Register a Company in Singapore? Comprehensive Interpretation of ACRA's Business License Inquiry Guide

Thinking of registering a company in Singapore? Here’s the ultimate guide to checking company licenses via ACRA!

In recent years, with the development of globalization and the prosperity of cross-border trade, more and more businesses and individuals have turned their attention to the Southeast Asian market. Among them, Singapore, with its advantageous geographical location, stable environment, sound legal system, and open business atmosphere, has become an ideal choice for many investors. As one of the most important financial centers in the world, Singapore not only attracts the headquarters of numerous multinational corporations but also provides vast opportunities for small and medium-sized enterprises.

For companies planning to operate in Singapore, understanding and complying with local laws and regulations is crucial for successful operations. In this regard, the Accounting and Corporate Regulatory Authority ACRA plays a vital role. ACRA is the core institution responsible for regulating company registration, managing commercial registrations, and maintaining corporate transparency in Singapore. It is particularly important for companies registered in Singapore to regularly check their license status through ACRA. This article will provide you with a detailed guide on how to use ACRA for company license inquiries and offer practical advice based on recent relevant news highlights.

Why Is It Necessary to Check Company Licenses?

First, it is essential to understand the significance of checking company licenses. For already registered Singaporean companies, regularly verifying the status of their licenses can help identify potential issues in a timely manner, such as overdue updates or unpaid annual fees. When planning to collaborate with another company, checking the status of their license is also a necessary risk control measure. For example, a company without a legitimate license or permit may harbor financial risks or even fraudulent activities.

Recently, Singaporean media has reported several cases involving illegal operations, reminding us of the importance of ensuring that transaction partners possess legitimate qualifications. For instance, earlier this year, a small travel agency without proper permits was blacklisted by ACRA due to non-compliant operations. This demonstrates that even in seemingly ordinary industries, there are hidden pitfalls, which can be effectively avoided through ACRA inquiries.

How to Use ACRA to Check Company Licenses?

So, how exactly does one proceed? ACRA offers a convenient online platform called BizFile+, which serves as the main entry point for querying information about Singaporean companies. Here are the specific steps

1. Access the Official Website

Open your browser and enter the URL https//www.bizfile.gov.sg into the address bar to access the BizFile+ homepage.

2. Input the Company Name or Unique Entity Number UEN

In the search bar, input the target company's name or its unique Unified Entity Number UEN. The UEN is a unique identifier assigned by ACRA to each registered entity, similar to an ID number. If you are unsure of a company's UEN, you can perform a fuzzy search using its name.

3. View Detailed Information

The query results will display basic information about the company, including but not limited to its establishment date, address, shareholder structure, and director list. Additionally, you can view the latest annual report and financial overview of the company. Any abnormal situations, such as failure to submit annual filings on time or outstanding payments, will be reflected in the report if they exist.

4. Save Records

To facilitate future reference, you can save the queried results by taking screenshots or printing them as paper documents for archiving.

It is worth noting that starting from 2025, ACRA will further enhance data transparency by allowing the public to access more detailed company information for free. This move has received widespread praise as it significantly increases market transparency and reduces risks associated with information asymmetry.

Recent News Highlights

In recent months, ACRA has introduced a series of new policies and service optimization measures aimed at enhancing user experience and streamlining processes. For example, in June this year, ACRA announced the launch of a new digital identity authentication system for businesses, designed to make online registration and document submission easier for companies. The application of this technology not only reduces the use of paper documents but also significantly shortens approval times, making the entire process more efficient and streamlined.

In response to the increasing prevalence of cyber fraud in recent years, ACRA has emphasized the need to strengthen public education and improve people's ability to identify fake companies. For instance, ACRA has collaborated with local financial institutions to launch a campaign called Spot the Red Flags, which uses case studies to help businesses and individuals learn how to recognize suspicious signals. For example, some companies may intentionally conceal key information or provide incomplete contact details, which are warning signs to watch out for.

Professional Advice and Considerations

Although ACRA provides powerful tools, certain details should still be taken into account during actual applications. First, ensure that the entered information is accurate; otherwise, it could lead to failed searches or incorrect results. Second, it is recommended to assign this task to maintain continuous monitoring of the company's status. Lastly, in complex business environments, seeking professional advice is advisable, especially when dealing with cross-border affairs. Professionals familiar with local regulations can provide targeted guidance.

In conclusion, checking company licenses through ACRA is not only a critical component of fulfilling compliance obligations but also an essential means of safeguarding corporate health and development. Hopefully, this article will provide valuable references for your journey in Singapore!