{"id":7358,"date":"2023-11-22T08:10:00","date_gmt":"2023-11-22T00:10:00","guid":{"rendered":"https:\/\/dollarsandsense.sg\/business\/?p=7358"},"modified":"2023-11-27T15:43:18","modified_gmt":"2023-11-27T07:43:18","slug":"step-by-step-guide-change-registered-business-activity-in-bizfile","status":"publish","type":"post","link":"https:\/\/dollarsandsense.sg\/business\/step-by-step-guide-change-registered-business-activity-in-bizfile\/","title":{"rendered":"Step-By-Step Guide On How To Change Your Registered Business Activity In BizFile"},"content":{"rendered":"\n

The Singapore Standard Industrial Classification (SSIC)<\/a> is the national standard for classifying economic activities undertaken by companies in Singapore. Every business owner needs to submit at least one SSIC code when incorporating a company. You can add a secondary one if you want, but there can be no more than two.<\/p>\n\n\n\n

Over the last few years, particularly during the Covid-pandemic, many business owners have realised the importance of updating their SSIC Code or registered business activity in order to qualify for certain COVID-19-related government grants. <\/p>\n\n\n\n

Furthermore, if you need to pivot your business to seize new opportunities, you will also need to change your registered business activity in BizFile+. This can also be essential in determining if you fall within the latest government schemes and announcements, including whether you qualify for specific government grants. <\/p>\n\n\n\n

Read Also: Employee Details That Companies Must Collect (And What Employees Do Not Have To Provide)<\/a><\/em><\/strong><\/p>\n\n\n\n

Here is a step-by-step guide to changing your business activity.<\/p>\n\n\n\n

Step 1: Log In To BizFile+ Using Your SingPass<\/strong><\/h3>\n\n\n\n

If you have a Unique Entity Number (UEN) for your business, click on the button \u201cFor Business Users\u201d. Otherwise, click on the other button for individual users.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Step 2: Click On \u2018eServices\u2019, Then \u2018Local Company\u2019<\/strong><\/h3>\n\n\n\n

For Singapore businesses, you can go to \u201cLocal Company\u201d. If you are a sole-proprietor or in a limited partnership or limited liability partnership, you can click on the relevant links right below \u201cLocal Company\u201d.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Read Also: <\/em><\/strong>How To Choose The Right Legal Entity To Start A Business In Singapore<\/em><\/strong><\/a><\/em><\/strong><\/p>\n\n\n\n

Step 3: Click On \u2018Make Changes\u2019<\/strong><\/h3>\n\n\n\n

Under \u201cMake Changes\u201d, there is a listing of 13 types of eServices which you can choose to make changes for your business (with the related fees involved). On the right column, there are links to more information about the service and an in-depth step-by-step eGuide.<\/p>\n\n\n\n

\"Make<\/figure>\n\n\n\n

Step 4: Click On No. 1 \u201cChange in Company Information including Appointment\/Cessation of Company Officers\/Auditors\u201d<\/strong><\/h3>\n\n\n\n

This eService allows you to update changes in the company\u2019s particulars including Business Activity. Other changes that you can make within this link includes Company Name, Address and the Appointment\/Cessation of company officers\/auditors.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Step 5: Enter your UEN and click on \u201cNext\u201d (at the top or bottom right of the page)<\/strong><\/h3>\n\n\n\n

Your Unique Entity Number or UEN is your company\u2019s unique identification number that will be used in all interactions with government agencies.<\/p>\n\n\n\n

\"Using<\/figure>\n\n\n\n

Step 6: Select \u201cChange in Activity\u201d. Tick At The Checkbox To Indicate A Change In This Section<\/strong><\/h3>\n\n\n\n

Here that you can update your new primary activity, new secondary activity and effective date of change.<\/p>\n\n\n\n

\"Change<\/figure>\n\n\n\n

Step 7: Enter \u201cNew Primary Activity\u201d and click on \u201cSearch Primary Activity\u201d.<\/strong><\/h3>\n\n\n\n

When incorporating a company in Singapore, you will be asked to specify up to two principal activities, with the first being the primary activity. These activities can be chosen from the list specified in the Singapore Standard Industrial Classification (SSIC). <\/p>\n\n\n\n

Read Also: <\/em><\/strong>What is Singapore Standard Industrial Classification (SSIC) Code And Why It Matters?<\/em><\/strong><\/a><\/p>\n\n\n\n

\"New<\/figure>\n\n\n\n

Step 8: Select SSIC code and click \u2018OK\u2019 to proceed.<\/strong><\/h3>\n\n\n\n

The SSIC codes chosen during incorporation matter, especially when you seek a further government license, e.g., a recruitment firm must choose \u2018SSIC code 78104 \u2013 Employment agencies\u2019 to receive the Employment Agency licence from MOM.<\/p>\n\n\n\n

\"SSIC<\/figure>\n\n\n\n

Step 9: Enter \u2018New Primary User-Described Activity\u2019, if applicable.<\/strong><\/h3>\n\n\n\n

You can write a one-sentence custom description of your business activity for your Business Profile. Note that you do not have to stick to the SSIC code standard description. You can write something that describes your business more accurately for your Business Profile on ACRA.<\/p>\n\n\n\n

\"New<\/figure>\n\n\n\n

Step 10: Enter \u2018New Secondary Activity\u2019 and click on \u2018Search Secondary Activity\u2019, if applicable.<\/strong><\/h3>\n\n\n\n

The \u201cSecondary Activity\u201d field is optional.<\/p>\n\n\n\n

For example, if you have a cake shop, your primary user-described activity can be \u201cSale of Bakery Products\u201d with SSIC Code 47213. If you also intend to sell baking tools, you would then use SSIC Code 47534 in \u201cSecondary Activity\u201d and \u201cSale of Baking Tools\u201d for \u201cSecondary User-Described Activity\u201d.<\/p>\n\n\n\n

\"New<\/figure>\n\n\n\n

Step 11: Select SSIC code and click \u2018OK\u2019 to proceed<\/strong><\/h3>\n\n\n\n

To decide on your SSIC Code, you can use the free SSIC search tool on the BizFile+ website<\/a> using keywords relating to your business.<\/p>\n\n\n\n

\"Select<\/figure>\n\n\n\n

Step 12: Select or enter \u2018Effective Date of Change\u2019.<\/strong><\/h3>\n\n\n\n

Ensure that you get the effective date of change correct as a penalty may be imposed for late notification. In fact, you must update the information in BizFile+ within 14 days if there are changes to your business particulars such as business activity, principal place of business, business owners and\/or authorised representative.<\/p>\n\n\n\n

\"Select<\/figure>\n\n\n\n

You Have To Inform ACRA And IRAS Separately When Your Company Has Changed Its Principal Activity <\/h3>\n\n\n\n

Currently, principal activity changes filed with ACRA are not transmitted to IRAS. You have to inform ACRA and IRAS separately when your company has changed its principal activity by:<\/p>\n\n\n\n

  1. Updating the company’s new business activity (i.e. SSIC Code) with ACRA via BizFile+; and<\/li>
  2. Emailing IRAS via myTax Mail<\/a> to inform IRAS of the effective date of change of the company’s new business activity together with a copy of the Business Profile extracted from ACRA’s BizFile+.<\/li><\/ol>\n\n\n\n

    It is important that you inform IRAS of the company’s new business activity (i.e. SSIC Code) as this record may be used by IRAS for tax assessment purposes.<\/p>\n\n\n\n

    Featured Image Credit: Giovanni Lidya\/DollarsAndSense<\/em><\/p>\n\n\n\n

    This article was first published on 25 June 2021 and has been updated with latest information.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Your business activity can determine whether you qualify for government grants.\n","protected":false},"author":22,"featured_media":11410,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[95],"tags":[100,1071,1073,1072],"yoast_head":"\nStep-By-Step Guide On How To Change Your Registered Business Activity In BizFile | DollarsAndSense Business<\/title>\n<meta name=\"description\" content=\"Changing your business activity can affect whether you are eligible for government grants or have to adhere to safe management measures.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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