Chapter 1

To Be a Leading Business Registry

To Be a Leading Business Registry

The above illustration depicts a vibrant and bustling business environment, highlighting how ACRA plays an important role in helping businesses grow and flourish. The ribbon cutting signifies the establishment of new businesses and communicates the idea of growth and opportunities.

We continually review our regulatory frameworks and processes to ensure they are robust and business-friendly. By streamlining processes and leveraging digital solutions, we seek to provide a trusted and pro-business ecosystem that helps businesses to grow and flourish.


More Free Business Data for Public Use

More Free Business Data for Public Use

As part of our Open Data initiative, ACRA provides the public with free and easy access to online business datasets

ACRA's public register of business entities in Singapore offers a wealth of business information that can be harnessed by the public and private sectors. In support of Singapore's Smart Nation initiatives, we are one of the key agencies providing data for public consumption at Data.gov.sg, the government's one-stop portal for open and free data.

More than 1.5 million records of business entities registered with ACRA have been made available for public access, through data download or API calls. Updated on a monthly basis, the free data comprises nine datasets with a total of 94 data elements, to enable researchers and developers to glean insights and develop applications for businesses.

ACRA's Open Data Initiative
            ACRA's Open Data Initiative 
Data.gov.sg
            Data.gov.sg 

More Information on Business Entities Available in BizFile+

More Information on Business Entities Available in BizFile+

In addition to displaying the registered address of an entity, the public can now click on the address to access a map view showing the exact location of the entity.

To promote corporate transparency, ACRA's BizFile+ portal offers a free entity search service for members of the public to search for information on more than 500,000 business entities registered with ACRA.

In June 2017, ACRA's online entity search service was enhanced to provide the following additional information:

  • Business activity (SSIC code)
  • Filing history of the entity
  • Validity of the registered business address
  • Map location of the registered business address 

Enhanced Directory Search  Enhanced Directory Search 
Enhanced Directory Search  Enhanced Directory Search 

Ease of Doing Business in Singapore

Ease of Doing Business in Singapore

In the "Starting a Business" category of the World Bank Survey on Doing Business, it was found that Singapore takes just two and a half days to start a business, thus placing Singapore in sixth place globally. (Source: World Bank)

In FY2017, Singapore was once again ranked second in the World Bank Doing Business report and sixth for the indicator on "Starting a Business". It takes just two and a half days to start a business in Singapore.

We continue to review our policies and streamline our business registration processes to improve the ease of doing business and keep compliance burden low. 

Doing Business 2018 Doing Business 2018 

Facilitating Transfer of Registration By Foreign Corporate Entities

Facilitating Transfer of Registration By Foreign Corporate Entities

ACRA established a new re-domiciliation framework since 11 October 2017, allowing eligible foreign corporate entities to transfer their company registration to Singapore.

To further strengthen Singapore's position as a global exchange for international commercial business, the inward re-domiciliation regime was implemented in October 2017. Foreign companies can now transfer their registration to Singapore while retaining their corporate history and branding from their original jurisdiction.

Inward Re-domiciliation Regime Inward Re-domiciliation Regime in Singapore 
Inward Re-domiciliation Regime Inward Re-domiciliation Regime to Take Effect from 11 October 2017

Business-Friendly Initiatives

Business-Friendly Initiatives

ACRA has been offering new business entities free Business Profiles upon their successful registration since June 2017. Existing entities also receive a free copy of their Business Profile after renewing their business registration, or filing their Annual Returns or Annual Declarations.

Free Business Profiles

Since June 2017, new business entities will receive a free copy of their Business Profile in electronic form upon successful registration or incorporation. Existing business entities registered with ACRA will also receive a free copy of their Business Profile after successfully renewing their business registration, or filing their Annual Returns or Annual Declarations.

Commonly used to meet banking requirements as well as other business related applications, the Business Profile helps business entities reduce their business costs. In FY2017, over 310,000 free Business Profiles were given out. This is equivalent to total savings of more than $1.6 million for businesses.

Enhancing the Business Registration Process - Workmen Injury Compensation Insurance

Enhancing the Business Registration Process - Workmen Injury Compensation Insurance

From October 2017, new and existing business owners can purchase Workmen Injury Compensation Insurance for their employees via BizFile+.

New business owners can now save time when purchasing insurance for their employees. In October 2017, a new Workmen Injury Compensation Insurance online service was introduced in the BizFile+ portal as part of our efforts to further streamline the online business registration process.

Provision of Free Business Profiles Provision of Free Business Profiles
Provision of Free Business Profiles Provision of Free Business Profiles

Sharing Best Practices with International Counterparts

Sharing Best Practices with International Counterparts

Dr Tran Thi Hong Minh, Director General of Viet Nam Agency for Business Registration (5-6 June 2017)

Dr Phirany Phissamay

Dr Phirany Phissamay, Deputy Director-General of the Accounting Department of the Ministry of Finance, Lao People's Democratic Republic (19 July 2017)

Delegation led by Mr Fazle Kabir

Delegation led by Mr Fazle Kabir, Governor of Bangladesh Bank, who visited Singapore under the auspices of the World Bank (3 August 2017)

ACRA

ACRA Chief Executive Mr Ong Khiaw Hong hosted a visit from Mr Greg Patchell, Deputy Chief Executive (Market Services) from the New Zealand Ministry of Business, Innovation & Employment and Mr Ross van der Schyff, the Registrar of Companies for New Zealand (21 November 2017)

ACRA actively participates in international corporate registry forums. In August 2017, our officers spoke at the Corporate Registers Forum (CRF) Technical Workshop held in South Africa. We shared our digitalisation plans with our global counterparts on how we would enhance our business registration and filing services to meet the changing needs of the business community and public.

ACRA represented Singapore in May 2017 at two ASEAN Task Force meetings on "Starting a Business" which seeks to enhance the ease of doing businesses in ASEAN, and facilitate cross border businesses for ASEAN member states.

ACRA also hosted foreign delegations keen to learn more about our business registration processes and regulatory framework and data sharing practices.

Visit Visit by Lao People's Democratic Republic's Ministry of Finance 
Visit Visit by Bangladesh's government delegation 
Visit Visit by New Zealand Ministry of Business, Innovation & Employment 
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