A company profile in Singapore is a fundamental document in Singapore’s corporate landscape, serving as an official summary of a business entity registered with the Accounting and Corporate Regulatory Authority (ACRA).
This digital report contains critical, up-to-date information that confirms a company’s identity, structure, and legal standing. For entrepreneurs, investors, and business partners, understanding and utilising this profile is essential for maintaining compliance and making informed decisions.
This guide explains what an ACRA company profile includes, why it is indispensable for your business operations, and how you can obtain one. Mastering this key document is a crucial step in navigating Singapore’s transparent and pro-business environment with confidence.
Key Takeaways
- A company profile is an official report from Singapore’s business registrar, serving as a company’s formal identification and summarising its key legal and structural details.
- This document is critical for essential business activities, including opening corporate bank accounts, applying for licenses, and conducting due diligence on potential partners.
- By making key corporate information publicly accessible, the ACRA profile fosters a transparent and trustworthy business environment, which is a cornerstone of Singapore’s economy.
- Businesses must ensure the information in their ACRA profile is always current, as maintaining accuracy is a key aspect of corporate compliance and helps avoid regulatory penalties.
What is a Singapore Company Profile?
A company profile, also commonly known as a business profile, is an electronic report generated by ACRA, Singapore’s national business registrar. It provides a comprehensive snapshot of a registered entity’s particulars at a specific point in time. Think of it as a company’s official identity card, containing verified information that is publicly accessible for a nominal fee.
This document is universally recognised by government agencies, financial institutions, and commercial entities as the authoritative source for company information in Singapore. Whether you are opening a corporate bank account, applying for a loan, or conducting due diligence on a potential partner, the ACRA Company Profile is the standard document required to validate a business’s details.
Key Information in a Company Profile
The profile is structured to provide a clear and concise overview of the business. While the exact details can vary slightly depending on the business structure (e.g., sole proprietorship, private limited company), a standard profile typically includes:
- Company Name and Registration Number (UEN): The official registered name and the Unique Entity Number (UEN), which is the company’s distinct identifier.
- Business Structure: The legal form of the business, such as Private Limited Company (Pte. Ltd.), Sole Proprietorship, or Limited Liability Partnership (LLP).
- Status: The current operational status of the company (e.g., Live, Struck Off, In Liquidation).
- Incorporation Date: The date the company was officially registered with ACRA.
- Principal Activities: A description of the main business activities the company is engaged in, often accompanied by Singapore Standard Industrial Classification (SSIC) codes.
- Registered Office Address: The official legal address of the company in Singapore.
- Capital Details: Information on the company’s issued and paid-up share capital, including the number of shares and their currency
- Shareholder Information: Details of the shareholders, including their names, addresses, and the number of shares they hold.
- Director and Officer Information: A list of the company’s directors, company secretary, and other key officers, including their names and residential addresses.
- Compliance Records: A summary of when the company last filed its Annual Return and the date of its last Annual General Meeting (AGM).
Why is a Company Profile Important?
The company profile is more than just an administrative document; it is a critical tool for transparency, compliance, and strategic business operations. Its importance can be seen across various functions.
1. Fulfilling Statutory and Regulatory Requirements
Many official processes in Singapore require the submission of a recent company profile. Banks mandate it for opening corporate accounts, government agencies require it for license applications, and financial institutions need it for loan assessments. Having an up-to-date profile ensures you can meet these requirements without delay.
2. Conducting Due Diligence
Before entering into any significant business relationship, conducting due diligence is a vital risk management practice. A company profile allows you to verify the legitimacy of potential partners, customers, or suppliers. You can confirm their registration status, identify key stakeholders, and assess their compliance history, helping you avoid fraudulent entities and mitigate business risks.
3. Maintaining Corporate Transparency
The public availability of your company profile fosters a transparent and trustworthy business environment. It allows stakeholders, including investors and creditors, to access reliable information about a company’s structure and governance. This transparency builds confidence and is a hallmark of Singapore’s reputable corporate ecosystem.
4. Supporting Internal Governance
For internal purposes, the profile serves as a definitive record of the company’s official registered details. It is useful for internal audits, board meetings, and ensuring that all company records are accurate and aligned with the information lodged with ACRA. Any discrepancies can be quickly identified and rectified.
How to Obtain a Company Profile
ACRA has made the process of obtaining a company profile simple and efficient through its online portal, BizFile+. You can purchase a profile for any registered entity in Singapore, including your own. It is also given free to all newly incorporated or registered entities, as well as businesses that successfully renew their business registration or file their annual returns.
Here are the steps to follow:
- Visit the BizFile+ Portal: Navigate to the official ACRA BizFile+ website.
- Access the e-Services: Under the “Buy Information” section, you will find the option to purchase a “Business Profile.”
- Search for the Company: You can search for the desired company using its registered name or UEN.
- Add to Cart and Make Payment: Once you have found the correct entity, add the profile to your cart. The fee is S$5.50 and is payable via credit card or other accepted payment methods.
- Download the Profile: After successful payment, a link to download the PDF report will be sent to your email address. The link is usually valid for a few days, so it is advisable to download and save the document promptly.
How Can InCorp Help?
While purchasing a company profile is straightforward, ensuring its contents are consistently accurate and compliant requires diligent corporate secretarial work. Any changes to your company’s particulars, such as a new director, a change of address, or an update in share capital, must be filed with ACRA within the stipulated deadlines.
Failure to maintain an accurate profile can lead to compliance penalties and create issues with third parties who rely on this official information. This is where a professional corporate services provider becomes invaluable.
Our expert team can help you:
- Manage All ACRA Filings: We handle all necessary updates to your company profile, ensuring every change is filed correctly and on time.
- Ensure Ongoing Compliance: We monitor your company’s compliance status, providing timely reminders for Annual Returns and AGMs to keep your records in good standing.
- Provide Strategic Advice: We offer guidance on corporate governance best practices to ensure your company’s structure remains optimised and compliant.
By entrusting your corporate compliance to us, you can focus on your core business activities with the assurance that your official records are always accurate and professionally managed.
Get Your Company Profile With Ease
Your company profile is an essential document that underpins corporate transparency and compliance in Singapore. It provides a verified, comprehensive summary of a business’s legal and structural details, making it indispensable for everything from opening a bank account to conducting due diligence.
While obtaining a profile is simple, maintaining its accuracy requires proactive corporate governance. Partnering with a reliable corporate services firm ensures your business remains compliant, allowing you to operate with confidence and credibility.
Contact us today to learn how our expert corporate secretarial services can help you manage your ACRA compliance seamlessly and effectively.
FAQs about Singapore Company Profile
How to download a business profile from ACRA?
- Visit the BizFile+ portal, log in, access e-services, make payment and download the profile.
Where can I find a company profile template?
- You can find it on ACRA’s website.
How often do I need to update my company profile?
- Your company profile should be updated whenever there is a change in your company’s registered details. Beyond specific changes, the profile is also updated when you file your AR with ACRA. Maintaining an accurate and current profile is a critical aspect of ongoing corporate compliance. Professional corporate secretarial services can help manage these obligations to ensure your records are always accurate.
Find out how we can help you beyond your company profile!
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