Transparency in Action: What ACRA’s 2025 Rules Mean for Singapore Businesses

Singapore’s reputation as a trusted global business hub is no accident. It stems from decades of sound governance, fair regulation, and unwavering commitment to transparency. Investors, entrepreneurs, and corporations alike choose Singapore because they know business here is built on trust and accountability.  On 16 June 2025, the Accounting and Corporate Regulatory Authority (ACRA) rolled out a new set of transparency rules under the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Act 2024.

While the changes may appear administrative, they carry significant implications for business owners. The new framework strengthens Singapore’s corporate disclosure regime and aligns with international standards to ensure that the true individuals controlling every entity can be identified swiftly and accurately. 

Key Changes Business Owners Should Know 

1. Register of Controllers (RORC) Required from Day One 

Newly incorporated companies and LLPs must now maintain a Register of Registrable Controllers (RORC) from the date of incorporation or registration. The RORC details must be filed with ACRA via BizFile+ on the same day the entity is registered. Any subsequent changes to controller information must be updated within 7 calendar days (up from the previous 2 business days). All entities must conduct an annual written confirmation with their controllers to verify the accuracy of the recorded information. This ensures that information on ultimate beneficial owners (UBOs) remains up-to-date and accessible for regulatory review. 

2. New Registers of Nominee Directors and Nominee Shareholders 

Both foreign companies registered in Singapore and local companies with nominee arrangements must maintain dedicated registers of nominee directors (ROND) and nominee shareholders (RONS). These registers must identify the nominee and their corresponding nominator. Information will be stored with ACRA but only accessible to law enforcement authorities — protecting privacy while ensuring traceability. Existing companies have until 31 December 2025 to lodge this information with ACRA. This move closes a long-standing transparency gap, ensuring that individuals acting on behalf of others can be identified quickly when necessary. 

3. Substantial Increase in Penalties 

ACRA has raised the maximum fine for non-compliance from S$5,000 to S$25,000 per offence. Entities that fail to maintain or update their registers, or that lodge inaccurate information, risk facing significant penalties and enforcement actions. The message is clear: maintaining accurate ownership and nominee records is not optional — it is a statutory duty. 

4. Alignment with International Standards 

These reforms are part of Singapore’s ongoing efforts to align with the Financial Action Task Force (FATF) standards on beneficial ownership transparency. The goal is to combat money laundering, terrorist financing, and illicit fund flows — safeguarding Singapore’s integrity as a global financial centre. 

The Takeaway for Business L

eaders 

For company directors and shareholders, these updates require immediate action. Compliance must now be embedded from the point of incorporation, not treated as a post-registration task.  Here’s what you should do now: 

• Review your registers — Ensure your RORC, ROND, and RONS are accurate, up-to-date, and signed. 

• Set up an annual review cycle — Verify controller details once a year and retain written confirmations. 

• Work with your corporate service provider — Make sure all filings are submitted through BizFile+ within the new timelines. 

• Understand your exposure — Non-compliance can affect not only regulatory standing but also credibility with banks, investors, and partners. 

The Compliance Wake-Up Call Businesses Can’t Afford to Miss 

Failure to comply with these new obligations carries more than financial risk. Non-compliance can lead to reputational damage, regulatory scrutiny, and operational disruption.  

• Reputational damage: Non-compliance can raise red flags during audits, financing applications, or due diligence checks. 

• Regulatory scrutiny: Persistent breaches may trigger investigations or disqualification of directors. 

• Operational disruption: Inaccurate registers can delay statutory filings and corporate actions.  

In Singapore’s tightly regulated business ecosystem, transparency is synonymous with trust. Keeping your registers accurate and timely isn’t just good governance — it’s a business advantage. 

At K.Merleone Pte Ltd, we view these developments as a positive and necessary step. The updated transparency rules reinforce Singapore’s global reputation while protecting legitimate business owners from being associated with opaque or risky structures.  We strongly encourage every company and LLP to take a proactive approach.

Our team can assist you to:

• Establish and maintain compliant Registers of Controllers, Nominee Directors, and Nominee Shareholders. 

• Implement annual controller confirmation procedures. • File all updates and changes promptly via BizFile+. 

• Conduct a compliance review to ensure your records meet ACRA’s latest standards. 

Singapore’s business ecosystem is built on integrity, and the 2025 transparency rules deepen that foundation. For business owners, staying compliant is more than a legal requirement — it’s a reflection of your company’s credibility and long-term sustainability.  Now is the time to review your registers, update your internal compliance processes, and ensure your filings are in order. Doing so not only avoids penalties — it demonstrates that your business operates with the transparency and professionalism that define Singapore’s success story.