Are you an entrepreneur or businessman considering a partnership with a Singaporean company? If yes, then the first thing you should do is check the company’s registration. Verifying a company’s registration is very important to ensure that you are working with a credible and stable company. Additionally, by verifying the company, you can avoid facing various legal problems.
By reading this article, you will learn how to check a Singaporean company’s registration using ACRA’s services. The Accounting & Corporate Regulatory Authority (ACRA) services make the company verification process easy and efficient, helping you avoid business or related risks.
Why It’s Important to Verify a Registered Company in Singapore?
To start a business partnership with any company in Singapore, checking the company’s registration is not just a formality—it is extremely important for your business. It not only reduces the risk of fraud or scams but also gives you confidence to work long-term with your partner company without facing any legal issues. Let’s highlight some key points that define the importance of company verification.
Protection from Fraud and Financial Losses
The most important reason to verify a company before starting a partnership or any business deal is this: if a company is not registered, it indicates that it may be involved in illegal activities. Doing business with such a company can lead to financial losses, legal complications, and even damage to your business reputation. After verifying with ACRA, you can not only confirm your partner company’s legitimacy but also ensure that it is not under any kind of sanctions.
Avoid Unreliable Business Partners
Unregistered companies usually have very little business experience. Moreover, they are financially unstable and have poor infrastructure. These companies often fail to fulfill business-related commitments. Working with such companies can lead to project delays or failure to meet your expectations, which can harm your reputation. By using ACRA’s services, you can thoroughly evaluate a company’s capability and financial stability, allowing you to start a reliable and trustworthy partnership.
Trust is the Foundation of a Strong Partnership
For a successful business partnership, it’s essential to build mutual trust. It becomes difficult to trust a partner who fails to meet basic legal and financial requirements. In Singapore, with the help of ACRA, you can verify not only the company’s registration but also confirm their legal formalities, legitimacy, and credibility. This allows you to build trust and confidently move forward with a strong, long-term business partnership.
Protects Your Business Reputation
For any business, its reputation is one of its most valuable assets. If you agree with a company involved in illegal or fraudulent activities, you may face legal complications along with damage to your reputation. This can severely impact the trust of your investors and customers. By verifying the company before signing any agreement, you can avoid this issue and even improve your business reputation.
What is ACRA?
The Accounting and Corporate Regulatory Authority (ACRA) is a government agency in Singapore that regulates all businesses, public accountants, and corporate service providers operating in the country.
The ACRA agency holds all essential information about registered companies in Singapore, which helps in verifying their authenticity and legitimacy. This allows you to ensure a beneficial partnership and avoid unnecessary risks.
- ACRA’s database contains the following details about companies:
- Company registration details (company name & registration date)
- Information about the company’s directors and shareholders
- Core business activities and registered business address
- Financial information that indicates the company’s health
- Company status – whether it is active or not
Tools Provided by ACRA to Verify a Business Entity in Singapore
The Accounting and Corporate Regulatory Authority (ACRA) provides some important tools to verify the registration and legitimacy of any company in Singapore. These tools help in obtaining essential information about a registered company and make the process of conducting due diligence easier. Let’s take a look at how these tools work:
Free Online Directory Search Tool
With this ACRA tool, you can access a variety of essential details about any registered business entity for free, such as:
- Confirm the company’s registered name and UEN (Unique Entity Number).
- Validate the company’s registered business address based on its current location.
- Check the current status of the company to see whether it is still active or has been closed.
- Verify the business activities for which the company was originally registered.
- Gain insight into the company’s financial health and its compliance with regulatory requirements.
Purchase a Business Profile Tool
To get a more comprehensive report containing detailed information about the company, you can purchase a Business Profile document. This document includes:
- The official date the company was registered and its working history.
- Details of the company’s issued and paid-up capital to help assess its financial health.
- Information about key individuals managing the company, such as directors, secretaries, and shareholders.
Purchase a People Profile Tool
This tool provides information about a specific individual who is linked to one or more businesses. The data includes:
- A complete list of all previous and current registered business entities they are associated with.
- The role of the individual in each of those business entities.
- The current status of each of those entities.
How To Check Company Registration In Singapore With ACRA?
Using ACRA’s services, you can check the registration and basic information of companies in Singapore by following these simple steps:
Step 1: Visit ACRA’s official website and access the online directory search platform.
Step 2: In the designated input field, enter the exact name of the business entity you want to inquire about. Then press Enter to proceed with the search process.
Step 3: If prompted for human verification, make sure to complete the CAPTCHA.
Step 4: After CAPTCHA verification, ACRA will display the basic information about the company, such as:
- Business Entity name
- UEN (Unique Entity Number)
- Business current status (active or closed)
- Principal business activities
- Registered business address
What Key Things Should You Look Out For?
To establish a strong and reliable business partnership with any company in Singapore, it’s not enough to just verify the company’s registration. Several other important aspects must be taken into account before moving forward, such as:
Current Company Status
Every registered company in Singapore is required to keep its business status updated on ACRA. While verifying a company, it’s essential to confirm that its status is listed as “live,” indicating that it is currently active and operational.
Registered Business Address
A company’s valid business address is a key factor in confirming its legitimacy. An incorrect or suspicious address is often a warning sign that the company may be involved in illegal or unethical activities.
Annual Return Filings
According to the Singapore Companies Act, every company must submit its annual return to ACRA within 30 days of holding its Annual General Meeting (AGM). Always check the date of the company’s most recent annual return filing and its financial year-end (FYE) date.
Registered Business Activities
It’s also important to investigate whether the company is involved in unrelated or questionable business activities beyond its registered scope. If a company is constantly shifting industries or fields, it’s vital to understand the reasons behind such changes before making any decisions.
Annual General Meeting (AGM)
An AGM is held once a year, during which a company discusses its current performance, financial updates, and plans with its shareholders. If a company fails to hold an AGM or does not update ACRA about it, this can be considered a red flag.
