Starting 16 June 2025, the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Act 2024 will take effect. These changes aim to boost corporate transparency and uphold Singapore’s global reputation for regulatory compliance in the fight against money laundering and terrorism financing.
Key Updates All Companies and LLPs Should Note
1. Register of Controllers
- All newly incorporated companies and LLPs must maintain a Register of Controllers from the date of incorporation.
- Controllers are required to verify and confirm the accuracy of their details annually, including providing signed and dated confirmations.
- The period to update controller details has been extended from 2 business days to 7 calendar days.
2. Register of Nominee Directors (for Foreign Companies)
- Foreign companies must maintain a Register of Nominee Directors at their registered office address or at the address of their Corporate Service Provider (CSP).
- This requirement applies from 16 June 2025 onward.
3. ACRA Central Registers
- ACRA will maintain central registers for nominee directors and nominee shareholders.
- Existing companies (including foreign companies) must submit nominee information to ACRA by 31 December 2025.
- New companies and LLPs incorporated or registered from 16 June 2025 onward must submit nominee and controller information upon incorporation or registration.
Amendment Area | New Requirement | Applicability & Deadline |
Register of Controllers | – Mandatory for all newly incorporated companies and LLPs- Must be maintained from date of incorporation | From 16 June 2025 onwards |
– Annual verification of controller information required | Annually | |
– Signed and dated confirmation from controllers on accuracy of info | Required every year | |
– Update controller details within 7 calendar days (previously 2 business days) | Ongoing | |
Register of Nominee Directors | – Foreign companies must maintain a Register of Nominee Directors at their registered office or CSP’s address | From 16 June 2025 onwards |
ACRA Central Registers | – ACRA will maintain central registers for nominee directors and shareholders | Central registry initiated by ACRA |
– Existing companies must file nominee info to ACRA | By 31 December 2025 | |
– New companies/LLPs must file nominee & controller info upon incorporation | Effective from 16 June 2025 |
What Should You Do Now?
If you’re planning to incorporate after 16 June 2025, be prepared to provide complete information on your controllers and nominee directors at the point of registration. For existing companies and LLPs, now is the time to review your current records, prepare for annual controller verifications, and ensure nominee data is ready for submission before the 31 December 2025 deadline.
These changes help reinforce Singapore’s role as a transparent and trusted global business hub.
Need Help Staying Compliant?
Our corporate services team can assist you with:
- Drafting and maintaining Registers of Controllers and Nominee Directors
- Preparing annual controller verification templates and reminders
- Submitting the required information to ACRA central registers in a timely manner
Reach out today to ensure your business is prepared and compliant before the new law takes effect!