Accounting and Corporate Regulatory Authority (ACRA) is a national business regulator, public accountants trading, and corporate service provider in Singapore. It was created to make business operations simpler and easier in Singapore.
BizFile is ACRA’s online directory for business paperwork in Singapore. It’s a tool to upload, reserve, and retrieve crucial data of companies registered in Singapore. Businesses use it as an online platform to submit due filings and carry out all important tasks.
You need to register your company to start business in Singapore. For that, you need to log in to BizFile. The local residents need SingPass (Singapore Personal Access Password) as a digital signature to verify their identity while foreigners need corporate service providers on their behalf to access BizFile records.
You need CorpPass once your business is set up. It is a digital system for online business transactions. CorpPass is similar to BizFile as it’s only available to permanent residents, Singapore citizens, and selective working pass holders.
Main Features Of Bizfile
Bizfile offers you the following characteristic features:
- Maintains online business transactions
- Enables to explore online
- Online inquiries about transactions status
- Contains user-friendly interface with different means of payment
- Emails and messages notification for successful transactions
Tasks You Can Perform With Acra Bizfile
These are the common task you can perform with BizFile for the Singapore based company:
- Online company registration and cessation
- Submission of all due filings
- Inform ACRA about the changes to your business structure and address
- File annual returns with ACRA
- Submit the change in particulars of firm directors, members, controllers, and shareholders.
- Search and access Unique Identification Number (UEN) central directory.
- Interact with key organizations of Singapore, for instance; the Inland Revenue Authority of Singapore (IRAS).
Some Of The Benefits You Can Gain From Acra Bizfile
- High chance of acceptance by regulatory authorities
- Superior managerial performance
- Great convenience to business
- Better compliance with regulatory requirements
- Greater accuracy of data
- Cost-effective
Considering all these benefits and tasks you can carry out with ACRA BizFile, you can start business in Singapore from anywhere in the world. You just need to work with a Corporate Service Provider. Also, the flexibility and security of the bizfile make it easy for you to retrieve the most essential information from the system in need. All the online services from online payments, document arrangements workflow, and reporting system can be operated via BizFile.
