ACRA: Singapore Registrar of Companies (ROC)
Companies worldwide are subject to regulations to protect the business, the employees, and the customers. These are necessary to ensure the sustainability and continuity of businesses. Every nation has a designated body tasked with overseeing and monitoring all the companies and their activities. These agencies are also responsible for registering them into a database to ensure they are legitimate. At the same time, they are checking if these companies are compliant with all the regulations.
In Singapore, the concept is the same. It has an appointed regulator named the Accounting and Corporate Regulatory Authority (ACRA) for all the companies and aspiring entrepreneurs in the country. In this article, we learn about this regulator.
What is ACRA?
ACRA (Accounting and Corporate Regulatory Authority) in Singapore is the statutory board that oversees the regulation of companies and public accountants and facilitates the development of companies. ACRA Singapore is also vested with the power to impose composition fines and issue court summonses to companies that have defaulted on the ongoing compliance requirements set out under the Companies’ Act.
ACRA Singapore, commonly known as the Registrar of Companies, also functions as a Singapore registry of companies and businesses similar to a registrar in countries such as the United Kingdom, India and Bermuda. It’s also your go-to when checking the company registration status in Singapore or its details.
What Does ACRA Do?
The Accounting and Corporate Regulatory Authority (ACRA) plays a central role in upholding Singapore’s corporate and financial integrity. Its responsibilities span across three core areas:
- Regulating business registration, financial reporting, public accountants, and corporate service providers
- Developing the accounting sector
- Establishing corporate and regulatory standards for businesses, charities, and co-operative societies
Legal Authority and Entity Status Under the ACRA Act, ACRA is established as a corporate body with legal standing. This means it can sue and be sued in a court of law, as well as purchase, own, develop, and dispose of both movable and immovable assets. As a separate legal entity, ACRA also has the authority to enter into contracts necessary for executing its duties and to participate in joint ventures or companies upon approval from the Minister.
1. Regulating Business Registration
Streamlining Business Registration: All new businesses in Singapore must be registered with ACRA. Through its online platform BizFile+, ACRA simplifies the process, allowing companies to register quickly and obtain a Unique Entity Number (UEN). This identifier ensures seamless operations within Singapore’s regulatory environment.
Ensuring Regulatory Compliance: As Singapore’s primary business regulator, ACRA enforces compliance with the Companies Act and related legislation. It oversees corporate governance practices, financial reporting, and other statutory requirements, ensuring businesses operate within legal boundaries.
Maintaining Accurate Business Records: ACRA manages a comprehensive database of corporate information, including directors, shareholders, and company secretaries, ensuring business profiles remain up-to-date and transparent for public access. It also safeguards key company documents, such as the Singapore ACRA registration number and business profile documents.
2. Developing the Accounting Sector
Promoting Reliable Financial Reporting: ACRA champions transparency by advocating for the accurate preparation and timely disclosure of financial statements, fostering trust and sound decision-making within the business community.
Formulating Accounting Standards: To ensure consistency and reliability, ACRA develops and maintains accounting standards for companies, charities, and co-operative societies in Singapore.
Providing a Conducive Regulatory Environment: ACRA fosters a supportive framework for businesses and public accountants, making Singapore a trusted destination for enterprise and professional services.
3. Establishing Business and Regulatory Standards
Administering Key Legislation ACRA administers a range of legislative acts that govern business entities and accounting practices in Singapore, including:
- Accounting and Corporate Regulatory Authority Act (2004)
- Accountants Act (2004)
- Business Names Registration Act (2014)
- Companies Act (1967)
- Limited Liability Partnerships Act (2005)
- Limited Partnerships Act (2008)
- Variable Capital Companies Act (2018)
This legislative oversight promotes transparency, accountability, and strong corporate governance across sectors. (For full legal references, please visit the Singapore Statutes Online at the AGC’s website.)
Encouraging International Collaboration ACRA actively collaborates with global and regional counterparts to exchange best practices, promote thought leadership, and expand the international influence of Singapore’s accountancy sector. It may also become a member or affiliate of international organisations aligned with its objectives.
Enforcing Compliance Through Penalties To maintain regulatory discipline, ACRA has the authority to impose fines or initiate court actions against companies that breach compliance requirements.
Overseeing Proper Business Closure When a business ceases operations, ACRA ensures a responsible and complete deregistration process, helping prevent unresolved liabilities and ensuring legal closure.
Raising Public Awareness ACRA regularly educates the public and business community through outreach initiatives, campaigns, and accessible resources, helping stakeholders stay informed about evolving compliance obligations and corporate governance standards.
Who is the Registrar Body in Singapore?
For an organisation to function, officers need to be put in place. In the case of ACRA, a chairman and members of around 10 to 15 are required.
The members should include one public accountant and one non-practising accountant. The Minister chooses from at least two nominated members.
Getting to Know the Electronic Portal- Bizfile
Like other government agencies and statutory boards, Bizfile is ACRA’s electronic portal through which companies may submit applications and submissions. The Ministry of Manpower(MOM) also uses an electronic portal that can be separately accessed, known as EPOL (“Employment Pass Online”).
Prior to 2003, all applications and submissions, such as an application for the incorporation of a company, had to be done manually, by queuing up at ROC Singapore’s service center, known as ACRA Service Center Inc.
However, Singapore ACRA has expedited the process by allowing companies to make applications and submissions electronically through Bizfile. However, since applications and submissions can be retrieved electronically by companies, it would be prudent for companies to consult a professional corporate services provider, like 3E Accounting, to seek advice and assistance for any applications and submissions.
Submissions and Applications on Bizfile
Almost all submissions and applications required under the Companies Act can be submitted via Bizfile. The principal activities accepted by Singapore ACRA are set out in the Singapore Standard Industrial Classification (“SSIC”). If a company enters the wrong SSIC code for its name reservation, this could potentially impact the approval of the name reservation application, as some SSIC codes chosen will automatically require approval from certain government entities, such as principal activities in medicine, architecture or financial advisory services.
It should also be noted that while ACRA approves a company’s name application and its proposed principal activities, it does not grant the business license for the actual business operations. One crucial point to note is that to make any applications or submissions via Bizfile, one is required to have a SingPass, which is an electronic identity that is given to Singapore Citizens and Singapore Permanent Residents.
Foreigners who hold Employment Passes, Personalised Employment Passes, EntrePass, S-Pass, Dependent Pass, Long-Term Visit Pass-Plus and selected Work Permit Holders may also apply to obtain a SingPass. Upon approval of your application, the SingPass will be sent to your local address within four working days. For regional and foreign entrepreneurs with a tight leash on their outgoing expenses, attempting the incorporation process or corporate transactions via Bizfile may be tempting. However, while this may save costs, the incorporation process requires a degree of preparation for specific sections. All companies are required to have a registered office in Singapore at the point of incorporation.
Due to the requirements of specific lease contracts, this typically poses a difficulty for both local and foreign entrepreneurs and foreign corporations, as landlords may require companies to provide their company registration number on the application form, which cannot be provided prior to incorporation. For more information and for the successful incorporation of your company in Singapore, speak to us at 3E Accounting.
Looking into Company Details through ACRA: Accounting and Corporate Regulatory Authority (ACRA)
The online portal of ACRA, Bizfile, really pays off. When you need to check a company’s ROC or business registration number, you can visit the website. You can input the company name, which will lead you to a results page.
ACRA also puts in the Singapore location, contact number and contact details, and even a register of directors for the observer to know it is a trade register of all company-related information allowed for public access.
In addition, the online portal also contains other information, including:
- The status of the company. If it is “live”, the business is up and running.
- The company’s compliance rating for annual filings. A green tick in the following aspects means that the company was able to comply: annual general meeting, latest accounts, and annual return filing.
Initiatives by the Regulatory Body: ACRA
ACRA has been undertaking several initiatives to simplify processes and leverage technology to serve the business community effectively. Below are the key advancements and initiatives introduced up to 2025.:
- In December 2024, ACRA launched a revamped BizFile+ portal, offering an improved user interface and enhanced online experience for business registration and filing.
- ACRA introduced a new API Marketplace in May 2024, designed to provide a secure, scalable, and efficient environment for accessing ACRA’s API services, including financial reporting tools and data extraction.
- The agency implemented the ACRA-IRAS Seamless Filing Initiative, allowing SMEs to automate the preparation and submission of their tax and annual returns directly through accounting software, significantly reducing the time required for compliance.
- From FY2025, ACRA mandates that all listed issuers report and file annual Climate-Related Disclosures (CRD), aligned with the International Sustainability Standards Board (ISSB) standards, as part of Singapore’s efforts to enhance sustainability reporting.
- ACRA continues to enforce the requirement for companies to submit financial statements in XBRL format, ensuring consistency and improving the efficiency of financial data processing.
As of the latest available data, ACRA oversees many business entities and professionals, reflecting its ongoing role in regulating and facilitating Singapore’s corporate landscape.
What Are the Key Changes in the 2024 CSP and LLP Acts?
In line with ongoing regulatory reviews by the Ministry of Finance (MOF) and ACRA, two new bills were passed on 2 July 2024:
- Corporate Service Providers (CSP) Bill
- Companies and Limited Liability Partnerships (Miscellaneous Amendments) Bill (CLLPMA)
These amendments introduce the following major changes:
- Mandatory Registration of CSPs
All businesses providing corporate services in or from Singapore must now register with ACRA as official Corporate Service Providers.
- Enhanced Compliance Obligations
Registered CSPs are required to comply with regulations on anti-money laundering (AML), countering the financing of terrorism (CFT), and proliferation financing (PF).
- Penalties for Non-Compliance
CSPs and their senior management will face fines or sanctions for breaches of AML/CFT/PF regulations.
- Regulation of Nominee Directors
Individuals can no longer act as nominee directors unless appointed through a registered CSP, which must assess their fitness for the role.
- Mandatory Disclosure of Nominee Information
Registered CSPs must disclose the identities of nominee directors, nominee shareholders, and their nominators to ACRA.
- Stricter Enforcement and Higher Penalties
Fines have been increased for violations involving registrable controllers, nominee arrangements, and related disclosures.
ACRA’s API Marketplace: Advancing Digital Interoperability
On 26 May 2024, ACRA launched its API Marketplace, ushering in a new era of digital integration and user experience for businesses accessing regulatory services. Built with cutting-edge technology, this platform simplifies how businesses subscribe to and manage ACRA’s API offerings.
Three Key Features:
- Improved User Interface
The new interface is intuitive and user-friendly, reducing the complexity and time required to access key services.
- Unified Business Account Access
Corppass users from the same entity can now share a single business account, eliminating the need for multiple logins or redundant subscriptions.
- Auto Top-Up Functionality
The system includes an automatic top-up feature that ensures uninterrupted access to services by recharging the account when balances run low.
Note: Existing API services (such as trustBar and XBRL FS) will continue to be available on the ACRA API Mall for current users. However, all new API subscriptions must be made through the new API Marketplace.
Current and Upcoming APIs:
- Available Now: Entity and Financial Information Query APIs
- Coming Soon:
- trustBar Verification API (by end of 2024)
- Transactional APIs
- XBRL FS Upload APIs
- New Data APIs (by March 2025)
- trustBar Verification API (by end of 2024)
The launch of the API Marketplace marks a major milestone in digital transformation, offering businesses a more seamless, secure, and scalable platform to manage compliance and reporting requirements.
How to Maintain Compliance with ACRA?
Staying compliant with ACRA is essential for maintaining your business’s legal status and credibility in Singapore. Here are the key steps to ensure your company remains in good standing:
1. Access Your Official Business Profile
Once your company is registered, ACRA will issue an official business profile via BizFile+. This document is proof of your company’s legal existence and is required for essential business functions such as opening a bank account, entering into contracts, or liaising with government agencies.
Processing time: Approximately 5 minutes
Cost: Free
2. Keep Company Information Up to Date
Accurate company details are crucial for compliance. If there are any changes, such as a new business address, updates to shareholders or directors, or changes in business activities, you must report them to ACRA within the stipulated timeframe.
Failure to do so may lead to fines or legal consequences.
Processing time: 5–15 minutes
Cost: Up to SGD 15
3. Fulfill Annual Filing Requirements
All Singapore-registered companies are required to file annual returns and, where applicable, audited financial statements with ACRA. These filings ensure that your business remains transparent and compliant with statutory obligations.
Processing time: 5–10 minutes
Cost: Up to SGD 60
4. Stay Updated with ACRA Notices and Announcements
Regularly check ACRA’s website and official communications for regulatory updates, compliance guidelines, and new service announcements. Staying informed helps you adapt to regulatory changes and maintain ongoing compliance in Singapore’s dynamic business environment.
