Updating your company information with the Accounting and Corporate Regulatory Authority (ACRA) is an essential task for businesses in Singapore. Whether you’ve changed your business address, directors, company name, or other key details, ensuring that ACRA has up-to-date information is critical for compliance.

In this article, we’ll walk you through the step-by-step process to update your company information with ACRA. Plus, we’ll show you how ccMonet can simplify the entire process by automating the tracking of important updates and providing seamless financial management tools.

1. Understand Which Company Information Needs to Be Updated

ACRA requires that certain company information be kept current, including:

• Registered Office Address: If your company moves to a new location, ACRA needs to be notified.
• Directors and Officers: Any changes in your company’s directors, secretary, or other key officers should be updated with ACRA.
• Shareholders: If there is a change in the company’s shareholders, you must update the register.
• Company Name: If you decide to change the company name, ACRA needs to be informed.
• Business Activities: If your business activities have changed (e.g., expanding into a new industry), this must also be updated.

Ensuring that this information is up to date helps maintain legal compliance and makes it easier for your company to carry out essential business operations.

2. Log In to ACRA’s BizFile+ Portal

ACRA provides an online platform called BizFile+, which you will use to update your company information. Here’s how to get started:

• Step 1: Go to the BizFile+ Portal.
• Step 2: Log in using your SingPass (for individuals) or CorpPass (for company representatives). If you don’t have a SingPass or CorpPass, you will need to register first.

Once you’re logged in, you will have access to the various options for updating your company details.

3. Select the Type of Update

Once logged in to BizFile+, you will need to choose the specific update you want to make. Depending on your changes, you’ll select one of the following:

• Change of Registered Office Address: If you’ve moved, update your business’s registered address.
• Change of Directors or Officers: If there’s a change in leadership or key personnel, update your records accordingly.
• Change of Shareholders: If you’ve had a change in ownership, you’ll need to update the shareholder register.
• Change of Company Name: If you’ve rebranded, updating your company name with ACRA is necessary.

For each option, follow the prompts to provide the required details.

4. Fill Out the Necessary Forms

For each update, ACRA will prompt you to fill out specific forms, depending on the type of change. Here’s a general guide for what you may need to complete:

• Registered Office Address: Provide the new address and confirm the validity of the new location.
• Director and Officer Changes: For new directors, you’ll need to provide their details, including the date of appointment or resignation.
• Shareholder Changes: For changes in shareholding, you’ll be asked to provide the new shareholder details, including the number of shares held.
• Company Name: If changing your company name, submit the new name and any necessary documents, such as approval from shareholders.

If you’re using ccMonet, the platform can help you track these changes in real time and generate accurate financial documents that may be required as part of the update process.

5. Pay the Relevant Fees

Most updates to company information come with a small fee. For example:

• Change of Registered Office Address: Typically free, but if it requires documents or extra processing, there may be a fee.
• Director Changes: There is a standard fee for each director or officer change.
• Company Name Change: A name change involves a fee for processing the new registration and issuing the new business profile.

These fees can be paid directly through the BizFile+ portal using your preferred payment method.

6. Submit the Update

After completing the required forms and making the payment, review your entries to ensure everything is accurate. Once you’re confident, click Submit.

ACRA will process the update and issue a confirmation of the change. You should receive a notification once your update has been successfully processed.

7. Monitor the Update Process

After submission, you can monitor the status of your application through the BizFile+ Portal. If ACRA requires any additional information or if there are issues with your submission, you will be notified and asked to make the necessary amendments.

8. Keep Your Company Records Updated

Once ACRA processes the changes, be sure to keep your internal records updated. This includes:

• Updating your corporate documents (e.g., shareholder registers, board meeting minutes).
• Notifying other regulatory authorities (e.g., IRAS for tax purposes).
• Informing partners or clients of the change if necessary.

ccMonet can help by integrating financial records with your company updates, making it easier to track your ongoing compliance and ensuring everything is documented properly for future reference.

Simplify Your Company Information Updates with ccMonet

Updating company information with ACRA doesn’t have to be a daunting process. By following these steps and using the right tools, you can ensure that your business remains compliant and up-to-date.

ccMonet can assist you in staying organized by automating document management, providing real-time alerts for important changes, and integrating all your compliance workflows into one simple platform. Whether it’s managing financials or preparing the necessary documents for updates, ccMonet helps you stay ahead.

Start Updating Your Information Today

Ready to update your company information with ACRA and ensure your business remains compliant?
👉 Visit ccMonet today to learn how we can help streamline your compliance tasks.

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