A sole-proprietorship is a business owned by one person or one company. There are no partners. The sole-proprietor has absolute say in the running of the business.
A partnership is a business firm formed by two to twenty partners. Once there are more than twenty partners, the partnership must be registered as a company under the Companies Act.
The first step is to choose a name for the business and then register the business. This can be done in two stages or all at one go.
There is now the option of purchasing a Special UEN (Unique Entity Number) for your Business (sole-proprietorship or partnership) where you choose the numbers. A UEN is your business' unique identification number that will be used in all interactions with government agencies.
A local company is a business entity incorporated in Singapore. A company has the right to own property, has perpetual succession and can sue or be sued in its own name. Companies have different setups and are distinguished by the company type e.g. private company limited by shares, exempt private company, public company limited by shares and public company limited by guarantee.
The first step is to choose a name for the company and then register the company. This can be done in two stages or all at one go.
There is now the option of purchasing a Special UEN (Unique Entity Number) for your company where you choose the numbers. A UEN is your company's unique identification number that will be used in all interactions with government agencies.
A foreign company is a company, corporation, association or any other body incorporated outside Singapore. A foreign company may carry on business in Singapore by incorporating a local company or registering as a foreign branch under the Companies Act. The foreign company is required to have a registered name, at least 1 local authorised representative and a registered office in Singapore.
The first step is to apply for approval of the company name first. Once it is approved by the Registrar, you may proceed to incorporate the company.
A Limited Partnership (LP) is a partnership consisting of a minimum of two partners, with at least one general partner and one limited partner. A LP does not have a separate legal entity from the partners, i.e. it cannot sue or be sued or own property in its own name. A general partner is responsible for the actions of a LP and is liable for all debts and obligations of the LP. A limited partner is not liable for debts and obligations of the LP beyond his agreed contribution, provided he does not take part in the management of the LP.
The first step is to choose a name for the LP and then register the LP. This can be done in two stages or all at one go.
There is now the option of purchasing a Special UEN (Unique Entity Number) for your LP where you choose the numbers. A UEN is your LP's unique identification number that will be used in all interactions with government agencies.
A Limited Liability Partnership (LLP) is a business vehicle that gives owners the flexibility of operating as a partnership while having a separate legal identity like a company. A LLP has the right to own property, has perpetual succession and can sue or be sued in its own name. The partners of the LLP will not be held personally liable for any business debts incurred by the LLP. A partner may, however, be held personally liable for claims from losses resulting from his own wrongful act or omission, but will not be held personally liable for such wrongful acts or omissions of any other partner of the LLP.
The step is to choose a name for the LLP and then register the LLP. This can be done in two stages or all at one go.
There is now have the option of purchasing a Special UEN (Unique Entity Number) for your LLP where you choose the numbers. A UEN is your LLP's unique identification number that will be used in all interactions with government agencies.
A public accounting firm (PAF) is set up by a public accountant for the purpose of providing public accountancy services (audit and reporting on financial statements and performing acts that are required by law to be performed by a public accountant). The other types of entities that public accountants can set up to provide public accountancy services are public accounting corporation and accounting limited liability partnership.
The first step is to choose a name for the PAF and then register the PAF. This can be done in two stages or all at one go.
There is now the option of purchasing a Special UEN (Unique Entity Number) for your PAF where you choose the numbers. A UEN is your PAF's unique identification number that will be used in all interactions with government agencies.
Under the Accountants Act, anyone who wishes to practise as a Public Accountant must register with ACRA. The applicant must meet the prescribed requirements for registration as set out in the Accountants Act and its subsidiary legislation. A public accountant (PA) can provide public accountancy services such as audit and reporting on financial statements, and such other activities which the law requires to be done by a PA e.g. a judicial manager. Persons who intend to provide only book-keeping, accounting, taxation or consultancy services i.e. non-audit services need not be registered as PAs.
This is to change the personal particulars of an approved liquidator.
Companies performing corporate secretarial services are also known as corporate service providers (CSPs). Persons wishing to provide CSP services and carry out filing transactions using using BizFile+ must first be registered as a Filing Agent (FA). A registered FA may carry out a transaction with ACRA only if he acts by or through a registered Qualified Individual (QI). A Filing Agent may include a law firm, accounting firm or corporate secretarial firm that provides statutory filing services for its clients. A Qualified Individual may include advocates and solicitors, public accountants, chartered accountants and corporate secretarial agents.
A holding company together with its subsidiary (or subsidiaries) are collectively known as group of companies (GC) in BizFile+. The holding company can register for filing access in Bizfile for authorised person(s) to carry out transactions with ACRA on behalf of the GC. The authorised person can be a secretary, an employee or qualified individual appointed, employed or engaged by the GC and who is not a registered filing agent. At least one secretary from the holding company must also be appointed as the group secretary (GS).
This refers to filing eServices such as Notice of Error, Order of Court, Notification of Cessation of officer, General Lodgement, etc.
The Registrar must be notified whenever there are changes to the business name, business address, business activities or if there are changes to the particulars of the sole-proprietor or partner. The notification of change must be lodged with the Registrar online within 14 days from the date of change. There is no fee payable when filing these changes. However a penalty may be imposed for late filing.
There are certain changes which require the endorsement (consent) of all the partners. Such changes include the addition or withdrawal of the partners. The endorsement must be done within 14 days from the initial submission date. Some changes do not require any endorsement e.g. change of business address, change of business name and change of business activity.
There is an option to renew the business registration for 1 year or 3 years.
A sole-proprietor / partner may notify ACRA that the business is no longer in operation by filing the "Notice of Cessation of Business".
The Registrar must be notified whenever there are changes in the company name, registered office address, business activities or if there are changes to the particulars of the officers. The notification of change must be lodged with the Registrar online within 14 days from the date of change. There is no fee payable when filing these changes. However a penalty may be imposed for late filing.
This is to submit charge related application such as registration of new charge, satisfaction of charge, etc. A charge is a form of security interest usually taken by a lender or creditor (“chargee”) to secure repayment of a loan.
This is to update share information such allotment of new shares, transfer of shares, conversion of share, reduction of share capital and many more.
All locally incorporated companies are required to hold their Annual General Meeting (AGM) and file their Annual Returns under S175, S197 and S201 of the Companies Act.
There are two ways to close a company. A local company may apply to ACRA to strike off its name from ACRA's Register. ACRA may approve the application if there is reasonable cause to believe that the company is not carrying on business, and the company is able to satisfy the criteria for striking off. The other way is to wind up the company. There are a few types of winding up.
The Registrar must be notified whenever there are changes in the company name, registered office address, business activities or if there are changes to the particulars of the officers or authorised representative. The notification of change must be lodged with the Registrar online within 14 days from the date of change. There is no fee payable when filing these changes. However a penalty may be imposed for late filing.
All foreign companies, during their annual filing, are required to lodge their financial statements as well as those of their Singapore Branches with the Registrar.
A foreign branch has to cease its operations in Singapore if its Head Office has been dissolved or is in liquidation. The authorised representative of the foreign branch is required to lodge a “Notice by Authorised Representative of Foreign Company of Liquidation or Dissolution of Company”.
The foreign company may also apply to ACRA for striking off if it is able to satisfy the following criteria:
The Registrar must be notified whenever there are changes in the LP name, address, business activities or if there are changes to the particulars of the LP partners. The notification of change must be lodged with the Registrar online within 14 days from the date of change. There is no fee payable when filing these changes. However a penalty may be imposed for late filing.
There is the option to renew the LP registration for 1 year or 3 years.
A general partner may notify ACRA that the LP has ceased/has been dissolved by filing one of the following transactions :
The Registrar must be notified whenever there are changes in the LLP name, address, business activities or if there are changes to the particulars of the LLP partners or manager. The notification of change must be lodged with the Registrar online within 14 days from the date of change. There is no fee payable when filing these changes. However a penalty may be imposed for late filing.
The manager of every LLP is required to lodge a declaration stating whether the LLP is solvent or insolvent (i.e. able to pay off its debts or not).
There are two ways to close a LLP. A LLP may apply to ACRA to strike its name off ACRA's register. ACRA may approve the application if there is reasonable cause to believe that the LLP is not carrying on business and the LLP is able to satisfy the criteria for striking off. The other way is to wind up the LLP. There are a few types of winding up.
The Registrar of Public Accountants must be notified when there are changes such as to your business activity, registered place of business, partners, etc. Changes relating to the addition or withdrawal of the partners require the endorsement (consent) of all the partners if the transaction is lodged by the public accountant i.e. without the help of a registered filing agent. The notification of the change must be made within 30 days from the date of the change. A penalty may be imposed if the change is notified after 30 days.
A public accountant can apply to cease (revoke) his public accounting firm if he does not wish to continue providing public accountancy services (audit and reporting on financial statements and performing acts that are required by law to be performed by a public accountant) under the entity.
This is to change the personal particulars of a public accountant. The notification of the change must be made within 30 days from the date of the change. A penalty may be imposed if the change is notified after 30 days.
This is to renew your registration as a public accountant. Public Accountants must meet certain renewal requirements.
This is to cancel your registration as a public accountant if you do not wish to continue to practise as a public accountant.
A liquidator is an officer appointed when a company goes into winding up or liquidation. He is responsible for collecting all of the company’s assets and settling all claims against the company before putting the company into dissolution. A person will need to be an approved liquidator in order to be appointed as a liquidator for compulsory winding up (by the Court or creditors). There is no need to register to be an approved liquidator if the person is only performing voluntary winding up (by members or creditors).
This is to renew the approval as an approved liquidator under the Companies Act.
This is to cancel the liquidator's approval.
A Registered Filing Agent (RFA) must notify ACRA if there are changes to the particulars of the RFA such as its nature of business or a change in filing rights. This application can only be filed by authorised officer(s) of the RFA.
A Registered Qualified Individual (RQI) must notify ACRA when there are changes to the personal particulars of the RQI. This application can only be filed by the RQI himself.
An application for the renewal of registration of a Registered Filing Agent (RFA)/ Registered Qualified Individual (RQI) to renew its firm's/ his registration as a RFA/RQI must be made within 60 days before the registration expiry date. A RFA/ RQI may choose to renew its/ his registration for a period of 1 year or 2 years.
This is to de-register your firm/ yourself as a Registered Filing Agent/ Registered Qualified Individual.
This is to update the particulars of Group Secretary, appoint or withdraw Group Secretary(s) within the entities ; add or remove subsidiaries and employees with rights to file transactions for subsidiaries on behalf of the parent company.
This is to de-register the filing access for your Group of Companies.
Business owners can sign up for a whole suite of value added business related services via One Stop Shop @ACRA.
You can generate the details of electronic payments and refunds made in BizFile+ for your business entity over a period of 35 days.
An electronic report that provides information such as Unique Entity Number (UEN), business entity name, business activities, registration date, the details of owners/officers and etc.
An electronic report that comes with a business profile and a certificate of production that is endorsed by the Assistant Registrar of ACRA. It can be produced in court for evidential purposes.
An electronic report that provides a quick and handy checklist to gauge the financial health of a company at one glance.
An electronic report that tracks the business entities a person is / was involved in.
Extracts are copies of forms and attachments filed by entities. Forms filed manually before 13 Jan 2003 will be converted to digital versions upon extract request for online purchase.
A list of Certificates are available to certify business information and/or status of an entity.
Registers provide lodgement details or information of members, directors, CEOs, secretaries or auditors of a company.
Standard Package consists of PDF reports with the following predetermined criteria for the previous one or two months:
Premium membership is designed to increase convenience and cost savings for regular iShop customers such as Corporate Service Providers.
iShop@ACRA is a one-stop business information portal for the business community and the public to search and acquire useful entity information.
The data provided through BizFile+ and in ACRA's business information products is for corporate transparency purposes and to facilitate ease of doing business. Use of such data for ill-intentioned and/or illegal purposes may render the user liable for an offence under the laws of Singapore or elsewehere. Whilst every endeavor is made to ensure that the information provided is updated and correct, the authority disclaims any liability for any damage or loss that may be caused as a result of any error or omission.
Extracts are copies of forms and attachments filed by entities. Forms filed on or after 13 Jan 2003 are electronic extracts. Forms filed manually before 13 Jan 2003 will be converted to digital versions upon extract request for online purchase.
A list of Electronic Certificates (with authentication ID) are available to certify business information and/or status of an entity.
Register products provide lodgement details; lodgement information about the members, directors, CEOs, secretaries or auditors of a company if available.
Pick and Choose Package allows for required information to be selected from a pre-defined set of data groups (comprise both profile and financial data), and presented in the layout and format of preference.
Subscribers of ACRA's data subscription services such as public and private agencies, are eligible for Elite Membership without additional membership fees. Elite members enjoy iShop privileges, as well as features such as Business contingency contact management among others.
Loading...
