Virtual offices have been around for past sometime and question-related to this service keeps floating. A few of them start something like.
What is a registered office address in Virtual Office?
A registered office address is a legal requirement of all limited companies and limited liability partnerships (LLP). Its purpose is to provide companies house, HMRC, and other relevant Government bodies with the official address for delivering statutory mail and legal notices.
It has to be a full, physical postal address in the same state where your company is registered. Both residential and non-residential addresses are permitted, but most commercial addresses are used. Your registered office doesn’t need to be in the same part of the county where you have your main trading activities or nor do you visit there. It is simply for receiving official mail and storing statutory records for inspection purposes.
What is virtual address PAN India?
You can use the virtual office for company registration, GST registration, etc.
Since the virtual office gives you a professional address it can be used for all your business correspondence and mails. Plus having an efficient post forwarding service means you will get all your mails on time.
It does not need any office lease, no utility payments., no hardware, and more of the other costs.
The marketing of your product will remain too small it remains restricted to one location. Virtual offices can be set up in different cities like Mumbai, Delhi, etc. Having a working space in all the locations is not feasible for small companies but simply having a Virtual office and a phone number can increase your market reach for your products.
Along with virtual address and phone numbers, the virtual office providers also offer a personalized reception service, virtual fax, and mail handling services.
Virtual office is getting quite popular, you can have several office addresses in different parts of the country by virtual addresses.
To incorporate your business with a virtual office solution, it will provide with a business address at a very efficient price. And when a physical address is required for temporary utilization you can use the coworking space. Read more about the Benefits of Virtual Office.
Services provided by Virtual Office:
- Virtual assistant: A dedicated professional has given the job to accept and execute various tasks and operations assigned by the clients. They can also represent you in the meetings on your behalf.
- Answering services: An executive is appointed to receive and answer calls coming through on your behalf.
- Virtual office space: It gives you a chance to own a high profile reputed address in a city when you want to expand your business operations at a relatively low cost.
- Mailing address: This can be used for accepting, sending, and forwarding mail without the PO box number.
- Business meeting space: It can be rented at short notice for varying periods of time.
What is a virtual office receptionist?
When registered with a virtual office a phone number is provided that can be used on your business cards, letterheads, and email signatures. This phone is stored in our system so as when the customers call, our professional receptionists will know that the call is for your company and it can be answered accordingly.
The instructions to answer the calls can be provided to the receptionist. It can be a particular tone or a sentence or a work to scripts can be given. Calls can also be diverted or the message can be taken as per your guidance.
Similar is the task of call virtual assistant who will handle more of the administrative type work like managing the meeting times, booking appointments and managing a calendar, etc.
What type of business can use a virtual office?
Any individual or registered business can avail services of the virtual office. All you need to do is provide KYC (Know your customer) documents to the virtual office address provider.
How to get a Virtual Office address to register your LLP in India?
To register an LLP,
- You need a registered address
- NOC from the landlord.
- Latest Utility Bill Copy
- Virtual Office Agreement Copy
You need to ask virtual office providers that you’re going to register your business on that address and if they provide that facility then you’re good to go. Pricing of Virtual office for business registration is slightly higher than normal services with mail handling only.
Also, you need to make sure that the provider cooperates with you at the time of bank verifications. Because, Bank officers will visit the space before opening your company account.
Virtual Office for GST Registration
What is GST registration in multiple states of India?
If you are planning on providing the services in more than one state, GST can cause some problems. The new set of rules of GST can cause some trouble for the providers that are having operations in more than 1 state.
Having virtual offices in multiple states can hugely be different under GST.
- The service provider now has to take up completely new set of rules.
- They will be assessed in several states.
- New registration would be required.
When does a service provider need to look at a multi-state registration?
For example: If you are a Faridabad based service provider who provides services in Delhi, then you do not need to have a registration in Delhi. But if you are a service provider in Delhi as well then you need a registration for both the locations.
It is only when you conduct operations in a particular state, which is a place for business or office that you have to register in that state.
When the setup is in more than one state of operation?
- You need to obtain multiple registrations
- You need to have a compliance each of those registrations
- The invoicing should be organized according to the states
- The tax input credit should become state-centric
When the setup is in multiple state operations?
- The person requires to obtain a registration in every state where he has an office.
- GST compliances for every state would have to be compiled individually.
- Invoices raised from every office would have to be organized according to the different states.
- Input tax services according to the state where such services are being received.
In the past even if you were operating from 20 states, one registration would work which is for the place where you are headquartered. Now you need to break down the taxes into relevant states and pay as per the relevant state.
For multiple state service providers, it is a mixed bag at least for the initial 1-2 years. There are significantly high chances that you might have to deal with the problems you may never have dealt with before.
When and how to get registered in different states under GST?
You may have got your business registered but you will need to do it for all the states you been operating from. If your operations are from a single state then you can work along with one registration, but different cities require multiple registrations.
In case you are a service provider in multiple states without a physical presence there, you only need to get a registration in the state you are physically present. But if you are present in other states as a service provider or a good supplier then you need to obtain a GST registration in all the states you operate in. so, therefore, you need individual GST registration on all these states.
How does GST registration for branches and business verticals in different states work?
As per the CGST Act, the suppliers of the taxable goods and services required to register under GST in the state or Union territory. There the provision provided in the GST Act for obtaining GST registration for branches.
A taxable person under GST in each state or Union Territory can obtain the GST registration form where the taxable supply of goods or services is made.
The first 2 numbers in GSTIN are tied to the state of registration. If a business is being operated in 2 different states, then the first 2 numbers of the GSTIN would change while the PAN of the entity would remain the same. If there is more than 1 GST registration within a state the entity code would also change.
GST registration for branches within a State?
- Have more than one business vertical.
- The business has to be registered to pay taxes under the GST composition scheme.
- All the business verticals have to pay tax on the supply of goods or services to another vertical of the same business and issue a tax invoice for such supply.
For separate GST registration to be issued within a state the following conditions have to take care of.
GST registration for Branches:
GST registration can be obtained by making it in FORM GST REG-01. FORM GST REG-01 in the form which is used by all the businesses to apply for GST registration. The normal procedure for the GST registration application and documents required are to be submitted by the business for obtaining GST registration.
This application is forwarded to the officers for verification and then the certificate is granted which takes around 7 working days. The GST registration certificate indicated the principal place of the business and also the additional places of the business.
What are the benefits of taking a GST number through a virtual office address in India?
A virtual office address is a business center that is provided to the clients with a professional image without the stress of traditional images. Virtual office is taken by E-commerce, travel agents, real estate brokers, CAs, etc. For e.g., E-commerce sellers take the Virtual office address of the warehouses in the different states with the GST number.
Virtual office address with GST number explore the business and help to maintain the IGST from CGST and SGST. When you take a virtual office address with GST registration then there is no problem with invoices.
The benefits of GST registration are:
- GST will help remove the effect of the tax in India. This is the way we can see that the crucial step forward reforming the indirect tax system in India.
- The interstate business will be cheaper. The tax burden will be reduced for the companies since a uniform tax will be paid in all the states across the country.
- For the international players, this uniform tax structure on indirect tax will help in ease of doing business.
- It will also streamline the unorganized players as all the stakeholders who have already paid tax will compliance proofs to claims their set-offs. This will bring transparency in the system.
Types of Virtual Office Space Plans:
- Virtual office space with Business Registration – Register your company anywhere in India without physical address with a virtual office address. You will be provided with complete documentation, prime location address and all in-office services.
- Virtual office space with GST Registration – Register for a GST number anywhere in India with the help of Virtual Office. With a virtual office address you will be able to register for GST for that location with all the necessary documentation like NOC, Agreement, Signage, Electricity Bill.
- Virtual office space with Mailing Address – If you are looking for a prime office address for the purpose of courier handling then the virtual office is the solution for you. With the help of a virtual office, you can get an address for mailing purposes at a prime business center anywhere in India.
These are few questions asked frequently. If you have something else you need to know, you can leave your questions below in the comment box.