In forceUpdated to 9 Jun 2025

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Corporate Service Providers Act 2024 · Updated to 9 Jun 2025 · Part 2 · Regulation of Provision of Corporate Services

7. No carrying on business of providing corporate services without registration

(1)

A person must not carry on a business in Singapore of providing any corporate service unless the person is a registered corporate service provider for that type of corporate service.

(2)

An accounting entity that carries on a business in Singapore of the corporate service of carrying out any designated activity in relation to the provision of any accounting service by the accounting entity, is treated as registered under section 8 as a registered corporate service provider for that type of corporate service for the purposes of this Act, and continues to be so treated until the accounting entity’s deemed registration is suspended or cancelled under section 18(2) or 19(2) or (3).

(3)

Despite anything in the Accountants Act 2004, an accounting entity is not authorised to carry out any designated activity in relation to the provision of any accounting service by the accounting entity if its deemed registration as a registered corporate service provider is suspended or cancelled under section 18(2) or 19(2) or (3).

(4)

A person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $2,500 for every day or part of a day during which the offence continues after conviction.

Terms defined in this Act

accounting entity
Defined · s 2
“accounting entity” means —(a)an accounting corporation;(b)an accounting firm;(c)an accounting limited liability partnership; or(d)a public accountant who is registered under section 8 of the Business Names Registration Act 2014 as the sole proprietor of a business in providing public accountancy services;
Open s 2
accounting service
Defined · s 3
“accounting service” means any of the following services:(a)financial accounting service;(b)internal audit service;(c)management accounting service;(d)taxation service;
Open s 3
corporate service
Defined · s 2
“corporate service” means any of the following services:(a)forming, on behalf of another person, a corporation or other legal person;(b)acting, or arranging for another person to act —(i)as a director or secretary of a corporation;(ii)as a partner of a partnership; or(iii)in a similar capacity in relation to other legal persons;(c)providing a registered office, business address, correspondence or administrative address or other related services for a corporation, partnership or other legal person;(d)acting, or arranging for another person to act, as a nominee shareholder on behalf of any corporation, other than a corporation whose securities are listed on an approved exchange within the meaning of section 2(1) of the Securities and Futures Act 2001;(e)carrying out any designated activity in relation to the provision of any accounting service;(f)carrying out an ACRA transaction with the ACRA Registrar using the electronic transaction system —(i)on behalf of another person; or(ii)for one or more companies as a secretary of each of those companies;
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designated activity
Defined · s 2
“designated activity” means the preparation to carry out or the carrying out of transactions for a customer concerning any of the following activities:(a)buying or selling of real estate;(b)management of client money, securities or other assets;(c)management of bank, savings or securities accounts;(d)organisation of contributions for the creation, operation or management of corporations;(e)creation, operation or management of legal persons or legal arrangements, or buying and selling of business entities;
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registered corporate service provider
Defined · s 2
“registered corporate service provider” means a corporate service provider who is registered under this Act, and includes —(a)a deemed registered corporate service provider; and(b)a person who is treated under section 42(3) as registered under section 8 as a registered corporate service provider;
Open s 2
registration
Defined · s 2
“registration” means registration of a registered corporate service provider or registered qualified individual, as the case may be;
Open s 2