Singapore’s New Central Non-Public Register of Controllers of Companies - July 2020
Since 31 March 2017, Singapore entities have had to maintain at their Registered Office a register of registrable controllers (“RRC”) of any individual or corporate entity that either has significant interest or significant control over such entities.
From July 2020 onwards, Singapore entities are now required to lodge this information with the Accounting and Corporate Regulatory Authority of Singapore (“ACRA”). The information on the RRCs lodged with ACRA will not be accessible to members of the public. However, it will be accessible online by public agencies in Singapore. Any changes need to be lodged within two days and the maximum penalty for non-compliance with the RRC requirement is S$5,000.
Update: since the original publication of this note, the deadline for filing RRCs with ACRA has been extended to 30 June 2021.