International governance: Singapore’s Companies Act

Singapore is still among the least complex Asian countries for business compliance, despite a change in its ranking from last year in Global Benchmark Complexity Index. Recent regulatory amendments have pushed the country up 17 places to 42nd position and these changes are expected to make the legal and regulatory environment more favourable. Phase one legislative changes were implemented on 1 July 2015, followed by phase two on 3 January 2016. Alongside phase two was the launch of Bizfile, a newly revamped business filing and information portal maintained by the Accounting and Corporate Regulatory Authority of Singapore (ACRA).

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