While your business is registered and operating in Singapore, it is in your best interest to keep your ACRA business profile updated at all times. And this doesn’t come as a surprise to many considering ACRA BizFile contains information touching on your business such as the details of directors and members, the share capital of your company, ongoing business activities, and many more such details.
If you think this is all that’s destined to come your way when leveraging this platform, then you might be in for a rude shock. After all, authorities responsible for regulating your business activities and reviewing your transactions can do so without encountering any issues whatsoever. That’s why keeping your information updated at all times is the perfect way to conduct business in Singapore.
Before you request for ACRA financial statements and use it to your advantage, it is always better to know what it entails. Well, ACRA is known as the Accounting and Corporate Regulatory Authority that acts as the regulatory authority of companies and public accounts in Singapore. They are tasked with the main responsibility of registering new businesses, monitoring and regulating ongoing businesses, and allowing for proper closure of companies that cease to exist.
BizFile+, on the other hand, is a system through which any new business or company that wants to be incorporated in Singapore is registered with ACRA. Each company is assigned a distinct identity called UEN (Unique Entity Number). Thanks to this portal, companies can submit documents, requests and applications, also retrieve information about other businesses.
Furthermore, this platform ensures its cost-efficient, user-friendly, and flexible for the public to use. No wonder it should be the go-to platform whenever you want to access vital information about business and companies. The good news is you don’t have to push yourself to the limits simply because you want to perform ACRA BizFile search.
Final Thoughts
It is without a doubt that ACRA BizFile is a smart, efficient, and cost-effective platform for the registration, functioning and disclosure of any business or company in Singapore. You can deem it as a platform that removes unnecessary paperwork, not forgetting lowering the risk of breach and fraud in companies.
That explains why taking care of your BizFile will always play a vital and beneficial role in the proper conduct of your company if it is currently operating in Singapore.
