How to Update Your Company’s Business Activities with ACRA

Vance Lim
Mar 25
2 min read

As your business evolves, your activities may expand or shift to new areas. Keeping your company’s business activities updated with the Accounting and Corporate Regulatory Authority (ACRA) is crucial for compliance and transparency. If your business operations no longer align with the registered SSIC (Singapore Standard Industrial Classification) codes, it’s time for an update.

Here’s a step-by-step guide on how to update your company’s business activities with ACRA.

Why Should You Update Your Business Activities?

Updating your business activities ensures that:

Your company profile accurately reflects your operations.
You comply with regulatory requirements
Potential business partners and customers have accurate information.
You avoid penalties for misrepresentation.

Step-by-Step Guide to Updating Your Business Activities

1. Determine the New SSIC Code(s)

The first step is to identify the correct SSIC code(s) that best describe your updated business activities. You can refer to the official SSIC code list on ACRA’s website or consult a corporate secretarial service for guidance.

2. Log in to BizFile+

Visit BizFile+ and log in using your SingPass or CorpPass credentials.

3. Select the Relevant Transaction

Once logged in:

Go to “eServices”
Select “Update Company Information”
Choose “Change of Business Activity”

4. Enter the New SSIC Code(s)

You’ll be prompted to enter the new SSIC codes that reflect your revised business activities. If your company has multiple activities, you can indicate a primary and secondary business activity.

5. Review and Submit the Changes

Ensure all information is accurate before submitting. ACRA does not charge a fee for this update, and changes are usually processed within a day.

6. Receive Confirmation

Once approved, you will receive an email notification confirming the update. You can also download an updated business profile from BizFile+ for your records.

Additional Considerations

If your new business activities require specific licenses or regulatory approvals, ensure compliance before making operational changes.
Some business activities may require you to notify other government agencies after updating your SSIC code.
If you’re unsure about the SSIC code selection or compliance requirements, consult a corporate secretary or business advisory firm.

Stay Compliant and Keep Your Records Updated

Regularly reviewing and updating your business activities with ACRA helps maintain compliance and ensures your company’s information is up-to-date. If you need assistance with the process, our team at Account-Ink can help simplify the update and ensure everything is in order.

Need help updating your business activities? Contact us today!