In Singapore, businesses are given a unique business registration number by the Accounting & Corporate Regulatory Authority, also known as ACRA, or other agencies that provide Unique Entity Numbers (UENs). Understanding your company’s UEN Singapore might be helpful if you need to contact the government or take other business-related action. It is granted to people who will carry on domestic business.
What is a UEN?
A company’s identification number, or UEN. ACRA assigns a nine or ten-digit code to each firm in the nation. It is used to track it down by utilizing official search databases and legal frameworks. The Singaporean government grants this identity to all organizations authorized to operate within the country. The Accountancy and Corporation Regulatory Authority of Singapore issues the essence, which consists of 9 to 10 decimal digits. A company’s UEN is the most crucial identifying feature in all government frameworks.
Who will be issued a UEN?
All of the following entities that are registered in Singapore must have a UEN now that it has been available since 2009:
Limited liability companies (LLPs)
Health care facilities
Remember that your UEN will remain a permanent and unique number even if your business name changes. Additionally, no other organization will receive this unique number. The government may encourage entities to add sub-entity codes to their systems to designate branches and divisions if they only seldom or never contact government agencies or sub-entities, such as branches or divisions of an entity.
Who will not be required to obtain a UEN?
Individuals can contact government agencies by using their NRIC numbers.
Businesses that hardly ever work with agencies
Sub-entities like Branch offices and divisions of an entity
What advantages does the UEN offer?
Since 2009, the UEN has been required to start a business. In the past, firms had to have several registration processes and onerous reporting requirements regarding company tax returns, import/export licenses, and other regulatory necessities. The fact that each government agency had its unique number added a boatload of paperwork to the mix. By streamlining this procedure, the UEN enables firms to contact the government via a single number.
When Should UEN Be Used?
You must include the Unique Entity Number any time you conduct any of the following transactions with ACRA:
- Annual Accounts Filing
- Copies of a resolution around
- Issuing shares or making other adjustments to the ownership structure
- Dissolving the business
- When obtaining import/export licenses from Singapore Customs
- When you submit information to the Central Provident Fund (CPF) Board and pay fees,
- Changing or updating registered information, such as a person’s name, registered address, information about a director, a company secretary, an LLP, partners, and the financial year.
- When you conduct business with the Inland Revenue Authority of Singapore to file your yearly or GST taxes
In addition to these significant activities with government institutions, the UEN number will be necessary when dealing with private companies, mainly when opening a bank account, subscribing to phone or utility services, or signing any contracts or agreements.