There are many decisions that need to be made when establishing and running a business, including but not limited to the amount of registered capital, the business’s name and logo, as well as its registered address. With time, some of these decisions may need to be adjusted or changed, taking various factors into consideration. These may be due to changing preferences or requirements, cost-saving measures, and so forth.
If you need to change your company’s registered address, the first step is to consider whether the business will remain in the same province or move to a different one. Depending on which government agencies and banks the company is registered with, several parties may need to be notified – sometimes one before the other. For example, a company that is registered for VAT, has employees and is registered with the Social Security Office, has one corporate bank account, and is moving its address to another location in the same province, would need to:
1. Notify the Revenue Department office responsible for the existing location that it will be ‘moving out’.
2. Notify the Revenue Department office responsible for the new location that it will be ‘moving in’.
3. Notify the Department of Business Development that the business will be moving to its new location.
4. Notify the Social Security Office that the business will be moving to its new location.
5. Notify the bank with which it has an account about its new registered address.
Companies registered with other government agencies, such as the Customs Department, Board of Investment, and so forth, would normally need to notify these agencies as well. There are several documents that need to be prepared to register the change of company address with the various government agencies including supporting landlord documents for the new address; and an Extraordinary General Meeting preceded by a newspaper announcement calling for the meeting, is normally required additionally where the company is moving to a different province. Likewise, if the company supports any foreigners’ visas and work permits, then this would also need to be taken into consideration.
Should you require assistance with changing your company’s registered address, you are welcome to engage us and we would be pleased to assist, allowing you to focus on your business rather than worry about the process of registering the change with the various government agencies, which can be a somewhat time-consuming process due to its sequential nature and the primarily paper-based registrations.
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