The Corporate Service Providers Act 2024 (“CSP Act”) came into force on 9 June 2025, fundamentally reshaping how corporate service providers in Singapore must operate. If you are a business owner using a corporate secretarial firm, accounting practice, or any provider offering company incorporation, nominee director, or registered office services — you need to know whether your provider is compliant.

This article explains what the CSP Act requires, how to verify your provider’s registration status, and what the consequences are for using an unregistered CSP.

What Is the Corporate Service Providers Act 2024?

The CSP Act introduces a mandatory licensing and oversight regime for all entities that provide corporate services in Singapore. Prior to the Act, corporate service providers operated in a relatively unregulated space. The Act brings them under a formal regulatory framework administered by ACRA, with significant AML/CFT obligations attached.

The Act complements the broader Companies Act reforms and responds to FATF recommendations around the misuse of corporate vehicles for financial crime. It is part of Singapore’s commitment to maintaining its reputation as a well-regulated financial centre.

For the legislative text, see the Singapore Statutes Online for the full Corporate Service Providers Act 2024.

Who Must Register as a CSP?

Any entity that carries on the business of providing any of the following services in or from Singapore must register with ACRA as a Corporate Service Provider:

  • Company incorporation — assisting clients to form or register companies
  • Company secretarial services — including acting as company secretary or providing company secretarial functions
  • Nominee director services — arranging for persons to act as nominee directors “by way of business”
  • Nominee shareholder services — holding shares as nominee on behalf of another
  • Registered office address services — providing a registered office address for a company

This captures a wide range of providers: incorporated secretarial firms, sole-trader corporate service providers, accounting and tax practices that offer incidental corporate services, and even individuals offering nominee director arrangements commercially.

What Must a Registered CSP Have in Place?

Registration with ACRA

Every CSP must be registered with ACRA. ACRA maintains a public register of CSPs which clients can search online. Before engaging any corporate service provider, you should verify their registration on ACRA’s BizFile+ portal.

Registered Qualified Individual (RQI)

Every registered CSP must have at least one Registered Qualified Individual — a person who holds a relevant qualification and has completed mandatory AML/CFT/PF (Proliferation Financing) training as prescribed under the CSP Regulations 2025. The RQI is the responsible person within the CSP who oversees AML/CFT compliance.

AML/CFT/PF Compliance Framework

All registered CSPs are subject to the same AML/CFT/PF obligations that apply to other regulated entities in Singapore, including:

  • Customer due diligence (CDD) and enhanced due diligence for higher-risk clients
  • Suspicious transaction reporting to the Suspicious Transaction Reporting Office (STRO)
  • Record-keeping obligations (minimum five years)
  • Internal policies, controls and procedures for AML/CFT/PF
  • Regular AML/CFT risk assessments

Nominee Director Arrangements Must Flow Through Registered CSPs

A critical change under the CSP Act: since 9 June 2025, nominee director appointments “by way of business” can only be arranged through a registered CSP. If you obtained a nominee director for your Singapore company via an unregistered provider after 9 June 2025, this arrangement does not comply with the law.

Furthermore, the CSP must conduct a fitness-and-propriety assessment before appointing a nominee director on a client’s behalf. Our detailed guide on nominee director requirements in Singapore covers the obligations on both the CSP and the company.

What Are the Penalties for Using an Unregistered CSP?

An entity that carries on the business of providing corporate services without being registered as a CSP commits an offence. On conviction, the unregistered CSP faces:

  • A fine of up to S$50,000, and/or
  • Imprisonment of up to two years
  • A further continuing fine of up to S$2,500 per day during which the offence continues after conviction

While these penalties fall on the unregistered provider, clients who knowingly engage unregistered CSPs may also face regulatory scrutiny. More practically, corporate documents processed by an unregistered provider may be challenged on validity grounds.

How to Verify Your CSP’s Registration

ACRA maintains a searchable register of all registered CSPs. To verify your provider:

  1. Visit ACRA’s BizFile+ portal
  2. Search for your CSP by name or UEN
  3. Confirm their CSP registration status is active
  4. Check that their RQI details are on file

If your provider cannot confirm their CSP registration or does not appear in the ACRA register, you should seek an alternative registered provider immediately.

What Should Clients Ask Their CSP?

Whether you are engaging a new corporate service provider or reviewing an existing relationship, ask the following:

  • Are you registered with ACRA under the Corporate Service Providers Act 2024? What is your CSP registration number?
  • Who is your Registered Qualified Individual and what are their qualifications?
  • Do you have a documented AML/CFT compliance framework?
  • How do you conduct customer due diligence on new clients?
  • Are nominee director arrangements conducted in compliance with the CSP Act?

A reputable, registered CSP should be able to answer all of these questions clearly. Hesitation or inability to provide registration details is a red flag.

The Connection to Director Accountability Changes

The CSP Act does not stand alone. It forms part of a broader package of reforms aimed at strengthening Singapore’s corporate governance and AML/CFT framework. The recent commencement of further provisions under the Corporate and Accounting Laws (Amendment) Act 2025 on 6 May 2026 — including higher director fines and AML disqualification grounds — reinforces the same message: Singapore is raising the bar for corporate accountability at every level, from the company secretary to the boardroom.

Staying compliant requires working with providers who are themselves compliant. Our full Singapore Company Compliance Calendar 2026 sets out all annual filing deadlines and key compliance dates for Singapore companies.

If you need to verify your corporate secretarial arrangements or transition to a fully compliant registered CSP, contact Raffles Corporate Services — a registered Corporate Service Provider operating in full compliance with the CSP Act 2024.

— The Editorial Team, Raffles Corporate Services