Amendments to Singapore's Companies Act

1. All Singapore Registered companies maintain a Register of Controllers. In practical terms this means disclosing in the company’s statutory records, maintained and housed by your Company Secretary, the details of the Ultimate Beneficial Owners.
2. Furthermore, if your company utilises the service of a nominee director(s) their nominee status and their particulars must be disclosed in the  company’s statutory records.

The purpose of these changes is to provide a greater level of transparency as to the ownership and control of companies in line with continued efforts to improve anti money laundering controls.

For more information regarding these changes or the Singapore Companies Act in general please contact our Corporate Secretarial team.