Updated February 4, 2021
With so many technological and virtual advancements today, entrepreneurs can run successful businesses right from their bedrooms. And since the global pandemic in 2020-2021, so many businesses are starting virtually or moving remote. However, when it comes to establishing your business, you still need a physical business address. Unfortunately, your bedroom or even home address is not the ideal solution. That’s where a Virtual Business Addresses comes in.
So, what are Virtual Business Addresses? What’s the issue with a home address? Can a Virtual Business Address be used to start a LLC? Can you use a virtual business address to open a US bank account? Here are your answers…
Should I use my home address for my business?
It’s tempting to try to save money by using your home address as your business address. However, this is problematic. First, your privacy is at risk when you use your home address for business purposes. This address is published on websites, in listings, on legal forms. As a result, it can become very public and put your home and family at risk.
Second, a home address jeopardizes your business credibility. When potential customers see that it’s a residential address, they get the perception that you are small and/or amatuer. The first impression is the one that matters most with potential customers! Therefore, you need to put your best foot forward and a professional business address is part of a successful first impression.
What are Virtual Business Addresses?
Virtual Business Addresses are physical addresses that come with the rental of Virtual Offices. A Virtual Office is a comprehensive package of online business solutions. It enables you to work virtually anywhere in the world while still enjoying the benefits of a physical office. Your business gets a physical business address in a desired location without the high overhead or rental costs. You can manage your important mails remotely and request actions such as scans, forwards or shreds from your virtual assistant team.
Virtual offices offer a range of services to help your business run efficiently from wherever you are! Aside from a physical address, a virtual office can provide so much more. They can come with a variety of features that maximize your efficiency and boost your business credibility. Depending on your provider, a virtual office can provide features such as a Virtual mailbox and mail management services. They can give you Local or toll-free phone numbers and Live receptionists or answering services. You may also get access to meeting spaces.
Are They Real Street Addresses?
Although the name is ‘virtual’, the address is a real, physical location in the city you select. As such, this address can be used to register your business. It can be used to apply for licenses, set up U.S. bank accounts, and more. Contrary to popular belief, PO boxes are not adequate to fulfill the legal requirements of setting up a U.S. business.
A virtual address will also act as a mailing address. Check with your Virtual Office provider on mail services. For example, Starthub provides full mail management services.
Is a Registered Agent Needed for a Virtual Business Address?
Some Virtual Office and Business Address providers, such as Starthub, may also include a free registered agent. A registered agent is a designated individual in the United States who will be legally responsible for incoming correspondence for your company. This is required in most US jurisdictions. The registered agent has to be located in the state in which your business will be incorporated. They also must be responsible for accepting and processing various documents and correspondence on behalf of your company.
Can I Use Them for Payment Gateways?
As mentioned, a virtual business address is, in fact, a physical address. This is incredibly important for opening a bank account and applying to payment gateways. So, yes, a virtual address is ideal for these scenarios.
Purchasing a virtual business address through Starthub is the easiest way to get a Virtual Business Address today. And Starthub also offers many additional services such as live receptionists and local phone numbers to help your business achieve its maximum potential in the U.S.! For a full preview on what Starthub can offer your expanding company, click here.