Corporate Service Providers (“CSP”) Act 2024
The CSP Act and CSP Regulations, which provide further details on the requirements under the CSP Act, will come into effect on 9 Jun 2025.
Key amendments:
- Require all business entities carrying on a business of providing corporate services in and from Singapore to register with ACRA as registered CSPs
- Require all registered CSPs to comply with obligations, including those on anti-money laundering, countering the financing of terrorism and the proliferation of weapons of mass destruction (AML/ CFT/ PF obligations);
- Prohibit persons from acting as nominee directors by way of business unless the appointments are arranged by registered CSPs and they have been assessed as fit and proper by the registered CSPs;
- Require nominee directors’ and nominee shareholders’ nominee status and the identities of their nominators to be disclosed to ACRA; and
- Increase fines pertaining to the register of registrable controllers, register of nominee directors and register of nominee shareholders.
Frequently Asked Questions:
Following the feedback provided on the CSP Regulations in Feb 2025, we are pleased to share with you the Frequently Asked Questions.
Registration Timeline:
For entities or persons that perform corporate services by way of business but are not currently registered with ACRA as a Registered Filing Agent, they will be given a 6-month period until 9 Dec 2025 to register as a CSP.