Instant changes on applications lodged online

The Investment Promotion Authority’s online registry service has now been enabled to instantly update certain records once they are lodged online.

This now means that once a client uses the online services to change records or data, the system will automatically update the entity records without an officer having to physically review the filed application.

The following business services no longer require review by IPA Registry staff:

  1. Change of Registered Office and Address for Service;
  2. Maintain Directors and Secretaries (new appointments or to update existing records);
  3. Maintain Shareholders (transfer of shares or issue new shares); and
  4. Annual Returns for exempted companies (on-going since the online registry went live in 2013).

Since the introduction of the IPA’s online registry system in 2013, the Authority has been embracing the benefits of the system to the stakeholders and at the same time worked on improving its features to suit the current business trend.

“The IPA continuously endeavors to bring quality and efficient services to its valued clients,” said IPA Managing Director Mr. Clarence Hoot. “A big part of this commitment includes ensuring that business records are regularly updated and on time as required,” he said.

Mr. Hoot also indicated that more business services such as applications for the registration of Business Names, Associations and Business Groups will be added into the list of applications that will not require a review by registry officers.

He however clarified that the instant change of records in the database does not apply to filing of paper forms at IPA’s front counter.

“Applications filed through the counters will still have to undergo the normal review by officers,” Mr. Hoot said.

Mr. Hoot said the IPA views this step as beneficial to all business owners and agents as it saves time and resources spent on attending to these changes.

“Businesses can now concentrate on running and growing their business, rather than spending time and resources attending to simple administrative matters,” he said.