Years prior to the launch of BizFile, Singapore’s business registration process was a tedious work. Individuals who want to establish a company are required to go to the Registry of Companies and Businesses to fill out a form.
To address this inconvenience, ACRA introduced BizFile in 2004. It is an online directory for corporate paperwork where business data are uploaded, stored and retrieved.
Since its launch, companies are required to submit all filings online via BizFile. The growing transactions each year pushed ACRA to improve the service, hence, the system was revamped in 2016 and became BizFile+.
Using BizFile For Your Singapore Business Registration
When accessing the BizFile system, you need a Singapore Personal Access password (Singpass) to be able to interact with the government. This will serve as your digital signature. However, only Singapore residents can apply for Singpass. Non-Singapore companies or individuals can seek the help of a corporate services provider agent to act on their behalf.
Key Features of BizFile Online
Here are some of the major activities that you can do online in BizFile’s web system:
- Business registration
- Company cessation
- Annual filing of statutory obligations
- Updating business information or company particulars
- Incorporation of a local company
- Central directory of UEN (Unique Entity Number)
What’s New in BizFile+
The 2016 update of BizFile primarily includes two major changes:
Compliance with Companies (Amendment) Act 2014
The new BizFile system reflects the legislative changes to the Companies (Amendment) Act 2014 and the new Business Names Registration Act (BNRA).
Improved User Interface
BizFile+ is easier to use. When you log in, your personal dashboard is customized according to your needs. You will see the information and services that are most relevant to you. The 2016 update also added more mobile options. For iPhone users, the ACRA On The Go app will allow you to search in the ACRA directory, access the frequently asked questions tab, and calculate the company’s AGM due date.
Streamlining the Regulatory Fee Structure
The Regulatory Fee Structure has been redesigned, resulting in a slight increment in annual registration fees. On the other hand, a good number of ad-hoc transactions that previously come at a cost are now available for free.
Frequently Asked Questions About BizFile Singapore
How long does it take for BizFile to process my business registration in Singapore?
For sole proprietorships and partnerships, business registrations are often approved within 15 minutes after the payment of the registration fee. On the other hand, if the company needs to be referred to a government body, the process may take between 14 to 60 days.
How can I update my company’s registered address in BizFile?
The Companies Act requires business owners to have a valid registered address. Should you need to change your address, it is important that you update your business information in BizFile online within 14 days after the change. Failure to update or maintain a valid address may lead to penalties. Your company secretary can update it on BizFile through the following steps:
- Submit a board resolution to amend the office address in writing.
- Log into BizFile online using CorpPass.
- Select Change in Company Information then choose Change in Registered Office Address and Office Hours.
- Indicate the new address. You may attach supporting documents should your new address require approval from the government.