ACRA 2026: The New Compliance Reality for Foreign Branches

Singapore remains a magnet for capital, pulling in US$192 billion in foreign direct investment (FDI) in 2024 alone [1]. With over 1,030 foreign headquarters and 81,300 foreign-owned firms currently operating here [2], the regulatory load is heavy. To manage this volume, ACRA is pushing through a digital-first mandate under the Corporate and Accounting Laws (Amendment) Act 2025, which hits full effect by April 2026 [3].

The old BizFile+ system is gone. Its replacement, the new Bizfile portal, went live on December 9, 2024 [4]. By January 2026, the transition will be absolute—physical submissions will no longer be an option [5]. This isn't a standalone database either. The portal is now baked into the broader ecosystem, linking directly to the Inland Revenue Authority of Singapore (IRAS) and the Infocomm Media Development Authority (IMDA) to tap into digital invoicing networks like InvoiceNow [6].

The updated framework brings Singapore in line with the latest Financial Action Task Force (FATF) standards. In the past, newly registered entities had a 30-day window to get their Register of Registrable Controllers (RORC) in order. That grace period has been scrapped; you are now expected to maintain a RORC from the very day of registration [7].

When it comes time for annual filings, foreign companies must now explicitly declare whether they are exempt from maintaining these registers [8]. Starting June 16, 2025, the requirements expand further: you must maintain a Register of Nominee Directors (ROND) and a Register of Nominee Shareholders (RONS), with the data filed directly into ACRA's central register [9]. To ensure everyone takes this seriously, the maximum fine for RORC, ROND, and RONS offences has been hiked to S$25,000 [10].

The 2026 Compliance Shift

While locally incorporated subsidiaries are used to full XBRL filing, foreign branches have typically lodged financial statements in PDF format [11]. There is a catch, however. If a foreign branch’s head office uses accounting standards that aren't substantially similar to IFRS or SFRS, they must now lodge 'unaudited summary financial statements' with ACRA [12].

For those entities that do fall under XBRL requirements, the new Taxonomy 2026 released in February 2026 is the benchmark. It requires tagging roughly 210 data elements for full templates and 120 for simplified versions [13]. Deadlines remain strict: annual returns are due within 60 days of the Head Office AGM, or 7 months from the financial year-end if no AGM is required [14]. If you miss the window, expect penalties between S$300 and S$600 [13]. You can buy a 60-day extension for S$200, but it’s better to stay ahead of the curve [15]. One final detail: audit reports must now identify the specific public accountant in charge of the engagement by name [16].

Running a branch here carries specific physical requirements. You must maintain a registered office that is accessible to the public for at least five hours every business day [15] and have at least one authorised representative who is a Singapore resident [18]. The 2025 amendments also raised the stakes for governance, increasing the maximum fine for directors failing to act in the company’s best interests to S$20,000 [19].

If you work with a Corporate Service Provider (CSP), expect the onboarding process to feel different. Under the Corporate Service Providers Act 2024, CSPs must now perform real-time video-based KYC when taking on foreign clients [7]. The penalties for CSPs who fail their AML/CFT duties are severe, reaching up to S$100,000 [20]. Lastly, be aware that if a foreign company is struck off, the Registrar can refuse to restore it if there is any reason to believe the entity might be used for purposes prejudicial to public peace [16].