Financial Reporting Obligations

Head Office Accounts

All foreign companies, during their annual filing, are required to lodge their financial statements as well as those of their Singapore Branches with the Registrar. In relation to the lodgment of foreign companies’ financial statements

  1. if a foreign company is required by the law of its incorporation to table financial statements at an annual general meeting, and the financial statements are prepared using accounting standards similar to the Accounting Standards or are acceptable to the Registrar, the foreign company can lodge that set of financial statements with ACRA; and
  2. in any other case, the foreign companies are required to prepare and lodge their financial statements prepared in accordance with the Accounting Standards unless they had obtained approval from the Registrar under section 373(13) of the Act for relief from requirements as to audit or form and content of the financial statements and other documents. There is no exemption for waiver from filing of a foreign company’s financial statements.

More details of the relief under section s373(13) are available in Practice Direction No. 6 of 2015. (PDF, 205KB)

Singapore Branch Accounts

All Singapore Branches are required to prepare audited profit and loss account which complies with the Accounting Standards and give a true and fair view of the profit or loss arising out of their operations in Singapore, and audited statement showing their assets used in and liabilities arising out of their operations in Singapore, and lodge these documents with ACRA, unless they have obtained approval from the Registrar under:

  1. waiver from filling of the Singapore Branch accounts under section 373(12) or
  2. relief from requirements as to audit or form and content of the documents under section 373(13) 

More details of the relief under section s373(13) are available in Practice Direction No. 6 of 2015. (PDF, 205KB)

Extension of time to file annual return or hold an AGM

ACRA is prepared to grant a one-off extension of up to 2 months for a foreign company which is required to prepare Head Office financial statements under the laws of its place of incorporation or origin, but not required to table financial statements at an annual general meeting.

The authorised representative(s) of the foreign company are to make the application within 6 months and 30 days from the financial year end of the foreign company. The online form to apply for extension of time for filing of financial statements by a foreign company is available in BizFile+. The application has to be submitted before the deadline of annual filing and a fee of $200 is applicable. 

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