🔹 Definition
A Certificate of Good Standing is an official document issued by a government authority—typically a corporate registry such as Singapore’s Accounting and Corporate Regulatory Authority (ACRA) or a Secretary of State in the U.S.—to confirm that a company is legally registered, active, and in compliance with all regulatory filing requirements as of the issuance date.
The certificate serves as proof that the entity exists and is authorized to do business in its jurisdiction. It is often required for corporate banking, investment, cross-border transactions, mergers and acquisitions, or regulatory compliance purposes such as Know Your Business (KYB) or Customer Due Diligence (CDD).
🔹 Frequently Asked Questions (FAQs)
Q1: What information is included in a Certificate of Good Standing?
The certificate typically includes:
- Legal name of the entity
- Registration or incorporation number
- Jurisdiction of incorporation
- Confirmation that the entity is in good standing as of the issue date
- Statement that the company has no outstanding compliance breaches or overdue filings
Q2: When is a Certificate of Good Standing required?
Common use cases include:
- Opening or maintaining a corporate bank account
- Applying for business licenses or permits
- Participating in tenders or government contracts
- Expanding operations into another jurisdiction
- Proving legal status during due diligence or audits
Q3: How do you obtain a Certificate of Good Standing?
In Singapore, it can be requested through the BizFile+ portal. In other countries, it may be requested from the relevant Secretary of State or corporate registry. A fee is usually charged, and processing time may vary.
Q4: Does the certificate expire?
The certificate reflects the status of the company at a specific point in time. While it doesn’t expire per se, most institutions require a copy issued within the last 3 to 6 months to ensure current compliance.
