🔹 Definition
A Business Profile is an official summary document issued by a government registry—such as Singapore’s Accounting and Corporate Regulatory Authority (ACRA)—that provides key information about a registered business entity. It serves as an authoritative source of corporate identity, ownership, and operational status, and is commonly used for compliance checks, onboarding, legal verification, and due diligence.
In Singapore, a Business Profile can be downloaded via ACRA’s BizFile portal and is widely relied upon in Know Your Business (KYB), Customer Due Diligence (CDD), and Anti-Money Laundering (AML) processes.
🔹 Frequently Asked Questions (FAQs)
Q1: What information is included in a Business Profile?
A standard Business Profile in Singapore contains:
- Company name and registration number (UEN)
- Entity type (e.g., Private Limited, Sole Proprietorship)
- Incorporation date and status (active/inactive)
- Registered address
- Principal business activities (SSIC codes)
- Share capital
- Details of shareholders, directors, and company secretary
Q2: How is a Business Profile used in compliance workflows?
It is used to:
- Verify the legal existence of a company
- Confirm identity and roles of key officers and owners
- Assess entity risk as part of KYB onboarding
- Support AML/CFT compliance through document-based verification
Q3: Is the Business Profile a public document?
Yes. In Singapore, anyone can purchase a company’s Business Profile through the BizFile portal. This level of transparency promotes trust, corporate accountability, and ease of verification in cross-border transactions.
Q4: How often should the Business Profile be updated or reviewed?
While ACRA updates the document in real time as filings are made, businesses and compliance teams should obtain a fresh copy of the Business Profile during onboarding, annual reviews, or when there is reason to suspect changes in ownership or structure.
