A person who wishes to be registered as a qualified individual will need to be one of the following:

  • An advocate and solicitor;
  • A public accountant registered under the Accountants Act;
  • A member of the Institute of Singapore Chartered Accountants;
  • A member of the Association of International Accountants (Singapore Branch);
  • A member of the Institute of Company Accountants, Singapore;
  • A member of the Chartered Secretaries Institute of Singapore; or
  • a corporate secretarial agent; i.e. a person who is carrying on the business of providing corporate secretarial services for one or more companies and has been doing so for at least 3 years in the preceding 5 years; and has been a secretary of a company for at least 3 years in the preceding 5 years.

Other requirements to be satisfied before a person may be registered or renewed as a qualified individual 

ACRA may reject an application in the following circumstances: 
  • If the person has been convicted (whether in Singapore or elsewhere) of any offence involving fraud or dishonesty punishable with imprisonment for 3 months or more; 
  • If he is an undischarged bankrupt, whether in Singapore or elsewhere, or
  • ACRA is otherwise not satisfied that the person he is a fit and proper person to be so registered.

In addition, ACRA shall reject an application if the person’s previous registration as a registered qualified individual had been cancelled as a sanction imposed by ACRA because of either a breach of a term or condition of registration, or a failure to pay a financial penalty imposed because of a breach of such a term or condition, and less than 2 years has elapsed since the date on which the registration was cancelled.

Legal Obligations of a registered qualified individual

From the time of registration or renewal, a registered qualified individual will be required to comply with the legal obligations contained in:

Part VIA of the ACRA (Amendment) Act;

  • The ACRA (Filing Agents and Qualified Individuals) Regulations 2015, including the terms and conditions of registration contained in the Second Schedule of the Regulations; and
  • Breach of these terms and conditions may subject the qualified individual to sanctions imposed by ACRA under Part VIA of the ACRA (Amendment) Act. These sanctions are: cancellation or suspension of registration, restriction of use of the electronic transaction system, financial penalties to $10,000 per breach, and censure. 
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