ACRA’s New Corporate Service Providers Act (2025): What Clients Should Check Before Engaging a CSP

Why this matters now

From 9 June 2025, Singapore’s Corporate Service Providers Act 2024 and the CSP Regulations 2025 took effect, creating a formal licensing-style regime for anyone offering incorporation, secretarial and related corporate services. For clients, this raises the bar on who you should hire and the documents you must provide during onboarding.

What changed under the CSP Act

ACRA now requires Corporate Service Providers (CSPs) and their Qualified Individuals (QIs) to be registered, meet fit-and-proper criteria, and comply with detailed AML/CFT, customer due diligence (CDD) and record-keeping standards. Guidance released on 23 June 2025 explains the obligations, exemptions and operational do’s & don’ts for registered CSPs.

Key implications for you as a client:

Your provider must be ACRA-registered.
Expect stronger KYC: ID verification, proof of address, source-of-funds/source-of-wealth where relevant, and screening for sanctions/PEPs.
Tighter record retention and reporting of suspicious transactions, aligned with MAS/ACRA expectations.

What you should verify before appointing a provider

Registration status — Are the CSP and the named Qualified Individual registered with ACRA? Ask for the registration numbers and scope of services covered.
AML/CFT procedures — Do they have written policies for CDD, ongoing monitoring, PEP/sanctions screening, and suspicious transaction escalation?
Data protection & confidentiality — How will your passports, corporate documents and bank letters be stored and accessed?
Service model — Will you get a dedicated manager reachable by phone/WhatsApp/WeChat/email and available for meetings, or only ticket/chat support?
Scope & turnaround — Who drafts board resolutions, prepares filings, liaises with banks, and chases statutory deadlines? What are the SLAs?

How onboarding will feel different in 2025

Because CSPs must evidence compliance, onboarding checklists are now more rigorous:

Identity & control: Passports/IDs, residential addresses, proof of beneficial owners, shareholding charts and video calls.
Business purpose: Nature of activities, expected counterparties, jurisdictions, and anticipated transaction volumes.
Funds/wealth (risk-based): Source of funds for capital injections, group backing, or M&A deals.
Ongoing updates: Periodic refreshes and event-driven CDD when ownership/activities change.

Good firms make this smooth with clear instructions and secure document portals, while ensuring filings stay timely.

Why “service level” matters more than ever

The new rules raise compliance work across the industry. App-only, ultra-low-touch models may not cope well when your case is nuanced (multi-jurisdiction owners, nominee arrangements, licences, bank account opening). A dedicated advisor who knows your history can interpret ACRA’s guidance, structure resolutions correctly, pre-empt bank/IRAS queries, and keep you on side of AML/CFT expectations — saving time and avoiding costly rework. (This is consistent with market commentary on the regime shift.

How we operate under the new regime

Fully registered CSP & QIs — compliant with ACRA’s CSP Act and Regulations.
Dedicated manager, multi-channel access — call, email, WhatsApp, WeChat or meet in person.
Proactive compliance — calendarised reminders for AGM/AR, tax, GST, payroll/CPF, licences.
Banking & KYC support — prepare packs that match banks’ enhanced due-diligence needs.
Integrated services — incorporation, secretarial, nominee director, virtual office, accounting, GST, payroll, trademark registrations, work passes.

What to prepare before you contact us

Clear ownership structure (even if preliminary).
IDs and address proofs for directors/ultimate beneficial owners.
A short business overview: activities, markets, expected flows.
If urgent (tenders/banks), the deadlines you must meet.

We’ll map this to ACRA’s CSP rules and guide you through a clean, compliant setup.

Conclusion: Choose a compliant partner with real support

With ACRA’s new CSP regime in force, picking the right corporate service provider is no longer a price game — it’s about regulatory assurance and responsive human support. We combine both, so you can incorporate, bank and operate without surprises.