From BizFile to BizFile+! What is the difference?
From 3 January, 2016 the clients of the Accounting and Corporate Regulatory Authority of Singapore (ACRA) are expected to meet new requirements for registration of private companies which comply with the conditions of legislative changes in amendment to the Corporate Act of 2014.
Thus, in December, 2015 ACRA announced update of BizFile – its business informational portal of online applications.
As a result, all the services of BizFile were unavailable from 26 December, 2015 to 2 January, 2016. The portal is active from 3 January, 2016 and all the transactions which were incomplete until 26 December can be applied again after start of the updated BizFile+.
Considering this inconvenience, ACRA extended the period of submitting definite documents without imposing any penalties in order to eliminate paper issues.
It also concerned provision of annual reports, annual declarations and other registration types with the following deadlines: 26 December, 2015 and 2 January, 2016.
The changes of BizFile+ include:
- Update of information about shareholders created to facilitate the maintenance of EROM of private companies performed by ACRA. Now private companies get an opportunity to update EROM without any payment for this option.
- Submission of CEO appointment to ACRA register. The companies with CEOs appointed before 3 January, 2016 that have information updated from 3 January, 2016 to 30 June, 2016, will not suffer from undue registration.
The designers report that the updated BizFile+ has a more handy and clear client interface. The new functions include tunable panels for every user, improved processes and mobile options created to perform definite transactions on the move.
Contact the specialists of OLIESERVE and we are happy to provide you with all the necessary information about the updated BizFile+ and registration of a company in Singapore. Hurry up to use our offers for successful business performance!