Singapore companies should review their Bizfile+ records and corporate administration procedures ahead of the next phase of the Corporate and Accounting Laws (Amendment) Act 2025. In its announcement on 6 October, the Accounting and Corporate Regulatory Authority (ACRA) confirmed that the changes will take effect on 20 October 2026.
The amendments introduce additional confirmations when filing annual returns, remove certain administrative requirements and revise striking-off and restoration procedures. Public accountants and accounting firms also face changes to registration renewals and professional indemnity insurance. For companies, the immediate priority is to ensure the information behind their filings is accurate and that record-inspection arrangements remain workable.
Checking company particulars before filing
Companies filing annual returns will need to confirm the accuracy of the latest particulars supplied to ACRA for directors, chief executive officers, secretaries, auditors and relevant members. These include names, identification details, nationality, contact addresses, appointment dates, registered office addresses and shareholding information, where applicable.
The annual return eform will also ask whether any individuals perform the role of chief executive officer in the company. Companies limited by guarantee must confirm that the total membership figure last submitted through Bizfile+ is correct.
Companies and their authorised filers should review the information held in Bizfile+ and update any particulars before submitting the annual return. A useful preparation step is to reconcile those records with internal registers and recent appointment or shareholding changes, while ensuring functional CEO roles are declared.
Fewer administrative requirements
Companies will have greater flexibility over their registered office opening hours, as the requirement to keep the office open and publicly accessible for specified minimum hours on each business day will be removed.
Record-inspection duties continue. Those entitled to inspect company records must give reasonable notice, after which the company must make the records available for at least two hours on each relevant business day. Companies must also continue to notify ACRA of registered office address changes within 14 days. Businesses should therefore retain clear arrangements for receiving inspection requests and providing access.
The requirement to file a statement in lieu of prospectus in prescribed circumstances will be abolished. Public limited companies with share capital will also cease to be required to hold statutory meetings and prepare statutory reports.
Faster striking off and revised restoration rules
Striking-off and restoration procedures will be streamlined for companies, limited liability partnerships, variable capital companies and their sub-funds. For voluntary striking-off, Gazette notices may be published as early as the day the notice is sent. For Registrar-initiated striking-off, publication may take place 15 days after the letter is sent to the company.
These are earlier publication points in the process. The statutory 60-day period for public objections remains unchanged. An entity is legally dissolved or restored at the date and time the Registrar removes or restores its name on the register, with those details subsequently published in the Government Gazette.
The Court or Registrar must refuse restoration if there is reason to believe that the entity is likely to be used for an unlawful purpose or for purposes prejudicial to public peace, welfare or good order in Singapore, or where restoration would be contrary to national security or interest. Parties considering restoration should obtain independent legal advice on their application.
Changes for public accountants and accounting firms
Public accountants will be able to renew their registration for one, two or three years, replacing the annual-only renewal arrangement.
Professional indemnity insurance requirements will extend to accounting firms operating as sole proprietorships or partnerships, aligning them with public accounting corporations and accounting limited liability partnerships. The required cover is based on the highest of:
Affected firms should review existing cover against their public accountant headcount and gross income, and arrange any necessary changes with their insurer.
Preparing for 20 October
Companies can use the period before commencement to update their filing and administration procedures:
Alpadis' Singapore team supports companies with corporate secretarial services, statutory filings and ongoing company administration. We can help review company records and update administrative procedures to address the new requirements, working with companies to prepare for their next annual return. Contact our Singapore team to discuss the support your company needs.
