3 best jurisdictions to establish a virtual office
October 27, 2016
There were times when it was common to work in the office, but the rapid development of the Internet has given an opportunity to work around the world independently from the location. It concerns freelancers and other personnel who prefer to be hired on the remote work. Such type of employment means that you can be at any part of the world and at the same time to be engaged in the work activity. So, in the nearest future private persons and other business staff will switch to distant work using co-working areas, virtual offices or other places.
Business owners and entrepreneurs also don’t lag behind modern technologies. Nowadays they do not need to open an expensive office with presence. Instead they have changed traditions and cooperate with entrepreneurs from other countries using contemporary technologies and services. They said “no” to geographical borders! They open companies and offices at any place around the world and can manage their business from different locations, offer their products and services globally.
As demand gives rise to the offer, similarly, organizations that offer working spaces are opened worldwide. Their services include rent of virtual offices and real workspaces for different kinds of business. What is remarkable is that you can choose any rent conditions you need: from one hour to a week or a month. Additionally you can order receptionist, mail forwarding service, business address and other prestigious services.
A Virtual Office
What is a virtual office? What is the difference between a typical office and a virtual office? There is no difference, except one major characteristic: your company doesn’t have to be physically present at the country where you rent your virtual office. In addition to virtual office you can receive a receptionist, call forwarding and mail forwarding services, a business address and use meeting rooms.
Considering the aforesaid, a virtual office will be beneficial for those who:
- visit regularly different countries for work or travel;
- like remote work from home and want to have a professional image of business;
- wish to extend business around the world;
- seek to defend business from the government and the competitors;
- want to protect assets.
Depending on your business goals, you can rent the virtual office in offshore or onshore jurisdiction and to choose the most favorable price.
In the case of frequent trips, you can take short-term conditions and rent the virtual office in the country where you are located at the moment.
If you work at home and want to have an authoritative business address, select a place in your region (onshore or offshore), near your target market.
If your goals include business extension around the world, you may look for the virtual office in one of the offshore jurisdictions.
Only you can take the right decision. If you do not know how to choose the location or if you have doubts, let us advise you top jurisdictions with great possibilities for your business. These jurisdictions will satisfy all business needs, including the official presence in the location.
London is well-known as the capital of Great Britain. It has two world famous Central Business Districts (CBDs): London Docklands and the City of London. A lot of business owners aspire to establish a virtual office in CBDs of London and to increase company’s prestige.
For instance, Capital Office offers popular virtual services from less than GBP 10 per month in such excellent places as: City Road and Central London. These services include a business address, call answering and other necessary virtual office services.
Other example is Regus, it offers similar conditions as Capital Office in the Westminster, Trafalgar Square and Pall Mall. The price of such services is more expensive: for business address – USD 100 per month, for complete virtual office services – USD 800 per month.
Besides virtual office, you can use London as a place to set up your headquarters, irrespective of where you are physically located. Really, if you establish your business in London with a legal presence, you will get a lot of benefits, especially advantageous cooperation with Europe and tax avoidance agreements with 110 countries in the world.
Hong Kong is very similar to London. It is considered as one of the best financial locations with stable political and economic situation. Central and Western District in Hong Kong are the most famous CBDs for virtual offices. Besides many large corporations have their headquarters there.
For instance, Shek Tong Tsui is one of the cities in the Northern part of the Hong Kong, situated in the Central and Western District. Virtual offices in the Shui On Centre cost from USD 75 per month (it includes only a business address and electronic mail). In Harbour City the price for business address equals USD 90 per month, and the full virtual office package – approximate USD 250 per month. These prices are very acceptable for such prestigious locations and high level services.
Moreover, in Hong Kong you can modernize your business by establishing your head-office. The reputation of your company will only benefit from it. Hong Kong, being an offshore jurisdiction, provides financial and economic stability, good business image in the commercial world, and exemption from taxes for activities outside of Hong Kong.
Dubai is considered one of the most expensive towns in the world. But along with this fact Dubai is a worldwide financial centre with quickly developing economies. That’s why Dubai is the best location for business owners who want to set up the company in the beneficial place.
Your company will get a good reputation if you will establish a virtual office presence in Dubai. There are a lot of prestigious places in this town, for instance, Standard Chartered Tower and Downtown Burj Khalifa. The price starts from USD 150 per month for mailbox and to USD 400 per month for the virtual office and a workspace. The other famous place is Nassima Tower near Dubai World Trade Centre. A business address will cost USD 130 per month, virtual office services – USD 380 per month.
Ras Al Khaimah (RAK) situated in 100 kilometers from Dubai. It is not such a popular location as others, but it has a lot of advantages for company creation. If you register an offshore company in RAK, you get a registered address in Dubai. It is the main benefit of RAK which will provide your business with good prospects for development in the future. Between other benefits you can pay your attention to exemption from all local taxes and complete anonymity of personal and business information.
We have considered 3 best locations for your virtual office and as you see there are a lot of options and conditions. Before you choose the jurisdiction for your company, you have to analyze your business goals. Select a location that corresponds with your intentions. Do not look only at the prestige of the jurisdiction, try to compare all variants and take the right decision. And remember, that the future of your company depends on your decisions.