A registered address service collects/ forwards incoming correspondence, packages and parcels on behalf of their clients and forwards it to the address that the client specifies. A registered address is also useful if you would like to have an address in a capital city, which may or may not give you company more prestige. A registered address service is considered an innovative concept. It emerged out of a slump in real estate industry. Office spaces that were constructed or under construction during the real estate boom and which could not be sold or leased out at reasonable rates are being combined with additional services for providing this class of service. Effectively such services make optimal use of office spaces even when real estate industry is licking its wounds.
Using a registered address is beneficial for businesses as well. Many companies have their registered office in one place and branch offices in other places. Business enterprises need branch offices closer to their manufacturing facilities, and sales facilities. Most of the business related activities are completed in these places. However, there are several administration related activities that are also important. These include obtaining permissions from government agencies, preparing annual accounts and filing them with government departments, such as revenue department, and company law related departments. Compliance with such requirements is obligatory on business enterprises, especially registered companies.
There can be notices to pay taxes and revenue departments can ask for clarifications relevant to tax payments. There can be notices for delay in filing the records or legal notices from disgruntled material suppliers or shareholders. There is usually a time limit stipulated under the law for responding to such communication. Therefore, it is necessary for the business to attend to such matters at the earliest. Legally, registered companies should have a registered office, and its address should be printed on their stationary. Any communication or notice that is sent to this registered office is deemed to have been sent as required by law.
Effectively, the management cannot claim that it did not receive such communication. Formerly, this meant maintaining an office, and incurring relevant overheads such as rental charges, utility bills, salaries and wages of additional personnel, etc. While it may have made sense in case of large businesses, such expenses eroded profits of small and medium sized businesses. This is because many of the administrative works could easily be combined with similar works at branch offices if only such communication from government agencies, revenue authorities, banks, shareholders, advocates, etc., reached these branch offices in time. Usually, registered offices are located in a capital city or other big towns because there are government offices here and relevant administration works can be completed easily. One of the other reasons for maintaining registered offices in expensive buildings of large cities was to impress the clients.
Registered address providers offer all sorts of benefits to the businesses that use them. Business enterprises therefore pay a fraction of the administration cost they used to incur formerly and save on overheads. With such services, businesses and individuals can get an access to stylish office accommodations with necessary personnel at lower cost. Effectively, business enterprises pay only for what they use. It is possible to avail dedicated services of such personnel as well. Such service providers maintain office accommodations in different cities and different countries. They also offer such accommodations and services in different parts of the cities at varying rates.