ACRA is Singapore’s national regulator of business entities, public accountants, and corporate service providers. It administers business registration, enforces corporate laws and accounting standards, and runs BizFile+, the portal where you register entities, file annual returns, and update company details.

ACRA

Table of contents

  • What is ACRA?

  • Who must register with ACRA? (and the exception)

  • Which business structure should I choose?

  • What is BizFile+ and what can I do there?

  • What must I do after incorporation?

  • Do I qualify for audit exemption as a small company?

  • Why does the ACRA Business Profile matter?

  • Compliance & transparency: what’s public?

  • Step-by-step: How to register on BizFile+

  • Quick checklist for business owners

  • FAQs

 

What is ACRA?

ACRA (Accounting and Corporate Regulatory Authority) is the statutory board under Singapore’s Ministry of Finance. It regulates business entities and public accountants, promotes good governance, and ensures compliance with accounting and corporate reporting requirements through BizFile+.

Who must register with ACRA?

If you’re running a for-profit business continuously in Singapore, you must register with ACRA. This includes:

  • Sole proprietorships

  • Partnerships

  • Limited Liability Partnerships (LLP)

  • Private Limited Companies (Pte Ltd)

Exception: If you operate only under your full legal name (NRIC/FIN) with no additional words, registration isn’t required. The moment you add descriptors (e.g., “Tan Mei Ling Boutique”), you must register.

Which business structure should I choose?

Pick the structure that fits your risk, tax, and growth goals.

Structure Liability Tax/Compliance Best for
Sole Proprietorship The owner is personally liable Simplest, lowest compliance Freelancers, micro-biz
Partnership Partners jointly liable Simple, shared obligations Small teams, services
LLP Limited liability for partners Flexible, mid-level compliance Professionals, agencies
Private Limited (Pte Ltd) Separate legal entity; limited liability Most credibility, fundraising-friendly Growth-oriented SMEs & startups

What is BizFile+ and what can I do there?

BizFile+ (launched 2016, revamped 2024) is ACRA’s online portal to:

  • Reserve/register business names and entities

  • File annual returns & upload financials

  • Update officers, shareholding, and addresses

  • Buy official Business Profiles

  • Receive compliance reminders

Almost all filings are completed online—no physical paperwork is required.

What must I do after incorporation?

Within the first weeks/months:

  1. Appoint a company secretary (within 6 months).

  2. Have at least one locally resident director (e.g., Singapore Citizen/PR, or eligible pass holder ordinarily resident in Singapore).

  3. Maintain a registered local address accessible during office hours.

  4. Select SSIC code(s) matching your business activities.

  5. Track annual obligations (AGM/AR, if applicable) via BizFile+ reminders.

Do I qualify for audit exemption as a small company?

You may be exempt if you meet at least 2 of 3 criteria for 2 consecutive financial years:

  • Revenue ≤ S$10 million

  • Total assets ≤ S$10 million

  • ≤ 50 employees

This can reduce compliance costs and admin load.

Why does the ACRA Business Profile matter?

Your Business Profile is an official electronic record of your company’s particulars (UEN, officers, activities, etc.). You’ll often need it for:

  • Opening corporate bank accounts

  • Signing commercial contracts

  • Applying for government grants

It boosts credibility with banks, partners, and investors.

Compliance & transparency: what’s public?

Answer: ACRA is the central repository for corporate information. Certain filings are publicly accessible (often for a small fee). While ACRA is exempt from the PDPA, it adheres to strict government data policies for accuracy and security, promoting market transparency and accountability.

Step-by-step: How to register on BizFile+ (Answer-first HowTo)

Short version (for snippets):

  1. Pick a structure; 2) Reserve a name; 3) Prepare officers/addresses/SSIC; 4) File incorporation on BizFile+; 5) Pay fees; 6) Receive UEN; 7) Download Business Profile.

Expanded steps:

  1. Decide your structure (Sole Prop, Partnership, LLP, or Pte Ltd).

  2. Check and reserve your business name on BizFile+.

  3. Prepare details: officers, shareholders, registered address, SSIC codes, share capital (for Pte Ltd).

  4. Submit incorporation via BizFile+ and pay the government fees.

  5. Obtain your UEN (Unique Entity Number) upon approval.

  6. Generate your Business Profile for banking and contracts.

  7. Set post-incorporation basics: company secretary, local director, statutory registers, and annual compliance calendar.

Quick checklist for business owners

  • Choose a business structure

  • Reserve name on BizFile+

  • Register entity & get UEN

  • Appoint a local director and a company secretary

  • Secure registered address

  • Select SSIC codes

  • File annual returns and updates in BizFile+

  • Maintain Business Profile

  • Review audit exemption status annually

FAQs

1) Is ACRA the same as IRAS?
No. ACRA regulates business entities and filings; IRAS handles taxes. They are separate agencies.

2) Can a foreigner own 100% of a Singapore company?
Yes. Foreigners can own all the shares. You still need at least one locally resident director.

3) How long does incorporation take?
If documents are in order and no extra reviews are needed, approval can be very fast (often the same day).

4) Do I need a company secretary?
Yes—appoint one within 6 months of incorporation (for companies).

5) What is a UEN?
Your Unique Entity Number, the ID used across government and banking systems.

6) Where do I file annual returns?
On BizFile+. Keep an annual compliance calendar and use ACRA reminders.