What is ACRA BizFile+, And Why Do You Need It?
BiZFile+ is one of the e-portal made available by the Singapore government for businesses to interact with its agencies. It enables a business to upload, store, and download important details related to businesses that are registered with ACRA. The portal makes the online submission of statutory filings easy for businesses.
In many companies, the company secretary accesses the BizFile+ portal to convey changes in the company to ACRA. Singaporeans and permanent residents use their SingPass ID to access data. However, foreigners have to hire a professional corporate services provider to log-in on the BizFile portal for tasks like company incorporation in Singapore and various types of statutory filings.
Read on to know more about ACRA Singapore BizFile+ e-portal.
What is ACRA in Singapore?
Accounting and Corporate Regulatory Authority, also known as ACRA, acts as the Company Registrar of Singapore. As the national regulator, this agency regulates all businesses, providers of corporate services, and public accountants in the country. It facilitates ordered and easy company operations and business activities in Singapore. ACRA actively takes part in the enforcement of the Company Law of Singapore.
The agency maintains a register of details of businesses incorporated in Singapore. The information is available in the public domain and is accessible using the BizFile+ portal. The investors find access to company information really useful in researching a company. ACRA encourages changes in the legislation and regulations to make doing business in Singapore easy for business owners.
What Can I Use ACRA BizFile+ for?
Your Singapore company and Corporate Secretary can use the BizFile+ portal for various purposes. They are as follows:
- Online Singapore company registration and winding up of a company
- Submit statutory filings
- Convey changes in the company’s structure to ACRA
- Convey changes in company’s address to ACRA
- Convey changes in shareholders, company officers, and controllers to ACRA
- Access UEN central directory and search Interface with the IRAS
Can I Access ACRA BizFile+?
You need to have a SingPass ID to access BizFile+. It means only Singapore citizens, permanent residents, and select work pass holders (EntrePass) can access ACRA BizFile+. Foreigners do not have a SingPass ID, so they cannot access the portal.
Can I Sign Up for ACRA BizFile+?
If you need to access BizFile+ as a company, you need a CorpPass to log-in on the portal. You need CorpPass for online corporate transactions. You can use it to interact with over 140 government agencies and services in Singapore.
You can acquire a CorpPass ID if you are a Singapore citizen, permanent resident, or a holder of a select working permit.
Steps for log-in on ACRA BizFile+ portal:
- Go to BizFile+ homepage
- Locate the ‘For Businesses’ section & select your company’s entity structure
- Click on Register
- Complete the steps to sign up on ACRA BizFile
You may hire a company secretary for the task if you are not eligible to use BizFile+.
Notify ACRA About Changes to in Your Company
You need to update any changes in your company with ACRA. You need to notify following changes to ACRA within 14 days:
- Changes in the company’s name
- Changes in the registered address
- Changes in the company’s business activities
- Changes in the company’s share capital
- Changes in the number of shareholders
- Changes in personal details of shareholders
- Changes in a company director
You can be fined up to S$5,000 for failing to notify ACRA. You may also incur a late lodgment fee between S$50-S$350.
How Long Does it Take for BizFile+ to Process a Change?
Singapore ACRA BizFile+ requires only about 5-15 minutes to process a change in company address. ACRA needs 3 days to 2 months to update your new address with other agencies.
You may have to inform about the change in company address to some agencies individually. These are the MOM and CPF board. Log-in on their websites and update your info.
SBS Consulting Pte Ltd is a registered filing agent. We also offer company secretary services to small businesses in Singapore. If you have queries regarding how to use BizFile+ for your business, do not hesitate to contact us on +65-6536 0036 or email us at email@example.com for advice.