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【Cross-Border Tax】SINGAPORE: New restrictions on nominee directors will not apply retrospectively

【Translated by HW Group】

Singapore's finance ministry has introduced the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Bill and the Corporate Service Providers Bill to parliament, following a short consultation in March 2024. The first Bill increases the transparency of beneficial ownership of companies and limited liability partnerships (LLPs), requiring companies and LLPs to keep a register of registrable controllers immediately on incorporation or registration.

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