Implementation of a Central Register of Controllers (“ROC”)-Pembentukan Syarikat_Pendaftaran Cap Dagang_Perkhidmatan Cukai - Akauntan Bertauliah Hong Kong

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Implementation of a Central Register of Controllers (“ROC”)

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Since 31 March 2017, companies, foreign companies and Limited Liability Partnerships (unless exempted) are required to keep a register of registrable controllers (“RORC”) either in their register office address or at the office of their authorised filing agent. Registrable Controller are commonly known as the beneficial owners of the entities.

What are the new requirements under the implementation of a Central ROC?

With effect from 30 July 2020, in addition to keeping a RORC at their end, entities will have to lodge the same information in their RORC with Accounting and Corporate Regulatory Authority of Singapore (“ACRA”)’s central ROC.

What information must be lodged with ACRA?

For controller who are individuals:

1.	Full name;
2.	Aliases, if any;
3.	Residential address;
4.	Nationality;
5.	Identity card number or passport number;
6.	Date of birth;
7.	Date of becoming a controller; and
8.	Date of cessation as a controller, if applicable.

For controller who are corporate entities:

1.	Name;
2.	Unique entity number, if any;
3.	Address of registered office;
4.	Legal form of the corporate controller, if applicable;
5.	Jurisdiction where the corporate controller is formed of incorporated and under which law, if applicable;
6.	Name of authority in which the corporate controller is formed or incorporated, if applicable;
7.	Identification number or registration number issued to the corporate controller when it was formed or incorporated, if applicable;
8.	Date of becoming a controller; and
9.	Date of cessation as a controller, if applicable.

How can the entities lodge the information with ACRA?

The entities can instruct and authorise the Registered Filing Agent to perform this lodgement for them with ACRA. Alternatively, they can lodge the RORC information on their own as a position holder (i.e. directors and secretaries of company/partners and managers of LLPs).

When is the deadline to lodge the RORC information with ACRA?

The deadline for entities to lodge the RORC information with ACRA is on 31 March 2021.

What should the entities do if there are subsequent changes to their RORC information?

If there is any update to the controllers’ information, entities must lodge the change with ACRA within two (2) business days after updating the information on their RORC at their end.

What is the penalty for failing to lodge a RORC information with ACRA?

The maximum penalty for non-compliance is S$5,000.00. This is similar to the existing penalty if companies fail to file annual returns.