How to Start an Import and Export Business in Singapore
Starting an import and export business in Singapore? Read this guide and take note of key regulations, costs and financial support options.
With the high cost of office space in Singapore and a strong shift toward remote work—favoured by over 70% of the local workforce¹—the demand for virtual office services is on the rise.
This article explains what virtual offices are, highlights their benefits, and outlines the key services and amenities to consider. We also review four of the top virtual office providers in Singapore to help you compare options and find a good place to start.
Finally, we’ll introduce Wise Business as an alternative business account to hold, spend, receive and exchange funds in multiple currencies in one place without the high fees, hefty admin, and headache of a local bank. If your company is looking to set up a virtual office to save on overheads, we think you'll also love the savings you'll get with Wise as you transact with customers, vendors and partners internationally without incurring hidden exchange rate markups or exorbitant conversion fees.
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A virtual office provides businesses in Singapore with a professional-looking physical address without requiring them to occupy a property or pay the associated costs. Virtual offices often also include services such as phone answering, mail handling, and limited access to meeting rooms.
Unlike coworking spaces, which offer shared desks or private offices where individuals can work on-site, virtual offices do not provide a physical workspace for daily use. However, some companies offer both virtual office services and coworking spaces.
These four well-established virtual office providers are a great starting point if you're looking for a professional business address in Singapore that strengthens your brand and credibility.
Provider | Pricing | Billing Options | Services Offered |
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Servcorp | From SGD 120 to SGD 600 | Monthly, 6-month, or 12-month | Four prestigious Singapore addresses, coworking space access, dedicated receptionist |
VOffice | From SGD 4.75 to SGD 16.42 | Yearly only | 7-day money-back guarantee, shared fax number, self-collection of mail |
Straits Virtual Office | From SGD 12.99 to SGD 45.99 | Yearly only | Suntec City address, dedicated business phone line, mail forwarding |
SnapMail | From SGD 5 to SGD 40 | 1-, 3-, 6-, 12-, 24-, or 36-month plans | Mail and parcel forwarding, 6 mail self-collection points, 30-day money-back guarantee |
Servcorp pioneered the virtual office concept and remains a global leader in virtual offices and coworking spaces. In Singapore, Servcorp provides businesses with prestigious addresses at four iconic locations: Marina Bay Financial Centre, CapitaGreen, The Metropolis, and Suntec Tower Three.
Included in its virtual office packages are services such as mail and courier handling, a dedicated local business phone number with live receptionist support, and access to coworking lounges worldwide. Customers can also book meeting rooms, boardrooms, and IT support on a pay-as-you-go basis.
Servcorp offers a variety of flexible plans available on a month-to-month, 6-month, or 12-month basis, including:
VOffice brands itself as Singapore’s cheapest virtual office provider, with its Economy package costing the equivalent of just $4.75 per month. There are no setup fees, and a 7-day money-back guarantee is included. Since its launch in 2014, this simple, budget-friendly service has attracted over 9,000 clients.
Depending on the package selected, VOffice includes services such as free daily mail alerts via email, self-collection of mail, mail forwarding, a shared fax number, meeting and office room usage, and, of course, a registered business address in Singapore.
VOffice offers three paid packages, all billed annually:
Straits Virtual Office provides a prestigious business address in Suntec City, a development designed with Chinese Fengshui principles to promote harmony, prosperity, and success. Straits has earned nearly 100 five-star reviews on Google, reflecting high customer satisfaction.
Additional services include free email notifications for mail, shared fax access, mail forwarding, dedicated business phone lines, and call forwarding. Meeting room rentals are also available at SGD 20 per hour. Straits Virtual Office supports both local and foreign-registered companies.
Straits Virtual Office offers the following 12-month subscription plans:
➡️ Check out our Ultimate Guide on How to Start a Business in Singapore as a Foreigner ⬅️ |
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SnapMail offers a professional city center address for your business, backed by a 30-day money-back guarantee. The company specialises in managing all your mail and parcels—whether that means opening and scanning, forwarding, holding for collection, or securely disposing of them. SnapMail also provides six free self-collection points conveniently located across Singapore.
You can use your SnapMail virtual address for bank statements, ACRA business registration, or even online shopping deliveries. They offer a wide range of subscription plans to suit your needs, with greater discounts available for longer term commitments. Customers can pay via bank transfer, PayPal,PayNow, or credit/debit card.
Here’s a quick overview of their pricing:
Choosing a virtual office in Singapore offers a wide range of advantages for startups, freelancers, SMEs, and international companies looking to establish a local presence. Key benefits include:
💼 Case Study: Learn how online marketplace Novelship saves around $20,000 and 20 hours a month by using Wise Business to pay overseas suppliers |
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Virtual offices typically offer a range of services and amenities, which may be included in pricing plans or available for an additional fee. More expensive packages usually include more additional services beyond the core offering of a business address.
Below are the main services commonly provided by virtual office providers, along with key things to consider for each:
Virtual offices often provide a physical business address to receive mail. Services may include holding mail for collection, forwarding it to your preferred address on a chosen schedule, opening and scanning mail, emailing scanned content, and securely disposing of mail.
What to look out for:
Many virtual office packages include a dedicated business phone number with services such as call answering, call forwarding, voicemail, and sometimes fax services. Some providers offer live receptionists to answer calls in your company’s name, take messages, and provide basic customer support.
What to look out for:
Virtual office providers often offer access to meeting rooms and private office spaces that can be reserved as needed. These spaces are typically furnished and professionally managed, providing a suitable environment for client meetings, presentations, or internal discussions.
What to look out for:
Depending on the provider, virtual offices may offer on-site receptionists to greet visitors, manage calls, and support business operations. Some also provide secretarial and IT services for administrative support and technical assistance.
What to look out for:
Pick an address that best suits your brand image and boosts credibility. Do clients expect a prestigious location, or would a reputable yet affordable address do?
Evaluate each provider's services, such as mail handling, dedicated phone answering, and more. Make sure the package fits both your current and future needs.
Month-to-month contracts offer greater flexibility, while long-term contracts usually cost less. Look for providers that let you upgrade, downgrade, or add services as your needs evolve.
Weigh total costs—including subscription fees, add-ons, and any pay-as-you-go or hourly services you may need. Consider those that offer the best value while still meeting your needs.
Read reviews, check how long they've been in business, and test their customer support. Ensure they comply with ACRA and present themselves professionally online.
Yes, a virtual office address can serve as a registered office address in Singapore if it meets the requirements set by the Accounting and Corporate Regulatory Authority (ACRA).
The registered office must be a physical location (not a P.O. Box),⁶ accessible to the public for at least three hours during normal business hours, and capable of receiving official government correspondence. It does not need to be the location where the company conducts its business operations.
To ensure compliance, it's important to choose a reputable virtual office provider and verify that they offer proper mail handling, public accessibility, and compliance with all ACRA regulations to avoid penalties and fines.
A virtual office can be highly suitable for small and medium-sized enterprises (SMEs), but its appropriateness depends on several key factors. Here’s what SMEs should consider:
➡️ Check out our Review of the Best Bank Accounts for SMEs in Singapore |
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With office rents remaining high and remote work becoming the norm, virtual offices offer an efficient, cost-effective way to establish a credible business presence in Singapore. However, it’s important to choose a reputable provider to ensure compliance with ACRA regulations.
The four virtual office providers listed in this article all have a proven track record, making them a solid starting point for your search. By carefully comparing features and pricing, you can find a virtual office package that offers the right credibility and professional image—while staying within your budget.
💡If your company is establishing a global presence with virtual offices as you enter new markets, it's likely you need a business account that lets you grow and operate internationally without the high fees, hefty admin, and the headache of a local bank. With Wise Business, you can efficiently manage your finances across borders, ensuring seamless international transactions and cost savings. |
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➡️Get Started with Wise Business Today
Sources:
Sources checked on: 19th May 2025
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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