Permanent addresses are usually used for bank accounts, driver’s licenses, businesses, and other legal documents.
Using a permanent address for business registration will save you a lot of time & headaches. Here’s everything you need to know about permanent addresses and alternate solutions.
What Exactly is a Permanent Address, and How is it Used?
A permanent address is a physical location that a person maintains so that they can be contacted. This may be their home, an apartment, or a business address. In some cases, a permanent address may include other identifying information, such as the person’s date of birth or driver’s license number.
A permanent address is essential for a variety of reasons. For example, it can help you identify yourself if you need to contact someone in an emergency and can be used to receive mail and other deliveries. Additionally, it can be used when applying for jobs or participating in other activities that require identification.
The Different Types of Permanent Addresses
Permanent Address For Individuals
Permanent addresses for an individual are physical addresses where the person lives most of the time. If you have lived at that address for many years, it’s your permanent address.
If you stay in various places during the year, for example, traveling or living with other people, your permanent address will be what you call “home.”
For example, if you’re looking to get a driver’s license, you’ll need to give your permanent address.
Your permanent residence is typically a place you own within a country where you are legally authorized to live and work. You might also be a citizen of that country.
Your permanent address is also an address that you readily have access to and can regularly receive your mail.
Permanent Address For Businesses
In the United States, when you form a legal entity in a particular state, you must ensure that your legal entity remains solid. The rules vary by state and sometimes by country.
If you are creating a business entity, you’ll need to designate the address in the state where your business is physically located where you are registering your company.
For example, you would need a valid physical address in New York to register your company there.
Multinationals and other companies with offices worldwide can meet this compliance requirement by setting up one of their own offices in the state.
However, small businesses looking to register in different states and do not have offices in all states will need to work with registered agents as their legal representatives in the state. This way, the small business uses the registered agent’s physical address in the state to satisfy company registration requirements.
What Are The Requirements For A Permanent Address?
Although there is no clear definition of what makes a permanent address, let’s look at the typical requirements.
A permanent address is where you stay, like a home, apartment building, condo, loft, residential building, or dormitories.
However, hotels, motels, holiday houses, and other temporary places you may stay are not considered your permanent address.
In most cases, though, people go to hotels for a short time. Someone can stay at a hotel indefinitely, but people usually use it as a temporary address in most situations.
You will use a permanent address for your tax filings and other legal documents. To have a permanent address, you must meet specific requirements. The requirement for a permanent address in the U.S. are:
- You must be a U.S. citizen or resident alien.
- You must live in the area for at least six months out of the year.
- You must have a physical address and cannot use a mailing address or P.O. box as your permanent address.
What Distinguishes a Permanent Address From a Mailing Address?
A person’s long-term residence is their permanent address, and the person’s house, apartment, or other residential property is their permanent address. A business’s permanent address could be its office’s location or corporate headquarters’ address.
You can also get mail delivered to the permanent address because it is a physical address. In other words, if you receive mail at your permanent address, that address can also serve as your mailing address.
On the other hand, a mailing address is where mail is delivered. Unlike your permanent address, a mailing address does not always represent the place you reside. For instance, you might reside in Location A but prefer that your mail be delivered to Location B. Location A in this scenario is your permanent address, while Place B is the mailing address.
A corporation may have numerous offices, meaning it may have multiple permanent addresses. The same organization may, however, prefer that all mail be delivered to the headquarters address.
The headquarters address in that situation serves as both a mailing address and a permanent address. The company’s headquarters serves as the mailing address for all other offices, which are also permanent addresses.
What are the drawbacks of not having a Permanent Address?
There are a few drawbacks to not having a Permanent Address. First, getting or maintaining a job can be difficult if you don’t have an official address, and you may also find it more difficult to access government services or receive mail. Additionally, if you ever lose your Permanent Address, you’ll need to go through the process of getting a new one.
Is a Permanent Address Required for Business?
For some, a physical address might be desired. Others may need to establish an LLC or LLP for tax purposes. You may desire an address for your small businesses, which is very much possible depending on what your small business offers.
A permanent address can be a real lifesaver. It is helpful if you need to file a tax return or receive government benefits, but it can also be helpful when looking for a job. A permanent address gives employers and other institutions an easy way to track your whereabouts, saving you time and hassle in the future. If you don’t have a permanent address, now is the time to get one.