ACRA’s New Contact Address Regime: What Business Owners Need to Know

As a business owner in Singapore, staying informed about regulatory changes is crucial. The Accounting and Corporate Regulatory Authority (ACRA) has recently introduced a significant update that affects how your address information is displayed in public records. Let’s break down what this means for you.

What’s Changing?

ACRA is transitioning from the current Alternate Address system to a new Contact Address regime. This change aims to enhance the protection of residential addresses while maintaining transparency in business records.

Key Points:

1. New System: The Contact Address regime will replace the existing Alternate Address system by the end of 2024.

2. Automatic Conversion: All existing Alternate Addresses will become Contact Addresses.

3. Fee Waiver: From August 23, 2024, the $40 fee for filing an Alternate Address will be waived.

4. Public Display: Your Contact Address will be shown in ACRA’s public records instead of your residential address.

What Does This Mean for You?

• If you’re comfortable with your residential address being publicly displayed, no action is required.
• If you’ve previously provided an Alternate Address, it will automatically become your Contact Address.
• If you haven’t opted for an Alternate Address before, you can now do so at no cost before the new regime starts.

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Important Notes for Different Roles

For Company Directors and Position Holders:

• Consider providing an Alternate Address before the end of 2024 if you haven’t already.
• Your residential address will be your Contact Address unless you provide a different one.

For Shareholders:

• If you’re only a shareholder, work with your company secretary to check and update your address if needed.
• You can provide a new address to be used as your Contact Address when the regime takes effect.

Frequently Asked Questions

Q1: Can I have different Contact Addresses for different entities?

A: No, you’ll have one Contact Address for all associated entities.

Q2: Can I provide a Singapore Contact Address if I reside overseas?

A:Your Contact Address must be in the same jurisdiction as your Residential Address. For instance, a Malaysian resident can’t use a Singapore address as their Contact Address. Additionally, it cannot be a P.O. Box address.

Q3: Will ACRA send official correspondence to my Contact Address?

A: No, official correspondences will still be sent to your residential address.

Next Steps

1. Review your current address information with ACRA.
2. Decide if you want to provide an Alternate Address before the new regime starts.
3. Stay tuned for updates from your company secretary or ACRA as the transition approaches.

Remember, this change is about balancing transparency with privacy. Take advantage of this opportunity to update your information and protect your residential address if desired.

For more detailed information, visit the ACRA website or consult with your company secretary.

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