There is a good chance you already know that a company's information must be submitted to the Accounting and Corporate Regulatory Authority (ACRA) by anyone who wants to register a company in Singapore. Before 2004, business owners had to visit the Registry of Companies and Businesses (RoC) and complete the formalities. However, things took a different direction when ACRA introduced BizFile, as it allows users to file, retrieve, and buy business data.

Either way, that’s not to say you should rush into initiating the ACRA BizFile search. It pays off to understand what it takes to register your company using BizFile.  To register a company in Singapore, you will first have to log in to BizFile+. For first-time registrants, the users need to use their SingPass. For those who might not know, this serves as a digital signature that verifies your identity.

Things tend to be different with Foreign individuals and companies who want to access BizFile transactions as they need to work with Corporate Service Providers who can access BizFile on their behalf. Once the company is set up, you need to register for CorpPass. This is needed for making transactions in BizFile+ for your entity.

As a business owner in Singapore, it is highly recommended that you interact with BizFile regularly. Some things you can perform using the BizFile platform include online business registration, informing ACRA about the changes in the company's hierarchy, and chance changes in the personal details of the company officers, controllers, and members.

The good news is you no longer have to go through a lot merely because you want to access ACRA financial statements. Thanks to CRIF BizInsights, you will find the latest Financial Statement submitted by Singapore companies to ACRA as part of their regulatory requirement.

Now that you have a little insight into what is expected of you, why not create your ACRA business profile! Keep in mind that ACRA's BizFile is a complete and intelligently designed portal to handle all processes of business registrations in Singapore. It makes use of a user-friendly interface. It is accessible for all business services like renewing information, making changes, purchasing information, and checking transactions directly. So, what are you waiting for before you finally leverage what this platform offers!