- It portrays great professionalism for your business. The designation of a mailing address, telephone number and videoconferencing facilities allow your service to look bigger than its actual footing.
- Clients usually prefer a professional service and get attracted to premium office addresses. It gives the impression of a conventional high-cost office to the customers without actually having to pay for one. The indication of a designated commercial telephone number with support executive and call forwarding facilities acts as a great deal for the acceptance of your service to your clients and building trust among them.
- It helps in waiving off the extra overheads that would have otherwise been required for the payment of logistics and administrative staffs in your office.
- The adoption of a Virtual Office allows the executive to recruit staff from any geographical area. It does not restrict the recruitment to any particular locality or a region that is proximate to your office address.
- A Virtual Office provides you with the opportunity to test the success of your business activity before planning to invest in the purchase or lease of office space.
- A Virtual Office facility provides luxurious meeting space at renowned lounges and star-rated hotels for face-to-face meetings among clients that take place occasionally.
Virtual Office For GST Registration: Documents Required
To apply for a virtual office service for GST registration, you are required to submit the following documents:
PAN Card of the Company
PAN Card of the signatory
Aadhar Card of the signatory
Business Registration certificate or incorporation certificate provided by the Ministry of Corporate Affairs
Identity proof of the prime authorized signatory
Address proof of the prime authorized signatory
The encouragement to start-ups by the Government of India has provided the entrepreneurs with many opportunities supplemented by favourable policies to initiate their innovative ideas and business deals. The status of the business houses is usually determined by their presence in various locations and the number of branches that they provide. Customers are often attracted to businesses that are available in more than one state.
The Virtual Office for GST registration is extremely profitable for the small and medium business enterprises that intend to limit their services to any particular location all because they simply can’t afford to. Maintaining several office spaces across states take a huge financial toll, even on mega corporate houses. Having a premium virtual office address in different states will help you capture its markets without actually getting into the hassle of acquiring physical office space.
Good ideas often lose their steam due to poor execution or simple lack of favourable circumstances. The opportunity to set up a virtual office, especially for start-ups and other medium-sized business ventures, makes sure that affording a premium office space is one less thing on your list to worry about.
If you are in and around the Delhi-NCR area, you are in even better luck thanks to myHQ. One of its kind, the startup has already earned its name for providing flexible and collaborative workspaces and you too can avail their Virtual Office services, starting from only INR 1249 per month – all at prime locations in major cities in India. You get benefits such as a professional business address, mail handling, courier services, GST registration, reception courtesies and many more!