On 9 May 2026, the Singapore Standard Industrial Classification 2025 (SSIC 2025) officially took effect. ACRA automatically migrated every company, partnership, and sole proprietorship registered on BizFile+ from the old SSIC 2020 framework to its nearest SSIC 2025 equivalent using official correspondence tables published by the Department of Statistics Singapore (SingStat).

For most businesses, the transition was seamless — the old code maps cleanly to a new one and nothing material changes. But for companies in technology, sustainability, fintech, and health technology, the auto-migration may have produced a code that no longer accurately describes what the business actually does. And in Singapore’s highly compliance-sensitive environment, an inaccurate SSIC code has real consequences: grant eligibility, MOM quota calculations, IRAS sector profiling, and bank KYC reviews all depend on this five-digit number being correct.

This guide explains what SSIC 2025 changed, which sectors are most at risk, how to check your current code, and what to do if a correction is needed.

What Is an SSIC Code and Why Does It Matter?

The Singapore Standard Industrial Classification (SSIC) code is a five-digit number assigned to every registered business entity in Singapore. It classifies your primary business activity according to a standardised taxonomy maintained by SingStat and recorded by ACRA on your BizFile+ entity profile.

Your SSIC code matters for several practical reasons.

Grant eligibility. Enterprise Singapore’s flagship grants — the Productivity Solutions Grant (PSG), Enterprise Development Grant (EDG), and Market Readiness Assistance (MRA) grant — use SSIC codes to determine sector eligibility and funding tiers. Sector-specific enhancements and priority industry designations are tied directly to your SSIC classification. An incorrect code can disqualify your business from schemes it legitimately qualifies for, or incorrectly include it in schemes it does not. Our guide on EDG vs PSG vs MRA grants explains how these schemes work and why SSIC accuracy matters for applications.

MOM foreign worker quotas. The Ministry of Manpower uses SSIC codes to assign companies to sectors and apply the corresponding Dependency Ratio Ceilings (DRCs). A company misclassified under the wrong sector may inadvertently face stricter quota constraints — or, conversely, benefit from more generous quotas than it is entitled to.

IRAS sector profiling. IRAS uses SSIC codes as part of its risk-based compliance framework. An inaccurate classification can produce unexplained anomalies when your tax data is cross-referenced against sector benchmarks.

Bank KYC reviews. Many financial institutions run periodic Know Your Customer reviews that cross-reference your SSIC code with your stated business activities and transaction patterns. A mismatch can prompt queries, delays, or complications with account maintenance.

Licences and regulatory approvals. Certain licences from MAS, the Singapore Food Agency, IMDA, and other bodies require your SSIC code to match the licensed activity. A discrepancy can delay renewals or trigger compliance queries.

What Changed in SSIC 2025?

SSIC 2025 is the most comprehensive revision of Singapore’s industrial classification framework since SSIC 2015. It reflects three structural shifts in Singapore’s economy: the expansion of digital and technology industries, the emergence of sustainability and green economy activities, and the increasing need to distinguish between different types of platform, data, and AI-related businesses.

At the headline level, approximately 58 codes were renumbered, 58 SSIC 2020 codes were dropped entirely, and 26 entirely new codes were created for activities that previously had no dedicated classification. New codes cover AI services and development, digital marketplace platforms, carbon credit trading and advisory, green energy installation, and various sustainability-linked professional services.

The Biggest Structural Change: Section J Split

The most significant structural change in SSIC 2025 is the split of the former Section J (Information and Communications), which previously covered everything from newspaper publishing to software development, into two distinct sections.

The new Section J now covers publishing, broadcasting, and content activities. The new Section K covers telecommunications, computer programming, information technology services, and data activities.

This split has the highest potential to affect companies in the technology, media, and telecoms space. A software development company that was classified under Section J in SSIC 2020 may now fall under Section K. A digital media company that also provides platform technology services may find its primary activity needs to be reclassified.

Other High-Risk Sectors

Green energy and sustainability businesses now have dedicated SSIC 2025 codes for solar energy installation, energy efficiency consulting, carbon services, and related activities. Companies that were previously classified under general electrical contracting or engineering consultancy may now have a more accurate — and potentially more grant-eligible — dedicated code available.

Fintech and digital asset companies now benefit from more precise codes distinguishing payment system operators, digital asset custodians, and marketplace platforms from conventional financial services providers.

Health technology companies involved in telemedicine, health data analytics, and wearable device services have more targeted classifications that distinguish them from traditional healthcare providers or generic software companies.

Was Your Company Auto-Migrated Correctly?

ACRA’s auto-migration used SingStat’s official correspondence tables — a mapping of each SSIC 2020 code to its closest SSIC 2025 equivalent. For companies in stable, well-defined industries, this works well. For companies in evolving, cross-sector, or newly-classified industries, the nearest equivalent may not be the most accurate description of what the business actually does today.

There is also a secondary issue: many companies have not updated their SSIC code since incorporation, even as their business model has evolved. The SSIC 2025 migration has simply carried forward an existing inaccuracy into the new framework. This makes the migration an opportune moment to do a fresh review — not just of whether the auto-migration was technically correct, but whether the code still reflects your company’s primary revenue activity at all.

How to Check Your SSIC Code on BizFile+

The most straightforward way to check your company’s current SSIC 2025 code is through the ACRA BizFile+ portal. Log in using your Singpass or CorpPass credentials, navigate to your entity’s profile, and review the “Primary Activity” and “Secondary Activity” fields. You will see a five-digit SSIC 2025 code alongside its description.

If you need to identify the correct SSIC 2025 code for your business, the full SSIC 2025 directory is searchable on the Department of Statistics Singapore website. You can search by keyword, activity description, or browse by sector to find the most appropriate classification.

How to Correct Your SSIC Code

If your auto-assigned code is inaccurate, you can file a correction directly through BizFile+. The process is as follows: log in via Singpass or CorpPass, navigate to the “Update Business Activity” function, search for the correct SSIC 2025 code, and submit the update. A government filing fee of S$20 applies, and the update takes effect upon ACRA’s approval — typically within one to three business days.

Under the Companies Act, companies are required to notify ACRA within 14 days of any change in their business activities. If the auto-assigned code is inaccurate, the obligation to correct it arises from the general duty to maintain accurate company information on the register. Do not delay — the longer an incorrect code sits on the public register, the more it may affect pending grant applications, licence renewals, or MOM quota calculations.

The Role of Your Company Secretary

Your company secretary has an ongoing responsibility to ensure that your company’s registered information is accurate and up to date. If you are uncertain which SSIC 2025 code is most appropriate for your business activities, your company secretary can advise on the correct classification and file the update on your behalf. For companies with complex or multi-faceted activities spanning more than one SSIC category, it may be worth confirming the classification before submitting — particularly if any grant applications are in progress or planned.

Practical Checklist for Directors and Company Secretaries

Step 1. Log in to BizFile+ and note your current SSIC 2025 code and description — both primary and secondary activity codes if applicable.

Step 2. Ask honestly: does this description accurately capture what the business primarily does and primarily earns revenue from today? If the business has evolved since incorporation, the original code may have been an approximation that no longer fits.

Step 3. Cross-check against any pending or planned grant applications. Review the SSIC eligibility requirements for PSG, EDG, MRA, SFEC, and any sector-specific schemes you intend to apply for via Enterprise Singapore’s website. Check that your current code is in scope.

Step 4. If a correction is needed, file it promptly through BizFile+. A S$20 update is a small cost compared to a rejected grant application or a bank KYC complication.

Step 5. Update your internal records. Ensure your accounting software, bank KYC profiles, and regulatory filings reflect the correct updated code. Some financial institutions run automated SSIC-matching checks as part of their periodic client reviews.

This is also a good moment to review your company’s compliance calendar more broadly and confirm all statutory filing obligations are current for 2026.

Summary

SSIC 2025 took effect on 9 May 2026, with ACRA auto-migrating all entities. Most companies will be correctly migrated. Those in technology, green energy, fintech, health technology, and digital media are most at risk of receiving an imprecise auto-assigned code. Checking is free; correcting costs S$20. The consequences of leaving an inaccurate code in place — denied grants, quota complications, KYC delays — are disproportionately costly. Check your code on BizFile+ today.

For the latest Singapore business news and regulatory updates, there are useful resources available for directors staying current with ACRA changes.

Beyond compliance, sound financial planning and business investment decisions are equally important for business owners navigating Singapore’s regulatory environment.

If you need legal advice on your ACRA compliance obligations, we can point you in the right direction.

To speak with the team at Raffles Corporate Services, you can email [email protected] or call, SMS, or WhatsApp +65 8501 7133. We are happy to assist with any queries.

— The Editorial Team, Raffles Corporate Services