- Businesses must update any changes to company information on Bizfile through ACRA’s online portal using CorpPass.
- Companies are required to notify ACRA of most changes within 14 days to remain compliant.
- The new Bizfile portal launched on 9 December 2024, replacing the previous Bizfile system.
- Most updates to company details on Bizfile are free of charge, though some filings may involve administrative fees.
Keeping your company information up-to-date is vital for compliance and maintaining stakeholder trust. This guide simplifies how to update company details using Bizfile, ensuring accuracy and efficiency.
Bizfile is the go-to platform for managing administrative tasks related to your local company. As the primary business filing portal in Singapore, it streamlines processes like updating company details, making it easier to stay compliant and organised.
Whether you’re a new entrepreneur or experienced business owner, this guide on ‘How to update company details using bizfile’ provides the knowledge to keep your business information current through Bizfile.
Bizfile: Your one-stop shop for company updates
Before diving into how to update company details using Bizfile, let’s understand what Bizfile is. It is the Accounting and Corporate Regulatory Authority (ACRA)’s official online filing platform in Singapore.
Companies must update any changes to their information on Bizfile within 14 days from the date of the change to avoid late lodgement penalties.
It’s a central resource for all company update needs, from address changes to more complex updates. On 9 December 2024, ACRA launched the new Bizfile portal to replace the earlier Bizfile system, offering an improved interface and more streamlined digital services for businesses.
A step-by-step guide: How to update company details using Bizfile
First, gather necessary documents. These may include your company’s Unique Entity Number (UEN), identification documents for company officers, and supporting documents for your changes.
Next, log in. Access the Bizfile website using your CorpPass. CorpPass replaced SingPass for business transactions with ACRA in September 2018.
Updating company information
This section covers updating details such as company name, local company registered office address, principal business activities, and office hours. Select the “Change in Company Information including Appointment/Cessation of Company Officers/Auditors” transaction.
- Changing your company name: Prepare your proposed new name, relevant transaction numbers for existing name applications, and approval letters regarding charity status.
- Changing your business activities: Prepare your new Singapore Standard Industrial Classification (SSIC) code. Ensure it aligns with your company’s updated operations and have the effective date of the changes.
- Changing your address or office hours: Update your physical address and/or operating hours ready.
- Adding or removing company officers/auditors: Gather necessary information, including names, contact number, email address, dates of appointment/cessation, and positions held.
Before filling out the Bizfile form, ensure each change is documented with the corresponding form.
Updating particulars of company officers
Changes to your local company officers’ or authorized representatives’ particulars, such as identification type, identification number, residential address, nationality, and designation, are recorded using Bizfile.
- Changing identification type: Note the effective date of change.
- Changing name: Upload the supporting Deed Poll.
Updating shareholder information
Any changes in share allotment or transfer of shares among shareholders must be updated. Provide the necessary details for any changes in share allocation among current shareholders.
Additionally, ensure to include specifics on the number of shares, class of shares, date of allotment, and the shareholder information, such as the percentage of ownership.
Updating for foreign companies
Foreign companies follow similar steps for changes like company name or address updates, adding or removing an authorized representative or director, providing an updated charter, statutes or articles of incorporation.
Be sure to have documents at the ready when doing updates such as the date and approval of name or charter changes by the respective authorities for your business filing. You should also make sure you have the updated particulars of your local company.
Foreign company updates also include changing registered address at home base and updating other relevant particulars based on your foreign company type. Additional information such as registration date and country of origin could be required.
Types of updates available in Bizfile
ACRA now explicitly lists the types of entity updates available.
These include:
- entity name
- registered office address
- email address
- business activities
- officers and shareholders
- constitution updates
Best practices for your Singapore business
Update your company information promptly. Don’t wait until the last minute. Timely updates ensure accuracy and prevent compliance issues.
Regularly review your company information, even if no immediate changes are apparent. Periodic reviews can prevent bigger mistakes that could lead to noncompliance or other business issues.
Contact number or alternate address may be included in the information you should review regularly.
Navigating common challenges
Sometimes, you may encounter challenges, such as missing documents, inaccurate records, or delayed application responses. There might be technical errors encountered on the website itself that result in needing to file your transaction at a different time or troubleshoot other related issues.
Troubleshooting Common Issues
| Issue | Resolution |
|---|---|
| Incorrect Information | Double-check provided information against governing documentation. Verify every detail including contact number, alternate address, and email address. |
| Technical Issues with the Website | Use a compatible browser and stable internet connection. Contact ACRA if problems persist. Be aware that there may be certain times of day or dates where there is increased activity or routine maintenance being performed. |
Understanding CorpPass
To transact on Bizfile, your company needs a valid CorpPass account. CorpPass is a digital identity for businesses to securely transact with government agencies online.
This allows companies to complete required filings such as public accounting or other financial statements. Ensure you keep your CorpPass information secure as you would with any government identification.
The Singapore government agency websites, like ACRA’s, provide necessary resources to help your business comply with the accounting standards for the Singapore market.
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FAQs about Singapore holding companies
What if I have multiple Bizfile transactions to complete?
If there are a large number of transactions to make, consider working with a qualified professional, such as an accountant, legal professional, or registered filing agent, who is experienced in Limited Partnerships or Limited Liability Partnerships. Professionals are particularly helpful when a number of officers need to resign as company officers or new appointments are required, in addition to a range of other possible requirements. They can help organize and process them efficiently.
Can I submit the necessary forms and documents in physical hard copies rather than digital?
No. Since June 2004, all filings, forms, and supporting documents required to update company details using Bizfile, such as changes in shareholders, directors, or registered address, must be done through electronic format via the portal as per requirements established by ACRA.
How do I get a business registration number in Singapore?
To obtain a business registration number in Singapore, register your business with ACRA through the Bizfile portal. Upon successful registration, your business will be assigned a UEN automatically. This registration also provides access to a free business profile, which is essential for business operations. Depending on your business type, additional licenses may be required, which can be checked via the GoBusiness Licensing portal.
Can I do business without registering in Singapore?
No, conducting business without registration is not permitted in Singapore. All businesses must register with ACRA unless exempted under specific circumstances, such as conducting business under one’s full name without additional trade names. Unregistered businesses may face penalties and legal action.
Where can I access Bizfile to update company details?
Bizfile is accessible via its online portal, which allows local companies or foreign companies to log in securely and update company details as needed.
