However, it is necessary for foreigners to engage a corporate service provider to access Bizfile+ to complete any transactions. The Singapore Government has introduced the Corppass digital ID for business entities to file all transactions with government agencies. Corppass is gradually replacing Singpass, which was the login method previously and is still in use at some places. The portal is designed with customised dashboards pertaining to each user. That means you can clearly see the most relevant information and services.
Corporate goals:
With BizFile’s paperless approach, companies can save a lot of time that was earlier required in official transactions. It also has made transactions easy and faster as compared to paper-based methods. Before the launch of ACRA BizFile, these processes would take days to complete. But now companies can perform these transactions online in mere minutes. The Singapore Companies Act requires your company to file annual returns with ACRA.
It is similar to the registrar of companies that you might have in your country. If you are planning to incorporate your company in Singapore, you likely will have questions about ACRA. In this article, we have combined the most common frequently asked questions about this regulatory authority and provided answers. Most of the information lodged with ACRA via BizFile+, ACRA’s online registry system, can be accessed by the public upon payment of a fee. Some of the information can also be obtained from ACRA’s authorised Information Service Providers (ISPs). With Piloto Asia, you’re not just hiring a company secretary, you’re gaining a reliable partner committed to your business’s success.
Maximising Efficiency: Integrating Business Process Optimisation with Accounting and Expense Management
The CorpPass is required for making transactions in BizFile+ for your entity. Just like SingPass, CorpPass is only granted to Singapore residents, some work pass holders, and permanent residence holders. It is also tasked with regulating public accountants budget definition who are performing statutory audits. On The Go iPhone app has brought all the critical information on your fingertips. Now with BizFile+, you can easily search the ACRA directory, access FAQs, calculate the company’s AGM date, and a range of other services.
✅ Speedy Response – With our guaranteed 24-hour response time, your business will never miss a beat. ✅ Experience – With 15 years of unrivalled service, we understand the intricacies of business operations better than anyone else. It’s worth spending some time making sure you understand what is required of you. As a business, you will know that both your company and relationship between sales and purchase discount your work itself are subject to various rules and regulations.
What are the corporate income tax filing requirements in Singapore?
Singapore Registrar of Companies (ROC) and ACRA are used interchangeably for the same entity. The merger of the Registry of Companies and Businesses with the Public profit and loss statement: a guide for small business owners Accountants’ Board in 2004 resulted in the formation of ACRA. If your company name violates ACRA rules or is already used, you might be refused to register a company under your chosen name.
- BizFile has combined several online processes such as registration, discontinuation of the company, document administration, financial concerns, and reporting system.
- A paper copy of the certificate is no longer issued with incorporation as it is not needed in Singapore.
- For the first time registration, the users will need to use their SingPass.
- The email notification will include Unique Entity Number (UEN) and is treated as the official certificate of incorporation in Singapore.
- To notify ACRA, you must log in to your company account in BizFile+ and submit an online form specifying the changes.
Therefore, a good corporate service provider is needed to help you to keep ACRA updated so you do not have anything to worry about. BizFile is an online filing and information portal which used to provide various electronic services to Singapore businesses. It was replaced by BizFile+ — its upgraded version — introduced in 2016 to handle a more significant number of services and improve the processing time.
Is Company Information in ACRA Available to the Public?
Every country has a body tasked with registering, overseeing, and monitoring the activities of the companies in the country. In Singapore, the responsible government body for this is Accounting and Corporate Regulatory Authority (ACRA). We will facilitate digital engagements with users of our services and with those we regulate and partner with, and influence businesses to adopt environmentally sustainable practices.