Who doesn’t want to run an amazing business from the comfort of home? If you have a new business plan and dealing with the daily travelling routine is not what you want to do, then starting a home business in Singapore is the best option for you. No hassle of travelling, no bustling of city traffic, and no early morning routine just to reach your office on time. There are countless benefits to having a home office.
You can apply for Home Office Scheme to start your business. But there are some guidelines, criteria, and insights that you must know before getting into the application process. Let’s get a sneak peek into these key aspects.
What are the Eligibility Criteria?
Like other schemes, there are certain defined eligibility metrics in this home office scheme which you must comply with. Here are those basic guidelines:
- Your home office flat must be under the use of your residency. The applicant must be a tenant or flat owner to prove this residency.
- You cannot keep more than two non-residents along with yourself as your home office employees.
- Your mentioned business must be in the list of permitted business under the Home Office scheme. Failing to comply with this list of businesses would result in immediate termination of license and all business activities in the flat.
- Your home business should not be a source of disturbance for the neighbors. All the business activities performed in your flat must be administrative. You cannot sell goods in the flat or anywhere in the vicinity of your flat.
- You must always comply with all the other regulations and guidelines enlisted under the Home Office Scheme.
Which Permissible Businesses Fall Under the Home Office Scheme?
As stated in the guidelines, an applicant can only start the permissible businesses in the HDB flat. No other business, administrative or non-administrative, is allowed to be operated in the flat. Here are these permissible businesses:
- Accountancy services
- Architectural services
- Consultancy services
- Advertising services
- Insurance services
- Real estate agencies
- Technology-based/IT businesses
- Trading office
Can I Run a Home Business Which Does Not Fall Under Permissible Business Categories?
Make no mistake, if your business does not fall under these categories, still you can run the administrative tasks of the business in your HDB flat after registering with Accounting and Corporate Regulatory Authority (ACRA).
Let’s take an example into consideration. Assume that you are running a courier business and you have an active website. All you can do is to run and manage the website in your HDB flat. All the courier delivery operations would be performed somewhere else.
What are the Safety Requirements for Home Office Scheme?
There is no compromise on your safety as well as the safety of your neighbors. You have to abide by the safety regulations before applying for the license. There requirements comprise:
- Presence of a single-station smoke detector in your flat.
- Presence of a Dry Chemical Powder fire extinguisher.
- No presence of hazardous chemicals in the flat.
- Compliance with the regulations of other government authorities.
- No consumption of electricity for business purposes that exceeds the normal residential electricity consumption limit.
Is There Any Home Office License Renewal Process?
No, business owners don’t need to apply for the renewal of home office license at any stage. This license is valid until you are running your registered home business. Termination of business activities would automatically terminate the validity of the license.