In July 2012, during the World Trade Organisation (WTO) Trade Policy Review, the WTO Secretariat announced that Singapore is one of the world’s most conducive countries to conduct business. Its liberal trade policies and very well-organised bureaucracy are all good tidings for businessmen who wish to find their position in the Singapore market. At the same time, it is a worthwhile avenue for larger 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 allow users from anywhere in Singapore and the world to access information, handle business requirements, and even 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 the services of ACRA is the BizFile, an online submission tool which lets users submit their requirements for starting any kind of business in Singapore, from a company to a sole proprietorship. The BizFile also lets registered businesses 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 that makes business information from registered businesses in Singapore available for purchase online. Still another product, the CCFP or Corporate Compliance and Financial Profile, gives access to financial information of Singapore-registered businesses. Apart from giving companies a financial map of their rivals, the CCFP also supplies a thorough report on every company’s compliance of financial requirements.
Aside from all these, ACRA also produced an iOS mobile application, bringing the BizFile and then its fundamental services to iPhone users who can conveniently input, retrieve, as well as manage their accounts even while in transit. ACRA has also made available several information brochures with illustrations and step-by-step guides on its website. Companies could use these as educational tools for their staff, especially in orienting them how Singapore manages its registered businesses. ACRA has also set up an account on the social networking platform Twitter where it shares announcements as well as news articles are they are loaded into the ACRA website.
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