Congratulations! Your registration has been approved by the Accounting & Corporate Regulatory Authority (ACRA). Now all you have to do is observe these rules. If you break these rules, you can be fined. In some cases, you might even face imprisonment.
Rules For Business Firms
Rules Specifically For Limited Liability Partnerships
Rules For Companies
Rules For Business Firms
Business firms are sole-proprietorships and partnerships.
- Business must be carried out under the registered business name. You cannot use any other name.
- Print your registration number on all letterheads, invoices, bills or other documents used for the purposes of the business.
- Renew your business registration on time using BizFile.
- Notify ACRA immediately if there is a change of business particulars, such as a change of address, business activity or partners using BizFile. The fees and notification deadlines can be found on ACRA's website.
- Notify ACRA the moment you decide to end your business using BizFile.
- Keep your Medisave contributions up-to-date on the Central Provident Fund (CPF) Board's website for the self-employed.
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Rules Specifically For Limited Liability Partnerships
- The manager must make an Annual Declaration to ACRA stating whether the business is able or unable to pay its debts as it becomes due in the normal course of business.
- The first Annual Declaration must be made within 15 months of the date of registration.
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Rules For Companies
- Appoint a company secretary within six months of incorporation. If the company only has one director, he/she cannot be the company secretary.
- Your registered office must be open and accessible to the public for not less than three hours between 9am and 5pm on weekdays.
- Print your company registration number on all letterheads, invoices, statements of accounts, official notices and publications. Instructions on where and when to print the registration number can be found in ACRA’s practice direction.
- Notify ACRA within the prescribed time if there is a change of company particulars, such as a change of address, business activity or directors using BizFile. View a list of common changes or print a self-help brochure.
- The first Annual General Meeting (AGM) of your company must be held within 18 months of the date of incorporation.
- You must appoint an auditor within three months of the date of incorporation. Your annual accounts must be audited and filed with ACRA within one month of the AGM. Get a list of what and when to file on ACRA's website.
- Companies with less than 20 individual shareholders (Exempt Private Companies) do not need to appoint an auditor, audit their accounts or file them with ACRA if their revenue is less than S$5 million for the financial year.