1) ACRA aims to provide a responsive and trusted regulatory environment for businesses through facilitating ease of doing business and regulating entities. 2) ACRA has digitized business registration through its online BizFile system, allowing 24/7 filing and reducing registration time from 14 days to 15 minutes. This enhanced productivity and reduced costs. 3) ACRA's new BizFile+ system provides a customized dashboard, guided assistant, and mobile access to further improve the customer experience of business registration and services.

1. Pushing the Boundaries of
Business Registration
ECRF/CRF Conference 2016
Mr Kenneth Yap, Chief Executive
Accounting and Corporate Regulatory
Authority (ACRA) - Singapore
10 May 2016

2. Agenda
1 Overview of ACRA
2 From Frontline to Online
3 Customer-Centricity
2
4 Best Practices for Digitisation
5 Towards the Future

3. Overview of ACRA
1
3

4. 4
Mission
Vision
Singapore: The trusted and
best place for business
To provide a responsive and
trusted regulatory
environment for businesses,
public accountants and
corporate service providers.

5. 5
ACRA’s Role in Singapore
 Regulates business entities, public accountants and corporate
service providers
 Facilitates ease of doing business
and development of the public
accountancy sector
 Foster a business and regulatory
environment conducive to
enterprise and growth in Singapore

6. 6
Overview of Singapore’s
Corporate/Public
Accountancy Landscape
Sole-Proprietorships
& Partnerships
204
Limited
Partnerships
15,257
Limited Liability
Partnerships
1,079
Public Accountants
68%
Companies with Green Tick** of
Compliance
• Statistics in orange boxes are for one quarter from 01 Oct ’15 to 31 Dec ’15, compliance statistics are accurate as
at 31 Dec 2015 and all other statistics are accurate as at 31 Mar 2016.
** Based on Companies’ Annual Return (AR) filed in compliance with 3 statutory requirements under the Companies
Act, namely s175 [holding of Annual General Meeting (AGM)], s197 [filing of AR] and s201 [laying of financial
statements at AGM].
293,443
LocalCompanies
3,029
Public Companies
290,414
PrivateCompanies
160,354
411,083
Bizfile Transactions
~$16.4million
Revenue

7. From Frontline to Online
2
7

8. 8
Digitising Business Registration
Faster
turnaround
time
Enhance
Quality
Reduce cost
and improve
productivity
and reliability

9. 9
ACRA’s BizFile
Public
Government and
External Agencies
271 e-services, eg:
• Entity incorporation
• Changes to shareholdings
• Registering charges
• Lodging resolutions
• Updating particulars
• Filing of Annual Returns
• Purchase of information
Over 80 interfaces:
• Transmission of info for:
− Application of licences / grants
− Employment matters
• Receipt of info such as :
− Death records
− Changes in residential addresses
• Seamless workflow of regulatory
offences between ACRA and
State Courts
Full XBRL filing since 2014
Over 500,000 users access BizFile system per month
24/7 filing100% online since 2003
Over 1.7mil transactions
completed per year
ACRA’s Online Registration,
Filing and Information
Retrieval System

10. 10
Impact of Digitisation
COST$1200 - $35,000 $300
UPDATE INFORMATION14-21 Days 30 minutes
TO REGISTER14 Days 15 minutes
PEOPLE800 55
COUNTERS23 3
Before After
Enhance
productivity
Better management of
records
Streamline work
processes
Integrated with compliance
and enforcement system
Fast business registration
and incorporation

11. 11
Other Digital Initiatives Integrated with BizFile
UEN is the standard identification number of a registered entity that is used
for convenient interactions with government agencies.
A free tool provided by ACRA to facilitate XBRL filing
by pre-populating data fields from company’s
spreadsheets / financial statements.
Singapore Personal Access (or SingPass) is a Two-
Factor Authentication1 (2FA) gateway for e-government
transactions.
1 In addition to their username and password, users have the option of receiving a one-time
"second factor" password delivered through Short Messaging Service (SMS) or OneKey token
as an extra layer of security to better protect their personal information.
Corporate Pass (or Corp Pass) available from
1Q2017 to allow multiple user access.

12. 12
Value-added Business Facilitation Services
One-stop
Shop
Purchase Business Profile
Apply for GST
Registration
Reserve Domain
Name
Subscribe to
Enterprise One
Newsletter on Govt
Grants
Activate Customs
Account
Open Corporate Bank Account
Sign up for GeBiz Alerts

13. Customer-Centricity
3

14. Next Phase of Digital Filing

15. 15
Launched new BizFile+ on 3 Jan 2016
My Dashboard
Provides summarised
view of all transactions
and statuses
Guided Assistant
Explore characteristics of
different types of business
entities
Easier
Navigation
ACRA On The Go
[by 2Q2016]
Existing services
• Business Directory Search
• AGM Calculator
• AskACRA
New services
• Simple transactional services
o e.g. Business Renewal and
Change of Office Address
• iShop purchase of selected
information products
o e.g. Business Profile,
Electronics Extract and
Business Statistics
• Transaction status enquiry
Streamlined
Processes
One-step
incorporation and
merging of forms e.g.
change of particulars

16. 16
New Features of BizFile+
Customised Dashboard: displaying user-
related information in one screen
Permanent widget

17. 17
New Features of BizFile+
Guided Assistant: Explore characteristics of
different types of business entities

18. Best Practices for
Digitisation
4

19. 19
Best Practices for Digitisation
Develop a long-term IT
implementation roadmap to
proactively monitor and
identify systems requiring
replacement or upgrading
Develop an extensive
public communications
plan (a) to notify the
public, our stakeholders
and partners and (b) to
mitigate transition
downtime
Conduct Business Process Re-
engineering and Service Re-design
before new system development /
system revamp
• Analyze current processes, identify non-
value adding activities and redesign the
process to create value for both external
and internal users
Identifying and addressing
outsourcing risks early leads to a
more optimal outcome and greater
benefits from outsourcing
1
2
3
4

20. Towards the Future
5

21. 21
“Moments of Life” approach to Providing
Information on Company Matters
e-Concierge
Service
• Liability differences
between entity types
• Licensing
• Financing options
• Government grants
Setting up an
Entity
• Foreign worker permits
• Compliance requirements
• Tax obligations
• Government assistance
schemes
• Patents and IP protection
Managing
the Entity
• Obligations before
terminating a
business
Closing
the Entity
Provide targeted information from multiple agencies for business user

22. Accounting and Corporate Regulatory Authority
10 Anson Road #05-01/15
International Plaza
Singapore 079903
www.acra.gov.sg
www.facebook.com/SG.ACRA
www.twitter.com/ACRA_SG
22