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Accounting and Corporate Regulatory Authority

Corporate Service Providers (CSP) Act to come into effect from 9 June 2025

9 May 2025

Audience

Businesses

Corporate service providers (CSPs)

News Topic

Regulatory updates

Category

Announcement

This article has been migrated from an earlier version of the site and may display formatting inconsistencies.

9 May 2025 

The CSP Act and CSP Regulations, which provide further details on the requirements under the CSP Act, will come into effect on 9 June 2025.

The key proposals are as follows:  

  1. All business entities carrying on a business of providing corporate services1 in and from Singapore need to register with ACRA as registered CSPs; 

  2. All registered CSPs will need to comply with obligations under the CSP Act and CSP Regulations, including those on anti-money laundering, countering the financing of the proliferation of weapons of mass destruction and terrorism financing (AML/ CPF/ CFT obligations); 

  3. Persons acting as nominee directors by way of business will need to be arranged by registered CSPs, after they have been assessed as fit and proper by the registered CSPs; and 

  4. Fines will be introduced for breaches of AML/ CPF/ CFT obligations by registered CSPs and their senior management.

For more information, please click here.

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1 These corporate services include forming of corporations on behalf of other persons; acting or arranging for other persons to act as directors or nominee shareholders; providing registered office or business addresses; carrying out designated activities in relation to the provision of accounting services; and carrying out transactions with ACRA on behalf of other persons or as a secretary of a company by way of business.