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Choose the Right Partner to Stay Ahead in Your Business Planning

From June 9, 2025, Singapore will implement a comprehensive reform in company registration with the enforcement of the Corporate Service Providers Act 2024. All corporate service providers (CSPs) must be registered with the Accounting and Corporate Regulatory Authority (ACRA), undergoing stringent verification processes such as video identification, anti-money laundering due diligence, and director background checks. CSPs are entering a “strong regulatory era.” Although this reform targets service providers, it directly impacts every individual and business operating or planning to register a company in Singapore.

What Is a CSP and Why Should You Care?

Corporate Service Providers (CSPs) are professional entities assisting clients with company registration in Singapore and providing nominee directors/shareholders, company secretarial services, registered office addresses, tax filing, and related accounting services.

Risks Businesses May Face Under the New Rules:

• Service Provider Qualification Risk: After June 9, only ACRA-registered CSPs can legally provide corporate services. Your current provider may suddenly become unavailable if unlicensed.
• Registration Compliance Risk: Enhanced director background checks and anti-money laundering due diligence mean errors by CSPs may cause company registration rejection or blacklisting.
• Operational Risk: Annual filings and ongoing compliance must meet the new standards or risk penalties and account freezes.

Core Regulatory Changes and Their Impact on Your Business

The new regulation strengthens financial supervision to combat money laundering, large-scale illicit fundraising, and terrorist financing. The stricter compliance standards bring significant changes for Singapore-registered companies and their service providers.

More Standardized Company Registration and Enhanced Corporate Reputation

The reform mandates that all corporate service providers must be registered and licensed by ACRA, subject to comprehensive supervision. This ensures your partners are rigorously vetted, minimizing legal risks caused by unqualified or non-compliant providers and guaranteeing your company’s registration and operations remain compliant and transparent.

Enhanced Identity Verification for Secure and Efficient Business Handling

The regulation requires real-time video calls during incorporation, management changes, ownership transfers, or shelf company sales when CSP clients are not physically present. The video call must include at least one proposed director (excluding nominee directors), one member with 50% or more voting rights, or the authorized representative of a corporate member. Screenshots of the video call must be preserved as evidence.

For appointments where directors cannot attend in person, CSPs must verify the director’s consent to serve and ensure the director personally signs the prescribed statutory form (Form 45), retaining a copy. Proxy signatures are not allowed. These measures protect shareholder rights and improve transparency and security in governance.

Safer Business Environment and Stronger Investment Protection

If CSPs outsource customer due diligence (CDD), they may only engage licensed lawyers, financial institutions regulated in Singapore, public accountants, or entities within the same ownership group. CSPs remain fully responsible for compliance.

This restriction ensures CDD is carried out by qualified professionals, enhancing accuracy and completeness while reducing risks from substandard outsourcing. This strengthens Singapore’s regulatory environment, providing investors with a safer, more traceable compliance framework that lowers legal risks.

More Professional Director Arrangements and Improved Corporate Governance

Only licensed CSPs may arrange nominee directors on a commercial basis. Unauthorized individuals acting as nominee directors face fines up to SGD 10,000. CSPs must ensure nominee directors are suitable candidates, conducting appropriate qualification checks.

SIG Global Advantages

Official Credentials and Compliance Assurance

SIG Global is a licensed CSP certified by ACRA and an official partner of the Singapore Economic Development Board (EDB). These dual endorsements ensure all services strictly follow regulatory standards, establishing a solid compliance foundation for your business.

Experienced Compliance Team

Our expert team offers full-cycle support from document pre-screening to company registration, guaranteeing compliance with the new regulations while delivering efficient and reliable service.

Multilingual and Standardized Verification

We provide standardized video verification in compliance with the regulations, supported by a multilingual team to overcome language barriers, ensuring smooth and traceable identity verification.

Robust Due Diligence Network

SIG Global collaborates with top Singapore law firms, banks, and financial institutions to offer professional and efficient due diligence services, supported by standardized documentation for streamlined compliance.

Elite Director Pool

We maintain an exclusive database of carefully vetted nominee directors with expertise across finance, technology, and trade, ensuring precise matching for your business needs.

SIG Global — Your Trusted Partner for a Successful Singapore Business Journey

As an ACRA-licensed CSP, SIG Global operates from Singapore and across key Asian markets including Japan, Malaysia, and major Chinese cities such as Suzhou, Guangzhou, and Beijing. We provide a comprehensive international service network grounded in local expertise.

Beyond Registration: Full-Cycle Compliance Management

Our one-stop services include:

• Company registration in Singapore, Malaysia, Japan, with priority bank account opening channels;
• Tax planning, accounting, bookkeeping, as well as corporate finance advisory including mergers, acquisitions, and IPO support;
• Market research and cross-border investment consulting;
• Trademark registration, licensing applications, and other global compliance services.

Partnering with SIG Global means your company benefits from senior compliance experts ensuring every step meets new regulatory standards, securing a strong, trustworthy foundation from inception.

Conclusion: From Regulatory Challenge to Compliance Opportunity

The Corporate Service Providers Act 2024 heralds a new era of regulatory compliance in Singapore’s corporate services sector. Enterprises must prioritize licensed, professional, and compliant CSPs to avoid risks such as service disruption, account freezing, and legal exposure.

SIG Global is committed to helping Chinese enterprises establish and grow in Singapore with policy-level compliance and robust global business support. For inquiries or assistance with Singapore company registration and related services, please contact SIG Global. Our dedicated team will provide comprehensive guidance from policy interpretation to practical execution, enabling your business to succeed locally and globally.