Update Company Registered Address
Here's a general overview on how to update a company's registered address in Singapore, Hong Kong, and Malaysia:
Singapore
Governing Body: Accounting and Corporate Regulatory Authority (ACRA)
Process:
Ensure the new address meets requirements (physical office, accessible during business hours).
Pass a resolution by the company's board of directors.
Update the address with ACRA within 14 days of the change via the Bizfile portal.
Consequences of Non-Compliance: Fines up to S$5,000 for failing to register a valid address.
Hong Kong
Governing Body: Companies Registry
Process:
Notify the Companies Registry within 15 days of the change.
Submit the notification via the e-Registry platform or by filing Form NR1.
Consequences of Non-Compliance: Fines up to HK$50,000 and additional daily fines for continued offense.
Malaysia
Governing Body: Companies Commission of Malaysia (SSM)
Process:
Appoint a new registered agent if the change involves a change of registered office.
Lodge the required forms (Form 24 and Form 49) with SSM within 30 days from the date of change.
Consequences of Non-Compliance: Penalties may be imposed for non-compliance with the Companies Act 2016.
General Considerations
Official Address: The registered address is the official address for all communications and notices.
Public Record: The registered address is part of the public record.
Other Updates: You may also need to update the address with other government agencies, banks, and business partners.
More Detailed Information
Let's delve deeper into the specifics of updating a company's registered address in Singapore, Hong Kong, and Malaysia.
Singapore
Governing Body: Accounting and Corporate Regulatory Authority (ACRA)
Process:
Ensure the new address meets requirements:
It must be a physical office address in Singapore, not a P.O. Box.
It must be accessible to the public for at least three hours during regular business hours on each business day.
It must be a valid address where the company can receive official communications and notices.
Pass a resolution by the company's board of directors:
The board must formally approve the change of registered address.
The resolution should be recorded in the company's minutes.
Update the address with ACRA within 14 days of the change via the Bizfile portal:
You will need to log in to the Bizfile portal using your CorpPass or SingPass.
Select the "Update entity information" eService.
Follow the instructions to update the registered address.
Consequences of Non-Compliance:
Failure to register a valid registered office address is an offense.
The company and its directors may be fined up to S$5,000.
Hong Kong
Governing Body: Companies Registry
Process:
Notify the Companies Registry within 15 days of the change:
You can submit the notification via the e-Registry platform or by filing Form NR1.
The notification must include the company name, company number, new registered address, and effective date of the change.
Update the address with the Inland Revenue Department (IRD):
The Companies Registry will notify the IRD of the change.
The IRD will issue a new Business Registration Certificate (BRC) with the updated address.
Consequences of Non-Compliance:
Failure to notify the Companies Registry of a change of registered address is an offense.
The company and its responsible persons may be fined up to HK$50,000.
A further fine of HK$1,000 per day may be imposed for each day the offense continues.
Malaysia
Governing Body: Companies Commission of Malaysia (SSM)
Process:
Appoint a new registered agent if the change involves a change of registered office:
The registered agent must be a company secretary licensed by SSM.
The new registered agent must consent to act as the company's registered agent.
Lodge the required forms (Form 24 and Form 49) with SSM within 30 days from the date of change:
Form 24 is a notice of change of registered office.
Form 49 is a notification of change in the particulars of directors, managers, and secretaries.
The forms must be lodged electronically via the SSM's website.
Consequences of Non-Compliance:
Failure to lodge the required forms with SSM within the stipulated time is an offense.
The company and its directors may be liable to a fine.
Additional Notes:
Other Updates: In addition to updating the registered address with the relevant authorities, you may also need to update the address with other government agencies, banks, and business partners.
Disclaimer: The information provided above is for general guidance only and may not be exhaustive. It is important to refer to the official websites of the relevant authorities for the most up-to-date information and specific requirements.
How Bestar can Help
Bestar plays a vital role in helping companies navigate the complexities of updating their registered address. Here's how we can assist:
Expertise and Knowledge
Regulatory Compliance: We possess in-depth knowledge of the specific regulations and requirements in Singapore, Hong Kong, and Malaysia, ensuring your company adheres to all legal obligations.
Procedural Guidance: We can guide you through the entire process, from drafting board resolutions to filing the necessary forms with the relevant authorities.
Up-to-date Information: We stay informed about any changes in regulations or procedures, ensuring your company's update is accurate and compliant.
Efficiency and Accuracy
Streamlined Process: We can handle the entire process efficiently, saving you time and effort.
Accurate Documentation: We ensure all documents are correctly prepared and filed, minimizing the risk of errors or delays.
Reduced Risk: Our expertise helps you avoid potential penalties or legal issues due to non-compliance.
Other Support
Advisory Role: We can advise you on any implications of the address change, such as tax considerations or contractual obligations.
Liaison with Authorities: We can act as your liaison with the relevant authorities, ensuring smooth communication and timely processing.
Record Keeping: We can help you update your company's internal records and registers to reflect the new address.
Benefits of Engaging Bestar
Peace of Mind: You can focus on your core business activities, knowing that the address update is being handled by experts.
Cost-Effectiveness: While there are fees involved, the cost of professional assistance can be outweighed by the potential costs of non-compliance or errors.
Long-Term Value: Building a relationship with Bestar can provide ongoing support for your company's compliance needs.
In Conclusion
Engaging Bestar for your registered address update offers significant benefits. Our expertise, efficiency, and support can ensure a smooth and compliant process, allowing you to focus on your business with confidence.
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