Singapore
Financial Reporting Obligations for Companies in Singapore
1. Registry for Submitting Financial Statements (Annual Reports) in Singapore
In Singapore, companies are required to submit their financial statements (annual reports) to the Accounting and Corporate Regulatory Authority (ACRA) (https://www.acra.gov.sg). The registry where these filings are made is the BizFile+ system (https://www.bizfile.gov.sg), an online filing portal provided by ACRA.
2. Legal Forms Required to Publish Financial Statements to ACRA
The following legal forms in Singapore are obliged to submit financial statements (annual reports) to ACRA:
- Private Company Limited by Shares
- Public Company Limited by Shares
- Public Company Limited by Guarantee
- Limited Liability Partnership
- Foreign Company
Legal forms not obliged to submit financial statements to ACRA include:
- Sole Proprietorship – Not required to submit financial statements
- Partnership – Not required to submit financial statements
Note: Sole proprietorships and partnerships are generally not required to submit financial statements due to their less complex structures.
3. Audit Requirements for Financial Statements in Singapore
In Singapore, certain companies must have their financial statements audited. The criteria are based on thresholds for turnover, total assets, and the number of employees. The rules are as follows:
| Legal Form | Rule | Criteria |
| Private Company Limited by Shares | Exempt if classified as a "small company" | Must meet at least 2 of 3: revenue (no more than) S$10m; assets (no more than) S$10m; employees (no more than) 50 |
| Public Company Limited by Shares | Audit always required | No thresholds – mandatory for all public companies |
| Public Company Limited by Guarantee | Audit always required | No thresholds – mandatory for all public companies |
| Limited Liability Partnership | Exempt if meeting small company criteria | Must meet at least 2 of 3: revenue (no more than) S$10m; assets (no more than) S$10m; employees (no more than) 50 |
| Foreign Company | Audit required | Generally mandatory unless exempted by law |
4. Publication of Financial Statements on the Local Stock Exchange
If a company is listed on the local stock exchange, it must publish its financial statements on the Singapore Exchange (SGX) (https://www.sgx.com).
5. Deadline to Submit Financial Statements
- Private companies: within 7 months after the financial year-end
- Public companies: within 5 months after the financial year-end
6. Partial Financial Statements Submission
Companies classified as "small companies" may submit simplified financial statements instead of full reports if they meet the thresholds (revenue (no more than) S$10m; assets (no more than) S$10m; employees (no more than) 50).
7. Consequences of Non-Submission
- Fines: Late filing penalties range from S$200 to S$1,200
- Legal actions: Directors may be held personally liable
- Striking off: Persistent non-compliance can lead to removal from register
8. Special Conditions for Foreign-Owned Branches and New Companies
Foreign-owned branches must follow the same filing rules as local companies. Newly established companies must file their first financial statements within 18 months of incorporation.
Sources
| Source | Link |
| Accounting and Corporate Regulatory Authority (ACRA) | https://www.acra.gov.sg |
| BizFile+ Portal | https://www.bizfile.gov.sg |
| Singapore Exchange (SGX) | https://www.sgx.com |
| Start Companies Search | Order Credit Report |
Түлхүүр үгс
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