Singapore is one of the rapidly growing economies in the world. Owning to the pace at which Singapore’s economy is scaling up, many new companies and businesses are emerging in this country.

 

While registering a company in Singapore, there are several statutory requirements that businesses have to comply with in order to incorporate a company in Singapore. You have to provide certain details to the registration authorities such as the company name, address, details of key personnel, auditors, etc. With time, you might want to do certain changes in these details like for example you might want to change the name of your company as part of a rebranding exercise, or you might shift to a new premises and want to change your registered address, or you might hire new key personnel, or auditor for your company.

 

It is important that these changes are timely updated in the records of the registration authorities i.e Accounting and Corporate Regulatory Authority (“ACRA”). All the local as well as foreign companies must compulsorily update their particulars with the ACRA. You need to update these changes by filing via BizFile using CorpPass, which has replaced SingPass for businesses transacting with ACRA as of September 2018.

 

In this article, we will look at the procedure for updating the particulars of your company and what you need to do for the same.

The following actions need to be taken when there is a change in the name, address, company officer or auditor of the local company.

  • Change of Company Name
    When there is a change in the name of a local company, an application must be submitted for the approval of the proposed new name. The change needs to be filed via BizFile transaction under the change in company name information including appointment or cessation of company officers or auditors. The company must submit the proposed new name in the application and pay a filing fee of $15.
  • Change of Registered Office Address or Office Hours
    For a change in registered office address or office hours, the local company must notify Accounting and Corporate Regulatory Authority (ACRA) within 14 days from the date of the change. It needs to be filed via BizFile transaction under the change in company information section. Additional details like appointment/cessation of company officers or auditors also needs to be submitted. The company shall submit the new address of the registered office or new office hours.
  • Appointment or Cessation of Company Officers or Auditors
    In case of appointment or cessation of company officers or auditors, the local company must notify ACRA within 14 days from the date of the change. The change needs to be filed via BizFile transaction under change in company information section. Additional details like appointment or cessation of company officers or auditors also needs to be submitted. The information relating to the particulars of auditors or directors or CEO that needs to be submitted are:

    • Name
    • Identification number
    • Residential address and alternate address, if any
    • Email address or contact number
    • Stature of the position held
    • Appointment date
    • Cessation date
  • Change in Particulars of Company Officers or Auditors
    For change in the particulars of local company officers or auditors, the local company must notify ACRA within 14 days from the date of the change. The change needs to be filed via BizFile transaction under change in personal particulars of company officers. The information relating to the particulars of auditors or directors or CEO that needs to be submitted are:

    • Name
    • Identification Number
    • Nationality
    • Residential address and alternate address, if any
    • Email address or contact number

The following actions need to be taken when there is a change in the name, address, director, authorised representative of the foreign company.

  • Change of Company Name
    When there is a change in the name of a foreign company, an application must be submitted for the approval of the proposed new name. The change needs to be filed via BizFile transaction under change in company particulars. The company must submit the proposed new name in the application.
  • Change in Registered Office Address in Place of Incorporation/Origin
    For change in registered office address in place of incorporation/origin the foreign company must notify ACRA within 14 days from the date of the change. It needs to be filed via BizFile transaction under change of company particulars (change in registered office address in place of incorporation/origin). The company must submit the new address for the registered office or office hours.
  • Appointment or Cessation of Authorised Representative or Director
    The local company must notify ACRA within 30 days from the date of change for appointment or cessation of authorized representative or director. The change needs to be filed via BizFile transaction under change in company particulars. The information relating to the particulars of auditors or directors or CEO that needs to be submitted are;

    • Name
    • Identification Number
    • Nationality
    • Residential address and alternate address, if any
    • Email address or contact number
    • Position held in the company
    • Appointment and cessation date.

 

  • Change in Particulars of Authorised Representative or Director
    When there is a change in particulars of authorized representative or director the foreign company must notify ACRA within 30 days from the date of the change. The BizFile transaction is filed under change in particulars of authorized representative or director. The information relating to the particulars of directors or foreign company authorized representative to be submitted are;

    • Name
    • Identification Number
    • Nationality
    • Residential address and alternate address, if any
    • Email address or contact number
    • Position held in the company

 

In order to check whether your company’s details have been correctly changed, you can check on BizFile online.

The above-mentioned changes can be made by the company themselves by the login into ACRA BizFile website using CorpPass or may get professional assistance to change the company name, address, directors, auditors, officers, etc.

IMC Group is a renowned name for providing services like business registration, company formation, Pte Ltd set up in Singapore, etc. Once the company starts functioning, there is often a need to change certain. To assist the company in such scenario, IMC Group provides the right advice and helps in filing the right documents to the respective authorities. All you need to do is just contact us via call or email to avail our services or know our quotes.

How can we help?

IMC Group can be your mentor and guide in assisting you to get the necessary licenses and registration for fund management company in Singapore. We can help you in identifying the ideal corporate structure which meets the needs of your investors. We can also assist you in preparing documents and forms to be submitted to MAS. Our team of experts takes care of requirements related to a company set up in Singapore and the incorporation of onshore and offshore entities in Singapore.

 

In addition to business registration and licensing services, we can also assist you in conducting preliminary market research, designing your business plan, corporate secretary services, financial services like budgeting, costing, fund management and enhancing your business growth

 

Our expertise has helped a lot of fund management companies in Singapore to get a headstart. Get yours today!

 

Contact details

IMC Advisory Pte. Ltd.
19-61, One Raffles Place – Tower 2
Singapore – 048616
Phone: +65-91269927
E-mail: rajee@intuitconsultancy.com
Website:  https://intuitconsultancy.com/sg/