Corporate Advisory

Updating Registered Office Address

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You just changed your business registered address, what should you do next?

Keep quiet? Don’t bother? Think twice!

I was just talking with a prospect client this week, who changed his registered office address last month, but never updated ACRA!

This will attract Penalty !

Let me elaborate …

1. Requirement by Law

The law requires all business entities that are registered with ACRA to update their registered office addresses through ACRA’s filing system.

The updates must be made within 14 days of the change in address, except for foreign companies which have 30 days to do so.

 

2. Penalty for non-compliance

The penalty for late filing is up to $350.

In addition, if a company fails to update its registered office address, the company and its directors can be prosecuted and be liable on conviction to a fine of up to $5,000 and a penalty for each day of default after conviction of the offence.

Furthermore, if a business entity is found to have deliberately not updated its address, or used a false address to avoid contact with creditors or regulators, ACRA will not hesitate to prosecute the business entity and its directors or owners in court.

Under the various ACRA-administered Acts, it is an offence to provide false information to ACRA. For instance, an offender is liable on conviction to a fine of up to $50,000 or to imprisonment of up to 2 years, or to both under the Companies Act.

Hope above information helps.

Do not take this matter lightly.

If you need help, feel free to contact us at :

(O) +65 63851011

(M) +65 90880669

(E) [email protected]

www.corporatebackoffice.com.sg

Written by Kelvin Loh