Singapore Company Registration Registrar Plays Important Role
The Singapore Registrar plays an important role in the process of the Singapore Company Registration. Officially called the Accounting and Corporate Regulatory Authority (ACRA), the agency has many responsibilities.
The ACRA insures that reporting rules are followed. For example, a Singapore company must, 1) Hold an annual meeting within 18 months of incorporation and each year thereafter, 2) File an annual return with the Registrar, and 3) Insure all accounts presented at the annual meetings are current. The ACRA maintains the documentation proving these activities have taken place after a business goes through a Singapore Company Registration. The Registrar handles applications for new businesses too. The goal of the ACRA is to develop a reputation for quality and service. Fulfilling this mission is important for business growth.
The Registrar has the authority to grant time extensions for company annual meetings and the power to issue penalties for any company that fails to meet reporting requirements. The authority granted the ACRA is designed to support the mission which is, “To provide a responsive and trusted regulatory environment for businesses and public accountants.”
The standards set by the ACRA are necessarily high. For example, the Business Facilitation Division has established a quality control standard that states a Singapore Company Registration of a new business through direct registration must be completed within 15 minutes of full payment. In another example, renewal of a business registration is to be completed within 15 minutes of payment. There are many standards like this listed on the ACRA website and each one is customer service focused. That is admirable for a government agency. The goal is to serve customers in a timely manner and with accuracy and thoroughness. These principles of efficiency apply to all ACRA divisions too like the Client Engagement and Communications Division, the Enforcement Division, the Finance Division, the Financial Reporting Regulations Department, and the Information Resource Division.
The ACRA processes the Singapore Company Registration applications. It also advises the government on matters pertaining to business and public accountants. The Registrar works diligently to promote Singapore business growth in Singapore and in the international arena. A business interested in establishing a presence in Singapore should first contact the ACRA. The high ethical and performance standards will be noticeable from your first contact. The ACRA makes a significant contribution to the development of new business.
If you have any doubts that ACRA takes service seriously, just consider the awards it has already earned. The agency has earned certification for Singapore Quality Class and ISO 9001:2000. It also earned re-certification of People Developer and was awarded the Excellent Service Award to name just a few of the many achievements the agency is proud to claim. You can find many more on its website. These achievements are simply proof that your Singapore Company Registration will get the quality treatment it deserves.
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