Singapore remains a popular destination for incorporating a business. The procedure is now more appealing, particularly for foreign founders, because of recent legislative reforms.
How statutory changes are shaping Singaporean business incorporation
Singapore’s dynamic regulatory environment enhances its standing as a central financial hub. The way businesses are incorporated is changing, so it’s crucial for anyone considering establishing a presence in Singapore to stay up to date and ensure compliance.
The 2024 Act Concerning Companies and Limited Liability Partnerships (Various Amendments)
The goal of this regulatory reform, which took effect on June 16, 2025, is to increase transparency in Singapore’s corporate sector.
It is now mandatory for limited liability partnerships (LLPs) and companies to keep a list of registrable controllers. There is no longer a 30-day grace period because this is now a requirement upon incorporation. These new rules require both domestic and international businesses to maintain registers of nominee directors and nominee shareholders.
With these actions, Singapore complies with international anti-money laundering (AML) and counter-terrorism financing (CTF) requirements. In addition to declaring exemption status for all relevant registers, foreign businesses are required to maintain registrations for nominee directors.
Act of 2021 Concerning Corporate Service Providers (CSP)
Recent legislation, including modifications to the Corporate Service Providers Act 2021 and related regulations, is revising and reinforcing Singapore’s CSP regulatory framework in 2025. This reflects Singapore’s ongoing efforts to enhance governance, professional standards, and anti-money laundering and counter-terrorism financing controls.
The most recent revisions to this rule, which take effect on June 9, 2025, require companies offering corporate services in Singapore to register with the Accounting and Corporate Regulatory Authority (ACRA). These companies may therefore need to submit additional paperwork to comply with ACRA’s disclosure requirements.
How has demand increased as a result of these regulations?
Due to these advancements, Singapore has seen a rise in the number of foreign companies establishing a presence there. Singapore’s proactive approach to compliance and openness is valued by clients worldwide. GERAI LTD ensures that your Singaporean company registration meets all current legal requirements.
Singapore is a popular travel destination in Asia due to its well-established infrastructure, strategic location, and stable political environment. The nation is also known for its professional, multilingual workforce, established legal system founded on English common law, and ease of doing business. These elements work together to create a business-friendly atmosphere that encourages expansion, creativity, and facilitates easy access for clients from other countries to both local and international markets.
If you have any questions, please do not hesitate to contact us.
Giorgi Kurtsikidze
https://gerai.co.ukMy mission is to provide client-focused legal solutions and services through flexible, value-driven approaches by leveraging technologies to anticipate the needs of those existing and potential clients I serve in a manner that adheres to the highest standards of excellence and integrity in the field of Business Law.