Singapore CSP glossary
Every term a Singapore corporate service provider meets in a working day — agencies, filings, governance, shares, compliance and tax — defined in plain English, with its legal basis where we have a verified one.
Note
General information for Singapore CSPs, not legal advice. Statutory bases come from CorpSec AI’s verified citation table, labelled verified or to be confirmed by counsel. Terms with no entry in that table (agencies, portals, practice terms) are defined without a clause number — confirm any specific rule with ACRA or qualified counsel.
Agencies, portals & filings
| Term | What it means | Basis |
|---|---|---|
| ACRA — Accounting and Corporate Regulatory Authority | Singapore’s national company registrar, and (since 2025) the registering and supervising authority for CSPs. | Regulator |
| BizFile+ | ACRA’s online filing portal — where statutory transactions (incorporation, officer changes, annual return, share transactions) are lodged. | ACRA portal |
| UEN — Unique Entity Number | The permanent identifier ACRA issues to every registered entity; used on all filings and official correspondence. | ACRA practice |
| MAS — Monetary Authority of Singapore | The central bank and integrated financial regulator; anchors the national AML/CFT framework. | Regulator |
| IRAS — Inland Revenue Authority of Singapore | The tax authority — corporate tax, ECI, and stamp duty (via e-Stamping). | Tax authority |
| AR — Annual Return | A yearly filing to ACRA confirming a company’s particulars after its financial year end. CorpSec AI computes the date on the compliance calendar. | Companies Act 1967 — exact window to be confirmed by counsel |
| e-Stamping | The IRAS portal for stamping instruments — including share transfers. Duty is 0.2% of consideration or net asset value, whichever is higher; late stamping penalties can reach 4× the duty. | Stamp Duties Act 1929 — verified |
Company, officers & governance
| Term | What it means | Basis |
|---|---|---|
| Director | An officer who manages the company. Must be a natural person, at least 18, of full legal capacity. | section 145(2) of the Companies Act 1967 — verified |
| Resident director | A company must have at least one director ordinarily resident in Singapore (citizen, PR, or eligible pass holder). The floor a resignation must not breach. | section 145(1) of the Companies Act 1967 — verified |
| Company secretary | A required officer with residence in Singapore; the office must not be vacant beyond the statutory period. CSPs often supply the secretary. | section 171(1) of the Companies Act 1967 — vacancy sub-clause to be confirmed by counsel |
| Nominee director | A director who acts on another person’s instructions. Carries the full personal duties of the office; the CSP Act sets capacity and disclosure expectations (including a >50-company threshold). | CSP Act 2024 & Regulations — figures to be confirmed by counsel |
| AGM — Annual General Meeting | The yearly members’ meeting. A private company is exempt if it sends financial statements to members within 5 months of FYE; members may still require one. | section 175A of the Companies Act 1967 — verified |
| EGM — Extraordinary General Meeting | Any general meeting of members that is not the AGM — convened when a decision cannot wait. | Constitution / Companies Act — general |
| s175A exemption | The automatic AGM exemption (in force from 31 Aug 2018) for a private company that sends its financial statements to all members within 5 months of FYE. | section 175A of the Companies Act 1967 — verified |
| Constitution | A company’s governing document (formerly memorandum & articles). Sets internal rules — including the authority for directors’ written resolutions. | Companies Act 1967 |
| Model Constitution | The default constitution prescribed by regulation; regulation 71 is the usual source of authority for a directors’ resolution in writing. | Companies (Model Constitutions) Regulations 2015 — verified |
| Ordinary / special resolution | Members’ decisions — ordinary by simple majority, special by the higher (typically three-quarters) threshold for major matters (e.g. name or constitution change). | Companies Act 1967 — general |
| DRIW — Directors’ Resolution In Writing | A board resolution signed by all directors, as valid as one passed at a meeting. Its authority is the constitution (Model Constitution reg 71), not a Companies Act section. | Constitution / Model Constitution reg 71 — verified |
| Members’ written resolution | A private company’s members may resolve in writing (ss 184A–184G); passed on the date the last required member signs (s184D). | section 184A of the Companies Act 1967 — verified |
Compliance, registers & AML/CFT
| Term | What it means | Basis |
|---|---|---|
| RORC — Register of Registrable Controllers | The register of a company’s beneficial owners. Update internally within 7 days of a controller confirming information; lodge with ACRA’s central register within 2 business days (non-compliance: up to S$5,000). | RORC under the Companies Act 1967 — verified |
| RORD — Register of Directors | A company’s statutory register of its directors and officers (some firms write ROD/RORD interchangeably). Kept current alongside ACRA’s central records via BizFile+. | Companies Act 1967 — confirm the exact register with ACRA |
| Registrable controller | Singapore’s term for a beneficial owner recorded in the RORC — the individual or entity with significant control of a company. | RORC under the Companies Act 1967 — verified |
| UBO — Ultimate Beneficial Owner | The natural person(s) who ultimately own or control a company. In Singapore this maps to the “registrable controller” recorded in the RORC. | AML/CFT & RORC — verified (RORC) |
| PSC — Person with Significant Control | A UK-origin term for beneficial owners. Singapore’s equivalent is the registrable controller / RORC — use that framing locally. | UK concept; SG equivalent = RORC |
| CDD — Customer Due Diligence | Identify and verify each client and its beneficial owners before acting, assess risk, and keep it current. A CSP must complete CDD before providing services. | CSP Act 2024 — verified (mechanics to be confirmed by counsel) |
| EDD — Enhanced Due Diligence | Additional measures for higher-risk clients (PEPs, opaque ownership, higher-risk jurisdictions) — more information, closer monitoring, senior sign-off. | CSP Act 2024 & Regulations — clauses to be confirmed by counsel |
| PEP — Politically Exposed Person | A person entrusted with a prominent public function (and close associates/family) — treated as higher risk, usually triggering EDD. | AML/CFT framework — clauses to be confirmed by counsel |
| STR — Suspicious Transaction Report | A report of suspicion of money laundering or a related offence, filed with the STRO under the CDSA. Filed by the firm’s MLRO — not by software. | CDSA — mechanics to be confirmed by counsel |
| STRO — Suspicious Transaction Reporting Office | The office that receives STRs in Singapore. | CDSA — general |
| CDSA — Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 | Singapore’s primary confiscation-of-benefits statute, under which suspicious transactions are reported. | CDSA 1992 — mechanics to be confirmed by counsel |
| MLRO — Money-Laundering Reporting Officer | The person in a firm responsible for AML/CFT compliance and for filing suspicious-transaction reports. | AML/CFT framework — a firm role |
The CSP regime
| Term | What it means | Basis |
|---|---|---|
| CSP — Corporate Service Provider | A firm that incorporates and administers companies for clients (filing agent, secretary, registered office, sometimes nominee director). Must be registered with ACRA. | Corporate Service Providers Act 2024 — verified |
| CSP Act 2024 | The Corporate Service Providers Act 2024 (in force 9 June 2025). A registered CSP must complete CDD before providing services, keep records ≥ 5 years, and have at least one RQI. | Corporate Service Providers Act 2024 — verified |
| RQI — Registered Qualified Individual | The qualified person answerable for a CSP’s regulated conduct; every CSP needs at least one. The cap on how many CSP firms one RQI serves is ~2 (by firms, not companies). | CSP Act 2024 read with the Regulations — firm cap to be confirmed by counsel |
| RFA — Registered Filing Agent | The earlier ACRA registration for firms lodging documents on others’ behalf; the framework the CSP Act builds on. Registration details are set by ACRA. | ACRA’s prevailing rules — confirm with ACRA / counsel |
| QI — Qualified Individual | The qualified person under the earlier RFA framework, the forerunner of the RQI. Qualification criteria are set by ACRA. | ACRA’s prevailing rules — confirm with ACRA / counsel |
Company lifecycle, tax & dates
| Term | What it means | Basis |
|---|---|---|
| FYE — Financial Year End | The date a company’s financial year ends — the anchor for AGM, annual return and tax deadlines. A financial year must be 6–18 months; changing it is notified to ACRA (approval needed in some cases). | section 198 of the Companies Act 1967 — approval sub-clause to be confirmed by counsel |
| ECI — Estimated Chargeable Income | A company’s estimate of taxable income filed with IRAS, generally within a set window after the FYE. A tax matter, separate from the ACRA annual return. | IRAS practice — confirm current window with IRAS / counsel |
| Striking off | Removing a defunct company from the register — voluntarily (application to ACRA) or by ACRA for prolonged non-compliance. A live resident-director/secretary or unmet obligations can block it. | Companies Act 1967 — confirm criteria with ACRA / counsel |
| Dormant company | A company with no accounting transactions in a period; may qualify for filing simplifications. Exact criteria are set by statute/IRAS. | Companies Act / IRAS — confirm with counsel |
| EPC — Exempt Private Company | A private company with no corporate shareholders and no more than 20 members — often with audit and other simplifications. | Companies Act 1967 — confirm current criteria with counsel |
| Directors’ statement | The statement accompanying the financial statements, signed by at least two directors. | section 201(16) read with the Twelfth Schedule — sub-clause to be confirmed by counsel |
Frequently asked questions
Why do some terms say “to be confirmed by counsel”?
Because we only assert a statutory basis we have verified against the source. Where the rule is settled but the exact sub-clause, figure or current criteria could not be confirmed, we label it and you should confirm it with ACRA or qualified counsel before relying on it in a filing.
What is the Singapore equivalent of a UK “PSC”?
The registrable controller recorded in the Register of Registrable Controllers (RORC). “PSC” (person with significant control) is a UK term; locally the concept is the registrable controller / beneficial owner and the RORC is where it lives.
Is RORD the same as RORC?
No. RORC is the Register of Registrable Controllers (beneficial owners). RORD refers to a company’s register of directors — a different register. Confirm the exact register name and requirement with ACRA.
This is a product guide for CorpSec AI. Where a feature runs on demo data or is not yet released, it is labelled as such. Compliance references are general information for Singapore corporate service providers, not legal advice.