Jan 09, 2025
Holding Company | Singapore Holding Company for Southeast Asia Expansion
Singapore holding companies stand out with multifaceted advantages, becoming an ideal option for businesses expanding overseas.
According to the latest announcement from the Accounting and Corporate Regulatory Authority (ACRA) of Singapore, the old BizFile+ system was upgraded to the new Bizfile system on December 9, 2024, and has been officially launched. However, during its initial operation, the new system encountered technical issues, causing some customers difficulties in processes such as company registration and annual filing.
ACRA’s announcement highlighted that some users experienced system issues when attempting to submit filings, leading to failures or delays. ACRA has urgently deployed technical teams to address these problems and has pledged to restore system stability as soon as possible.
On December 30, 2024, ACRA issued a special notice via email to all professional service providers, stating that penalties for late filings after December 21, 2024, would be waived due to system malfunctions. Since the timeline for resolving these issues remains uncertain and repairs may continue until January, ACRA advises all parties to remain patient and make necessary adjustments.
System instability is normal during the initial phase of a new system. If you receive related emails from ACRA, there is no need to panic. Feel free to contact us at any time, and we will provide appropriate solutions. For affected approval matters, please remain patient as we closely monitor and follow up on relevant developments.