Virtual addresses are rapidly growing especially among entrepreneurs who are looking for flexibility and privacy. Businesses or startups that do not want to use their home address to register their company, can use a virtual address that third parties offer.
When incorporating a limited company in the UK, it is a legal requirement to provide an address to Companies House. This address will be available on the public register for people to access it easily.
If you want your business to be based remotely or at home, you can use a virtual address to register your business for privacy and professional purposes. Customers tend to trust businesses that have a professional image.
Is a virtual address good for privacy? This article will explore how virtual addresses work, how they offer privacy, and the benefits businesses can get from utilising virtual addresses.
A virtual address is a physical location used to receive and forward post / mails, as well as for any services that need the provision of address details. A virtual office address is supplied by a third-party service, and can be utilised as the registered office address, mailing address, or business address of your company. Virtual office addresses are suitable for use on official documents, websites, and business cards, enhancing the professional image of your company, etc.
In the UK, virtual addresses are legally recognised, and the Companies Act 2006 permits businesses to use a virtual office address as their registered office.
Keeps your home address private
When you incorporate your company, your company’s registered office address or director’s correspondence address will be made publicly visible on Companies House register. This information is available for the general public and hence can result in ending up on third party websites. This can result in unauthorised use of your address by other companies, you may also receive junk mails, even unexpected visitors is a possibility.
A virtual address is a great way that can help you keep your home address private and unavailable for third party websites and unexpected visitors. As a director, you can purchase a virtual address for your company and use it as your company’s registered office address, director's correspondence address with Companies House, HMRC, for your company website,etc.
Mail handling services
Virtual address services come with mail-handling services, this means that you can receive posts / mails at the address allocated to you. With the mail handling service you do not worry about junk mail as there will be a dedicated staff to sort your mail for you. Your letters can be scanned and emailed to you or forwarded to you. You can even decide if you want to collect the post yourself. Icon Offices gives their customers the option to select how they wish their post to be dealt with i.e. scanned and emailed, forwarded or to be collected from the office unlike other service providers where your posts are usually scanned and emailed to you by default.
Professional appearance
If you are running a startup business from home, a virtual address gives your business a professional appearance. This will hide the home setup business from customers, partners, and potential investors. You can hire meeting rooms for business meet-ups with clients, presentations, and discussions all at an affordable price.
Identity theft
Fraudsters tend to use other businesses' addresses without authorisation to commit fraudulent activities. A virtual address will help protect your business from unauthorised use of your company’s address. Once the virtual office service agents notice suspicious activities, they can report it to Companies House or other relevant authorities.
Separates business from personal information
Virtual addresses will only be used for business information making it easier to keep your personal information private. This layer of separation keeps your home address which handles your personal information private.
Confidentiality
Virtual addresses keep contractual agreements or confidential information private. Virtual office providers make sure your confidential mail is not opened before it reaches you.
Most businesses deal with confidentiality information like law firms may need their mail to be handled with utmost security. Once a business subscribes to a virtual address service, mail handling is an additional service that comes with the package.
Virtual office service providers will handle your business mail sent to your allocated address, and they will sort it for you. Once mail is sent to your virtual office address, you have the right to decide how you want to receive it. It can either be scanned ,forwarded or can be collected to your preferred address.
Once your mail is scanned, it becomes digital data which is open to data breach or cyber-attack. This might bring oversight concerns to businesses; did they go through the document while scanning it? Or did they keep a copy to themselves? To be sure that your information is handled with utmost security and privacy, it is important to choose a service provider that has robust security measures for data breaches.
Virtual offices are recognised and regulated under UK law and service providers have to adhere to all privacy laws and regulations regarding handling sensitive information.
Virtual office addresses have some restrictions that businesses have to be familiar with. Before a business, director, or account handler gets a virtual office address, they have to pass the Anti-Money Laundering (AML) regulations. These regulations involve providing ID, proof of address, and answering important details about your business.
A virtual office address must be located at a physical address if it is going to be used as a registered address. It is a legal requirement for a registered address to be located in the same jurisdiction as your business location.
The address is also restricted to some businesses. Some business providers may restrict businesses that deal with alcohol, adult businesses, businesses handling firearms, and others. You should check with your service provider to see if they restrict any type of business from using a virtual address.
In conclusion, virtual addresses serve as a powerful tool for privacy. Working from home is convenient and offers flexibility, however, businesses do not have to broadcast their residential addresses to the public. It is also a powerful tool for businesses looking to enhance professionalism, flexibility, and cost-effectiveness. In the ever-evolving business landscape, it is crucial to prioritise the privacy of your business.
At Icon Offices we take the confidentiality of mails very seriously. We respect our customers’ privacy since they have trusted us to handle valuable business information. To get your own virtual office address please click here.