Business

ACRA BizFilein Singapore

BizFile is a digitalized forum where you are free to upload, stock, and download data on businesses that are enlisted in Singapore. It’s furthermore the method that firms use to submit due filings online and conduct other crucial chores.

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As a business owner in Singapore, you or your corporate secretary will require to interact with BizFile regularly.

What is ACRA BizFile?

BizFile+ is an online platform of ACRA. It’s a website where you can upload, download, store data. It’s also the outlet that firms use to provide their due filings online and conduct other business tasks.

If your corporation is regulated in Singapore, BizFile+ is a vital tool.

What can I do with ACRA BizFile?

Is your corporation or one of the branches of your company is established in Singapore? Then you or your Corporate Secretary will use BizFile+ for a spectrum of works.

Here are the largely popular works you or your corporate secretary will require to conduct in BizFile:

  • Online enrollment and termination of a company
  • Provide all due filings
  • Submit modifications in private details of company members, officials, and controllers
  • Inform ACRA of modifications to your firm’s address
  • Access UEN main handbook and search
  • Interface with the IRAS (Inland Revenue Authority of Singapore) and additional key policies

Do I need to notify ACRA?

Yes. You are compelled to inform ACRA within 14 days of creating modification to your company.

You’ll need to notify ACRA about:

  • Shifting the name of the company or reported address
  • Alterations to your company’s career actions
  • Expanding or reducing shareholders
  • Expanding or lessening your company’s share equity
  • Nominating or eliminating a company director
  • Modifications to the private details of company members

Who can use ACRA BizFile?

Permanent Residents, Singapore citizens, and select working permit owners can wield ACRA BizFile.

Foreigners will require hiring a skilled agency or expert online corporate secretary such as HeySara to handle these chores for them.

What if I fail to inform ACRA about company modifications?

If in case, you fail to acquaint ACRA of company modifications within the 14-day window, your company will have to incur a late lodgment payment of S$50-S$350.

The downfall to instruct ACRA can also develop a fine of up to S$5000, and insolvency penalties for the company and every company director.

How to update my company’s registered address?

Revamping your firm’s address in ACRA BizFile is free. But you will incur a late-filing liability of at least S$50 to S$350 if you flunk to revise ACRA before the 14-day deadline has expired.

Altering your firm’s address in BizFile is a simple process.

If you are not a Singapore inhabitant, a competent agent or corporate secretarial company will require dealing with this for you.

How much time does it take for BizFile to refine the modification of address and revamp other agencies?

BizFile will need about 5 to 15 minutes to process your company’s address change.

ACRA can take time of around 3 days to 2 months to update your address with other agents. Normally, you encounter extended processing periods if ACRA works with other agencies to study and ratify your application.

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