Singapore – Introduction of Contact Address to replace Alternate Address

With the passing of the ACRA (Registry and Regulatory Enhancements) Bill on 2 July 2024 by Parliament, Accounting And Corporate Regulatory Authority (“ACRA”) will be introducing the Contact Address regime by the end of this year. This regime will replace residential addresses in ACRA’s public registers with a Contact Address to enhance privacy.

Key Points:

• Position Holders (e.g., company directors, business owners) and Public Accountants: Existing Alternate Addresses will be converted to Contact Addresses automatically. Those without an Alternate Address will continue to have their residential address displayed until they provide an alternative.
• Shareholders who hold no other position in the business: Current addresses in ACRA’s records will automatically become their Contact Address when the regime takes effect by the end of 2024.

Preparation:

• Position holders who have not opted for an Alternate Address can do so before the regime begins, with the $40 fee waived from 23 August 2024. No action is needed for those who wish to keep their residential address as their Contact Address.
• Individuals who are solely shareholders can choose to update their address currently in ACRA’s records, The new address will be immediately displayed in ACRA’s public records and will become the Contact Address when the regime takes effect by the end of 2024.

For further details, please visit the ACRA website