ACRA compliance

ACRA COMPLIANCE

ACRA compliance refers to the requirements set by the Accounting and Corporate Regulatory Authority (ACRA) of Singapore for companies and business entities. ACRA is the national regulator of business entities, public accountants, and corporate service providers in Singapore.

1. Annual Return Filing

  • Who: All Singapore-incorporated companies.

  • When: Within 7 months after the end of the financial year.

  • How: File via BizFile+, ACRA’s online platform.

  • Includes:

    • Company’s financial statements (if applicable).

    • Shareholder details and company officers.

2. Holding Annual General Meeting (AGM)

  • Private Companies: Can be exempt from holding an AGM if financial statements are sent to members within 5 months of the FYE and certain conditions are met.

  • Public Companies: Must hold AGM within 4 months after FYE.

3. Financial Statements

  • Format: Must be prepared according to Singapore Financial Reporting Standards (SFRS).

  • Audit Requirements:

    • Small companies (meeting 2 of 3 criteria: total revenue ≤ S$10M, total assets ≤ S$10M, ≤50 employees) may be exempt from audit.

4. Updating Company Information

Companies must update ACRA within 14 days of any changes to:

  • Company officers (directors, secretaries).

  • Registered address.

  • Share capital or shareholding.

  • Business activities.

5. Corporate Secretary

  • Every company must appoint a qualified corporate secretary within 6 months of incorporation.