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In Singapore, any company registered with the Accounting and Corporate Regulatory Authority (ACRA) is required to maintain updated records. Changes in company information must be communicated to the Registrar through ACRA’s Bizfile system. This article will explore business registration fee in Singapore and the circumstances under which changes to company information can incur fees and those where no additional fees are required.
Changes that do not incur business registration fee in Singapore
Let’s begin by examining the types of changes that do not require any additional fees. Companies in Singapore are required to notify ACRA of any updates to their records, but many of these updates can be made without a cost. Below, we will discuss various types of changes and the relevant details needed for each update.
Change in company information
Updating key company information such as the company’s name, registered office address, business activities, or the appointment/cessation of officers and auditors is a straightforward process that can be done through ACRA’s Bizfile system. This service typically takes between 4 and 15 minutes to complete online. However, the review process may take 14 to 60 days.
Requirements for different changes:
Change of company name: You will need the proposed new name, and if applicable, the transaction number on application for S29, and any approval letters from MCCY/Sector Administrators on charity status.
Change in business activities: Provide the new Singapore Standard Industrial Classification (SSIC) code and the date when the change occurred.
Change of registered address: Include the new address and the date of the change.
Add/Withdraw of officer: Details such as identification type, identification number, contact information, and the date of appointment or withdrawal are required.
Important notes:
For officers who are Foreign Identification Number (FIN) holders, prior consent must be obtained from the relevant authorities such as the Ministry of Manpower (MOM) or Immigration & Checkpoints Authority (ICA).
Endorsement is required by a newly appointed director/agent/secretary, if filed by an existing director/secretary or agent on behalf of the company.
If the newly appointed officer is a passport holder or a foreigner, please engage a Corporate Service Provider to file for changes.
A change in business registration fee in Singapore may occur when updating certain company details
Change in personal particulars of company officers
This change involves updating officer information such as names, identification types and numbers, nationality, residential or alternate addresses, and contact details. The entire process is quite simple and can be completed within 3 to 5 minutes. The changes will be reflected immediately without incurring any business registration fee in Singapore.
Required information:
Unique Entity Number (UEN)
Officer’s name, identification type and number, nationality, and contact details.
Important notes:
When registering an alternate address, the same address will automatically apply to all entities the officer is associated with, reducing the need for multiple filings.
The maximum file size for documents is 5MB, and the acceptable file format is PDF.
Change in shareholder information
Shareholder details such as name, identification type and number, nationality, residential address, and contact details can be updated via the Bizfile portal. The system updates these changes immediately after the successful submission of the required documents.
Required information:
UEN
Shareholder’s name, identification type and number, nationality, and contact details.
Filing a notice of resolution
A company may need to file various resolutions as required under the Companies Act. This process takes only a few minutes to complete. This transaction does not require any payment of business registration fees in Singapore.
Required information:
Copy of the resolution
Copy of constitution (if applicable)
Copy of Court order (if applicable)
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Companies should be aware of any change in fee to avoid unexpected costs
Filing copy of minutes by a representative of holding company
Representatives of a holding company can file meeting minutes through Bizfile. This e-service only takes about 2 minutes to complete, with records updated immediately upon submission.
Required information:
UEN
Date of meeting and signing of minutes
A copy of the minutes
Filing a statutory report for a public company
Public companies are required to file statutory reports with ACRA. The report is updated immediately upon successful filing. This transaction is also exempt from any business registration fee in Singapore.
Required information:
UEN
Statutory report and, if applicable, the auditor’s report.
Notice to member on giving financial assistance
This filing allows companies to lodge notices related to financial assistance, as required by the Companies Act. It takes about 2 minutes to complete. Once the transaction is successfully lodged, the records will be updated immediately.
Required information:
UEN
For S76(9A): Copy of Director's Solvency Statement, and Copy of Notice
For S76(9B): Copy of Member's resolution, and Copy of Director's Solvency Statement
For S76(10)(E): Copy of Notice, and Copy of Statement
Application for minister’s consent to alter the company constitution
If a company has obtained prior consent to omit “Limited” or “Berhad” from its name, it may need to apply for the Minister’s consent to amend the constitution. The application typically takes between 15 and 30 minutes and is processed within 5 to 20 working days.
Required information:
Details of the company’s constitution
Supporting documents (if required)
Application for extension of time under S78I
This filing allows companies to apply for an extension of time to issue a notice of reduction. The process takes about 2 minutes, and the information is updated immediately after submission. It does not involve any additional business registration fee in Singapore.
Required information:
UEN
Application for revocation of Public Accounting Corporation (PAC)
This application is for the revocation of a Public Accounting Corporation. It takes about 10 minutes to complete and is processed immediately upon submission.
Required information:
UEN of the PAC
New company name and business activity (if the entity will continue as a non-public accounting company).
Recent updates may or may not led to a change in fee in Singapore
Changes that incur business registration fee in Singapore
While most of the changes discussed above are free of charge, certain types of updates do incur fees. Let’s explore those below:
Conversion of company type
Companies may apply to convert their business entity type (e.g., from a Private Company Limited by Shares to a Public Company Limited by Shares). This application costs S$40 and takes about 5 minutes to complete to apply through Bizfile’s e-Service.
Required information:
Special resolution or court order (if applicable)
UEN
Registration of amalgamation
Amalgamation is the process of merging two or more companies. The fees for this filing range from S$400 to S$700 depending on the type of amalgamation (short-form for wholly owned subsidiaries, or long-form for unrelated companies). This application takes between 10 to 20 working days to process. FIN holders are advised to seek consent from the relevant pass issuing authority (e.g. MOM/ICA) before registering or taking on an appointment (e.g. director, secretary) in an entity.
Required information:
UEN of amalgamating companies
Intended date of Amalgamation
Documents required under S215E of Companies Act
Share capital information
List of officers and shareholders after amalgamation
Registered office address
Copy of Constitution
Application of the Companies Act - Omission of the word "Limited" or "Berhad"
Companies can apply to omit "Limited" or "Berhad" from their names for a fee of S$200. The application process takes about 15 minutes, and the review process can take up to two months. Please note that Section 29A of the Companies Act allows charities to omit 'Limited' or 'Berhad' from their names. Proposed companies who wish to register themselves as charities are advised to incorporate themselves with the word 'Limited' or 'Berhad' before approaching the Commissioner of Charities.
Required information:
Completed form provided on ACRA website
Constitution (attachment); proposed companies, please attach the draft Constitution
Email address of lodger for notification of outcome
Application of the Companies Act - Relief from requirements as to form and content of the Financial Statements and Directors' Statement
Companies can apply for relief from the form and content requirements of financial statements and directors' statements. This change, while less common, still requires the payment of business registration fee in Singapore. The process takes about 15 minutes, and a fee of S$200 is required. Applications can take up to one month to be processed.
Required information:
Email address of lodger for notification of outcome
Financial year-end date
Completed form provided on ACRA website.
Letter of consent by shareholders (if the company has more than 1 shareholder).
Check if there’s a change in business registration fee in Singapore before proceeding with your application
Application under Section 201(12) of the Companies Act - Exemption from compliance with the accounting standards
This application costs S$200 and allows a company to seek exemption from certain accounting standards. It takes about one month for ACRA to process.
Required information:
Completed form provided on ACRA website.
Financial year-end date
Email address of lodger for notification of outcome
By understanding business registration fee in Singapore and the differences between free and fee-based services, businesses can better plan for necessary updates and avoid potential penalties for late filings. Let G2B be your trusted partner, guiding you through every stage of the Incorporation process and annual compliance in Singapore with reliability and dedication. Contact G2B today to achieve your goal of expanding your business to Singapore!
