18 January 2025
Editor: ET
In Singapore, registering a charge is a key compliance requirement under the Companies Act, overseen by the Accounting and Corporate Regulatory Authority (ACRA). A charge must be lodged promptly to protect creditors’ rights and ensure enforceability in legal matters. Here’s a guide on the requirements and procedures for registering a charge with ACRA.
Further Reading: The Importance of Corporate Governance for SMEs in Singapore
When to Register a Charge
A company must register a charge within 30 days of its creation. Failure to do so may render the charge void against a liquidator or other creditors, leaving the company exposed to potential financial and legal risks.
How to Register a Charge with ACRA
1. Engage a Registered Filing AgentA company can engage the services of a registered filing agent such as:
Law firms
Accounting firms
Corporate secretarial firms
These professionals will handle the submission process on the company’s behalf, ensuring accuracy and compliance with ACRA regulations.
2. Filing by Company OfficersCompany officers, such as corporate secretaries, may directly file the charge via ACRA’s BizFile+ portal.
3. Filing by Company DirectorsAlternatively, the company director can also submit the filing, provided they are familiar with the process and requirements.
Steps for Filing a Charge
Prepare Necessary DocumentationGather all relevant details, including the nature of the charge, assets involved, and supporting documents.
Log in to BizFile+Access ACRA’s online portal and navigate to the charge registration section.
Submit the ApplicationComplete the form with accurate information and upload the required documents.
Pay the Filing FeeEnsure the filing fee is paid to confirm the submission.
Receive ConfirmationOnce the application is processed, ACRA will provide a confirmation of registration.
Why Proper Registration Matters
Registering a charge safeguards the interests of both the company and its creditors. It ensures that the charge is enforceable in the event of insolvency and provides a clear record for stakeholders.
How Expede Tech Can Help
At Expede Tech Pte. Ltd., we specialize in corporate secretarial services, including charge registration. Our experienced team ensures seamless compliance with ACRA’s requirements, saving your business time and effort while mitigating risks.
Further Reading: Who Must Register a Charge: A Guide for Singapore Companies
Registering a charge is a legal obligation for all Singapore companies. By adhering to ACRA’s regulations and engaging professional support, businesses can protect their financial interests and maintain a reputation for compliance. Act promptly to meet the 30-day deadline and secure your company’s future.
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