In July 2012, during the WTO or World Trade Organisation Trade Policy Review, the WTO Secretariat said Singapore is one of the world’s most favourable countries to conduct business. Its open trade policies and very well-organised bureaucracy are all good news for businessmen who want to find their position in the Singapore market. At the same time, it is a valuable avenue for bigger companies who want to start regional operations in the city state.
Proof of this effective and business-friendly bureaucracy is the abundance of easy-to-use and accessible government tools, which make good use of technology to enable users from anywhere in the country and the world to access information, handle business requirements, as well as make payments for singapore company registration.
One of the forerunners is the Accounting and Corporate Regulatory Authority (ACRA), the agency in charge of company registration Singapore. Foremost of ACRA’s services is the BizFile, an online submission tool that allows users to submit their requirements for beginning any kind of business in Singapore, from a single proprietorship to a company. The BizFile also allows registered businesses to pay registration fees and all other dues online, removing the need for personal appearances and finally falling in line to comply with financial deadlines.
There is also the iShop@ACRA tool, an online platform where businesses could pay for critical information on registered businesses. Still a whole new product, the Corporate Compliance and Financial Profile (CCFP), provides access to financial information of businesses registered in Singapore. Besides giving companies a financial map of their competitors, the CCFP also gives each company an overview of its compliance of financial obligations.
On top of all these, ACRA has also provided an iOS application of the Bizfile, bringing its basic services to iPhone users who could now retrieve information, administer, and make transactions even while in transit. It has also produced several information brochures with illustrations and step-by-step explanations accessible on its website. These could serve as useful educational tools for company staff, orienting them on the diverse processes of running a business in Singapore. ACRA has also created a Twitter account through which it posts announcements and news articles which are posted on its website.
Author: Cindy MillerThis author has published 3 articles so far.