22 February 2025
Editor: ET
Keeping shareholder information up to date is essential for businesses in Singapore to maintain compliance with the Accounting and Corporate Regulatory Authority (ACRA).
Further Reading: Why Outsourcing Accounting is Key for SMEs in 2025
Any changes to shareholder details must be promptly updated in BizFile+, ensuring accurate records and transparency in corporate governance.
1. How to Update Shareholder Information
Companies can update shareholder particulars through BizFile+ by submitting the relevant transactions:
Adding a new shareholder: File the "Update Shares Information" transaction.
Updating existing shareholder details: File the "Update Shareholder Information" transaction.
2. Shareholder Particulars That Must Be Updated
The following details can be updated through BizFile+:
✔ Name (Deed poll must be attached)
✔ Identification type and number
✔ Nationality
✔ Residential address
✔ Landline/Fixed line number
✔ Mobile number
✔ Email address
✔ Occupation
✔ Cessation as a shareholder
Note: There is no fee for filing these updates in BizFile+. However, late updates may result in compliance penalties.
3. Exemptions for Singapore Citizens and Permanent Residents
Singapore Citizens and Permanent Residents (PRs) do not need to manually update:
Name
Nationality
Identification type and number
Residential address
This information is automatically retrieved from the Immigration and Checkpoints Authority of Singapore (ICA). To make changes, shareholders must notify ICA directly.
4. Why Keeping Shareholder Records Updated Matters
Ensures compliance with ACRA regulations
Maintains corporate transparency
Prevents legal and financial disputes
Keeps an accurate record of ownership structure
5. How Expede Tech Can Assist
At Expede Tech Pte. Ltd., we help businesses in Singapore seamlessly manage shareholder updates and corporate compliance. Our services include:
✔ Filing updates with ACRA via BizFile+
✔ Advisory on shareholder changes and compliance
✔ Assistance with corporate secretarial matters
Further Reading: Step-by-Step Guide to Incorporating Your Business in Singapore
Timely updates of shareholder information in BizFile+ are critical to staying compliant with Singapore’s corporate regulations. Whether you’re adding new shareholders or updating existing details, partnering with Expede Techensures smooth and error-free submissions. Contact us today to simplify your compliance needs.
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