Enhanced Directory Search Function in BizFile+
The provision of the free Business Profile is part of ACRA’s effort to help businesses reduce business costs, and to ease administrative burden, encourage timely filing and facilitate record keeping. Singapore’s Accounting and Corporate Regulatory Authority (ACRA) recently announced that it will be offering all newly registered or incorporated entities a free copy of their Business Profile upon successful registration or incorporation. ACRA said all entities registered with them will receive a free Business Profile once they have successfully renewed their business registration, filled their returns or annual declarations.
A Business Profile is an important document which is needed when one wants to open a corporate bank account under the entity’s name, or as a supporting document for applying licenses and permits. It is an electronic report containing the business information which the entity has filed with ACRA.
Upon the successful incorporation or registration, sole proprietorships / partnerships / LLPs / LPs will receive an an email from ACRA with a URL to download the free Business Profile. It will be sent to the registered email address of the person who filed the registration. As for renewal of registration for sole proprietorships / partnerships / LPs, an email with a URL to download the free Business Profile will be sent to the person who has successfully renewed the entity, the next day. For the filing of annual returns for companies and annual declarations for LLPs, a similar email with a URL to download the free Business Profile will be sent to the registered email address of the person filing the transaction. However, one must note that the link to download the Business Profile will only be valid for seven days from the date of issuance and you are advised to download the free profile upon receiving the email. Others who are eligible to receive the free Business Profile include those who incorporate a local company or register a business. As for limited partnerships, you will receive the Business Profile if you apply to register a new LP, while for foreign companies, you will receive it if you register a branch of a foreign company. As for LLPs and public accounting firms, you will get your Business Profile upon your application to register a new LP or Public Accounting Firm.
As for the renewal of business registrations, you will get a copy of the Business Profile upon renewal. The free Business Profile will also be provided for successful renewal of registrations via ACRA On The Go mobile app. Companies will also receive it when they file their annual returns (local) or after the lodging of financial statements (foreign companies).
With the Directory Search function in BizFile+ portal, it helps the public to search for information on more than 500,000 business entities registered with ACRA. The free service will allow an entity’s registered business name or business registration number to be searchable for the Members of the public.
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