On 26 August 2024, the Accounting and Corporate Regulatory Authority (“ACRA“) announced that alternate addresses in ACRA’s public records will be replaced with contact addresses by the end of 2024.
As background, ACRA maintains public records of information about business entities and associated individuals, including their residential addresses. Individuals who are position holders (e.g. company directors, business owners) and public accountants may elect to pay a S$40 fee to provide an alternate address instead of their residential address.
On 2 July 2024, the ACRA (Registry and Regulatory Enhancements) Bill (“Bill“) was passed in Parliament to, among other matters, address personal data protection concerns by replacing residential addresses with contact addresses as the default address displayed on ACRA’s public records. The alternate address regime will be abolished and similarly replaced by the contact address regime by the end of 2024.
Upon the commencement of the contact address regime, it will become mandatory for all position holders, public accountants and shareholders to provide a contact address. The contact address should be located in the same jurisdiction as the residential address of the individual, and must not be a post office (PO) box address.
Individuals who provide their contact address will still be required to provide their residential address, but such residential address will not be made public.
Transition to Contact Address Regime
By the end of 2024, all alternate addresses registered with ACRA will be automatically converted to contact addresses. Individuals who have not registered an alternative address with ACRA will continue to have their residential address displayed as their contact address.
Ahead of the implementation:
- Individuals who are position holders or public accountants may update or provide an alternate address to ACRA before the commencement of the contact address regime. From 23 August 2024 onwards, the S$40 fee will be waived.
- Individuals who are solely shareholders may wish to engage their company secretaries or Corporate Service Providers (“CSPs“) to provide a new contact address to ACRA.
Individuals who prefer to retain their residential address as their contact address do not have to take any action.
ACRA further recommends that CSPs check their clients’ preferred addresses and update ACRA accordingly.
Click on the following links below for more information:
- ACRA Announcement titled “Introduction of Contact Address to Replace Alternate Address” (available at the ACRA website at www.acra.gov.sg)
- Rajah & Tann July 2024 Legal Update titled “ACRA Enhances Corporate Compliance Regime to Combat Money Laundering”
Disclaimer
Rajah & Tann Asia is a network of member firms with local legal practices in Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Our Asian network also includes our regional office in China as well as regional desks focused on Brunei, Japan and South Asia. Member firms are independently constituted and regulated in accordance with relevant local requirements.
The contents of this publication are owned by Rajah & Tann Asia together with each of its member firms and are subject to all relevant protection (including but not limited to copyright protection) under the laws of each of the countries where the member firm operates and, through international treaties, other countries. No part of this publication may be reproduced, licensed, sold, published, transmitted, modified, adapted, publicly displayed, broadcast (including storage in any medium by electronic means whether or not transiently for any purpose save as permitted herein) without the prior written permission of Rajah & Tann Asia or its respective member firms.
Please note also that whilst the information in this publication is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as legal advice or a substitute for specific professional advice for any particular course of action as such information may not suit your specific business and operational requirements. You should seek legal advice for your specific situation. In addition, the information in this publication does not create any relationship, whether legally binding or otherwise. Rajah & Tann Asia and its member firms do not accept, and fully disclaim, responsibility for any loss or damage which may result from accessing or relying on the information in this publication.
