ACRA — Accounting and Corporate Regulatory Authority of Singapore. The government body responsible for company incorporation, regulation, and cessation. They provide legal framework for your business to comply and keep data on all enterprises in the country.
What functions does ACRA have?
- Registers all new companies in Singapore
- Provides the companies with UEN
- Administers Companies Act
- Collects data on corporate details, such as nominee directors, corporate secretaries, shareholders, etc.
What you need to know about ACRA
ACRA processes most of the applications online. Standard solutions, like checking company name or filing for company formation take less than an hour. Foreigners can’t apply on their own, so they need to employ a certified agency to represent them.
ACRA in Singapore
ACRA was founded on 1 April 2004 by the Accounting and Corporate Regulatory Act. Yearly it registers about 60,000-70,000 new enterprises.