ACRA’s New Contact Address Regime: What You Need to Know and How to Prepare

With the passing of the Registry and Regulatory Enhancements Bill 2024, ACRA (Accounting and Corporate Regulatory Authority) is introducing a significant change to how company officers’ addresses are recorded. By the end of 2024, residential addresses will no longer appear in public records. Instead, a new Contact Address will be displayed. This article explains what this change means, what actions you need to take, and answers common questions about the new Contact Address regime.

What is the Contact Address Regime?

The Contact Address regime is a privacy enhancement measure that replaces residential addresses in ACRA’s public records. This allows company officers to keep their residential addresses private while maintaining transparency for business and regulatory purposes.

Key Highlights of the New Regime

• Implementation Deadline: The transition will be completed by the end of 2024.
• Who Needs to Comply: All company officers, including directors, secretaries, and managers.
• Contact Address Usage: This address will appear in public records instead of residential addresses.

Why is This Change Important?

Currently, residential addresses of company officers must be disclosed in ACRA’s public records. This raises privacy concerns for individuals who prefer not to have their addresses made public. The new regime resolves this issue by allowing a Contact Address to be used instead, striking a balance between privacy and regulatory transparency.

What Actions Should You Take?

To comply with the new regime, company officers must take one of the following steps:

Option 1: Retain Your Residential Address as Your Contact Address

• If you are comfortable with your residential address appearing in public records, no action is required. Your residential address will automatically serve as your Contact Address.

Option 2: File a Separate Contact Address

• If you prefer to use an alternate address:
  1. Consult with your Corporate Service Provider (CSP) or contact us for guidance.
  2. File the chosen Contact Address in ACRA’s BizFile+ system.
  3. Ensure that the Contact Address meets the jurisdictional requirements (explained below).

Frequently Asked Questions (FAQs)

Q1: Can I Provide Different Contact Addresses for Different Entities?

No. You can only provide one Contact Address, which will be used for all entities you are associated with. This is similar to the Alternate Address concept in ACRA’s current BizFile+ system.

Q2: Do I Need to File a Contact Address for Every Entity I am Part Of?

No. Filing a Contact Address for one entity automatically updates your records for all associated entities.

Q3: Can I Use a Singapore Contact Address if I Reside Overseas?

No. The Contact Address must match the jurisdiction of your residential address. For instance:

• If your residential address is in Malaysia, you cannot use a Singapore address as your Contact Address.
• You may use an office address within the same jurisdiction as your residential address.

Q4: What Happens if I Do Not Provide a Contact Address?

If no Contact Address is provided, your residential address will remain on public records. To safeguard your privacy, it’s advisable to file a Contact Address.

Benefits of Filing a Contact Address

• Enhanced Privacy: Your residential address remains confidential.
• Compliance with Regulations: Avoid penalties and ensure your records are updated.
• Flexibility: Use an office or alternate address within the same jurisdiction.

How to File Your Contact Address

The process is straightforward:

1. Consult with Your CSP: Corporate Service Providers can guide you through the process and handle the filing on your behalf.
2. Submit the Address in BizFile+: ACRA’s online portal, BizFile+, allows for seamless updates to your company records.
3. Verify Compliance: Ensure your Contact Address meets jurisdictional and regulatory requirements.

Conclusion

The new Contact Address regime introduced under the Registry and Regulatory Enhancements Bill 2024 is a welcome step toward protecting the privacy of company officers. By replacing residential addresses with a Contact Address in public records, ACRA strikes a balance between transparency and privacy.

Need Help?

If you have any questions or require assistance with filing your Contact Address, our team is here to help. Contact us today to ensure your company remains compliant with ACRA’s updated regulations.