Twitter Logo Youtube Circle Icon LinkedIn Icon

Publishing firms

Legal Developments worldwide

UNIQUE ENTITY NUMBER (“UEN”) BRINGS CONVENIENCE TO ENTITIES

March 2009 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The Ministry of Finance (the “MOF”) issued a press statement announcing that from 1 January 2009, all entities that are registered in Singapore, such as businesses, local companies, limited liability partnerships (LLPs), societies, representative offices, healthcare institutions and trade unions, will have a Unique Entity Number (UEN) as its identification number. This shall be used for correspondence and interaction with government agencies.


UEN shall be for registered entities as NRIC is for Singapore citizens. UEN will replace all other identification numbers issued to them by different government agencies. Entities will enjoy the convenience of having a single identification number for interaction with the Government.

From 1 January 2009, 51 government agencies will use UEN to interact with entities (both over-the-counter and online interactions). The Accounting and Corporate Regulatory Authority (ACRA), the Central Provident Fund Board (CPFB), the Inland Revenue Authority of Singapore (IRAS) and the Singapore Customs are amongst the 51 agencies using UEN from 1 January 2009. Besides, all other government agencies will use UEN from 1 July 2009.

No change in Identification Number for Businesses and Local Companies


Businesses and local companies constitute 85% of all registered entities in Singapore. These two entity-types currently registered with the Accounting and Corporate Regulatory Authority (ACRA) will retain their ACRA Registration Number as their UEN, in order to minimise the impact of the implementation of UEN on entities.

Issuance of UEN


All new entities which are formed from 1 January 2009 will be issued with the UEN at registration.

 

Other than businesses and local registered companies, all other registered entities, such as LLPs, foreign companies, societies and management corporations, will be issued with a new UEN. From August to October 2008, these entities will be informed, via post, of their UEN directly by the government agencies that register or oversee them.


As LLPs are required by legislation to display their LLP registration number on their official stationery, they will need to change to UEN at their next print of the stationery or by 1 January 2010, whichever is earlier.

Entities can visit the UEN website (www.uen.gov.sg) and MOF website (www.mof.gov.sg) for more information about UEN.

Loo & Partners LLP  mail@loopartners.com.sg 

www.loopartners.com.sg