For decades, Singapore has been a safe harbour for global entrepreneurs: a city-state with a straightforward tax regime, near-frictionless digital administration, and political stability. Until recently, many founders and investors treated Singapore companies as “plug-and-play” structures, which could be incorporated online and run entirely from overseas.
But between 2024 and 2025, Singapore introduced a series of reforms that reshape how foreigners can incorporate, manage, and maintain companies if they do not reside in the country. These changes, from transparency rules to tighter oversight of service providers, require a more structured approach from non-resident business owners.
Rising Transparency: Controllers, Nominees, and Registers
One of the most important shifts came with the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Act 2024, which entered into force in June 2025. Until then, companies had a grace period to update their registers of controllers or nominee shareholders. Now, updates must be made immediately.
For an offshore founder, this matters because nominee directorships and shareholder arrangements—often used when the actual owner lives abroad—are now under closer scrutiny. Registers must be accurate at all times, and service providers handling these responsibilities are legally obliged to ensure compliance. This fits into Singapore’s broader goal: aligning with global anti-money laundering (AML) standards and avoiding reputational risk after a series of regional scandals.
Corporate Service Providers: From Trusted Partners to Regulated Gatekeepers
Running a company from abroad usually means relying on a Corporate Service Provider (CSP). These firms provide the local address, the nominee director, and the secretary that every Singapore company needs.
As of June 2025, however, CSPs themselves became regulated under the Corporate Service Providers Act 2024. Every CSP must now register with ACRA, and by December 2025, operating with an unregistered provider will expose companies to penalties. For remote business owners, this makes the choice of provider critical. A nominee director or secretary is no longer just an administrative formality—they are bound by statutory duties, and missteps can create liability for the beneficial owner as well.
Employment Rules: End of “EOR Shortcuts”
Another area of change affects foreign entrepreneurs who want staff in Singapore. Until recently, many overseas founders used Employer of Record (EOR) services, which allowed them to employ staff under a third party’s entity. In March 2025, Singapore banned this model: only a locally registered company can now sponsor a work pass.
The implication is clear. If you plan to hire in Singapore, you cannot avoid incorporation. Remote management remains possible, but the employment structure must rest on a compliant local entity, rather than an outsourced arrangement.
Taxation in the BEPS 2.0 Era
Singapore’s tax regime—17% flat corporate tax, exemptions for startups, and a territorial system—remains a magnet for investors. But from 2025, new obligations apply to multinational enterprises under the OECD’s BEPS Pillar Two framework. Groups with global revenues above €750 million are subject to a 15% minimum effective tax rate, enforced through mechanisms like the Domestic Top-up Tax.
This change will not affect small or mid-sized businesses run remotely from Singapore. But for investors managing holding structures or cross-border subsidiaries, the days of assuming Singapore automatically guarantees the lowest effective tax rate are over. Board meetings held in Singapore, substance in the form of local directors, and demonstrable decision-making in the city are increasingly important to preserve tax residency and treaty benefits.
Wealth, Residency, and the Family Office Boom
For high-net-worth entrepreneurs, Singapore has introduced additional positive changes.The Global Investor Programme (GIP) has been streamlined: qualifying foreign entrepreneurs can now achieve permanent residency within 9–12 months, compared to longer timelines in the past.
At the same time, the Monetary Authority of Singapore (MAS) shortened the waiting period for family office tax incentive eligibility from twelve months to three, making it far easier for billionaires to set up operations. Private banks, too, have been asked to simplify account opening for family offices.
For those managing a business from abroad, these developments open two paths: continue to run operations remotely with careful compliance, or formalise a deeper presence through residency and family office structures.
Practical Realities of Remote Management
So, how does all this come together in practice? A European tech founder incorporating in Singapore today will still find the process fast and digital. Yet, instead of relying on a low-cost agent, she must ensure her Corporate Service Provider is ACRA-registered and able to update registers instantly. If she hires Singapore-based engineers, she must sponsor their passes under her own company. And if she wants to benefit from double taxation agreements, she will likely need to hold board meetings in Singapore to prove central management is based there.
First, the good news: incorporation remains straightforward and digital. Applications are filed through BizFile+, approval can be obtained in as little as one day, and all statutory records can be maintained online. But the day-to-day reality of remote management is no longer about “set and forget.” To stay compliant and tax-efficient, you need to follow certain practices.
1. Choosing the Right Corporate Service Provider (CSP)
2. Structuring Governance for Tax Residency
3. Managing Employment Remotely
4. Banking and Financial Controls
5. Accounting, Audit, and Compliance
6. Building Substance Without Relocating
Virtual offices are no longer enough. Regulators and banks increasingly want to see operational presence.
Substance options include:
7. Wealth and Residency Strategy
Conclusion: Singapore Remains Open But on Stricter Terms
Singapore has not closed its doors to offshore founders. On the contrary, it remains one of the most reliable jurisdictions for running a global business. But the message of 2024–2025 is clear: transparency, substance, and proper governance now matter more than ever.
If you want to manage your Singapore company from abroad, you can still do so successfully. You just need the right partners, updated compliance processes, and an awareness that what used to be optional — like accurate controller registers or local board meetings — is now mandatory. In return, you gain access to one of the most sophisticated financial and business ecosystems in the world.
NB! The information provided in this article is for general informational purposes only and does not constitute legal advice. While we strive to ensure the content is accurate and up-to-date, it should not be relied upon as a substitute for professional consultation. For personalized advice or assistance with legal matters, please contact our specialists directly.
But between 2024 and 2025, Singapore introduced a series of reforms that reshape how foreigners can incorporate, manage, and maintain companies if they do not reside in the country. These changes, from transparency rules to tighter oversight of service providers, require a more structured approach from non-resident business owners.
Rising Transparency: Controllers, Nominees, and Registers
One of the most important shifts came with the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Act 2024, which entered into force in June 2025. Until then, companies had a grace period to update their registers of controllers or nominee shareholders. Now, updates must be made immediately.
For an offshore founder, this matters because nominee directorships and shareholder arrangements—often used when the actual owner lives abroad—are now under closer scrutiny. Registers must be accurate at all times, and service providers handling these responsibilities are legally obliged to ensure compliance. This fits into Singapore’s broader goal: aligning with global anti-money laundering (AML) standards and avoiding reputational risk after a series of regional scandals.
Corporate Service Providers: From Trusted Partners to Regulated Gatekeepers
Running a company from abroad usually means relying on a Corporate Service Provider (CSP). These firms provide the local address, the nominee director, and the secretary that every Singapore company needs.
As of June 2025, however, CSPs themselves became regulated under the Corporate Service Providers Act 2024. Every CSP must now register with ACRA, and by December 2025, operating with an unregistered provider will expose companies to penalties. For remote business owners, this makes the choice of provider critical. A nominee director or secretary is no longer just an administrative formality—they are bound by statutory duties, and missteps can create liability for the beneficial owner as well.
Employment Rules: End of “EOR Shortcuts”
Another area of change affects foreign entrepreneurs who want staff in Singapore. Until recently, many overseas founders used Employer of Record (EOR) services, which allowed them to employ staff under a third party’s entity. In March 2025, Singapore banned this model: only a locally registered company can now sponsor a work pass.
The implication is clear. If you plan to hire in Singapore, you cannot avoid incorporation. Remote management remains possible, but the employment structure must rest on a compliant local entity, rather than an outsourced arrangement.
Taxation in the BEPS 2.0 Era
Singapore’s tax regime—17% flat corporate tax, exemptions for startups, and a territorial system—remains a magnet for investors. But from 2025, new obligations apply to multinational enterprises under the OECD’s BEPS Pillar Two framework. Groups with global revenues above €750 million are subject to a 15% minimum effective tax rate, enforced through mechanisms like the Domestic Top-up Tax.
This change will not affect small or mid-sized businesses run remotely from Singapore. But for investors managing holding structures or cross-border subsidiaries, the days of assuming Singapore automatically guarantees the lowest effective tax rate are over. Board meetings held in Singapore, substance in the form of local directors, and demonstrable decision-making in the city are increasingly important to preserve tax residency and treaty benefits.
Wealth, Residency, and the Family Office Boom
For high-net-worth entrepreneurs, Singapore has introduced additional positive changes.The Global Investor Programme (GIP) has been streamlined: qualifying foreign entrepreneurs can now achieve permanent residency within 9–12 months, compared to longer timelines in the past.
At the same time, the Monetary Authority of Singapore (MAS) shortened the waiting period for family office tax incentive eligibility from twelve months to three, making it far easier for billionaires to set up operations. Private banks, too, have been asked to simplify account opening for family offices.
For those managing a business from abroad, these developments open two paths: continue to run operations remotely with careful compliance, or formalise a deeper presence through residency and family office structures.
Practical Realities of Remote Management
So, how does all this come together in practice? A European tech founder incorporating in Singapore today will still find the process fast and digital. Yet, instead of relying on a low-cost agent, she must ensure her Corporate Service Provider is ACRA-registered and able to update registers instantly. If she hires Singapore-based engineers, she must sponsor their passes under her own company. And if she wants to benefit from double taxation agreements, she will likely need to hold board meetings in Singapore to prove central management is based there.
First, the good news: incorporation remains straightforward and digital. Applications are filed through BizFile+, approval can be obtained in as little as one day, and all statutory records can be maintained online. But the day-to-day reality of remote management is no longer about “set and forget.” To stay compliant and tax-efficient, you need to follow certain practices.
1. Choosing the Right Corporate Service Provider (CSP)
- Do not use unregistered agents. Since June 2025, only ACRA-registered CSPs may provide incorporation, nominee director, and secretarial services.
- Checklist for selection: confirm registration number with ACRA, ask about their process for updating controller registers immediately (now mandatory), and request clarity on liability coverage for nominee directors.
- Tip: build a relationship with a CSP that offers not only compliance but also accounting and tax services — this reduces fragmentation and ensures consistency.
2. Structuring Governance for Tax Residency
- Hold annual board meetings in Singapore. To secure tax residency (needed for treaty benefits), at least one major meeting should be physically held in Singapore, ideally with directors attending in person.
- Document decision-making. Keep minutes that show strategic decisions — not just rubber-stamping paperwork — are taken locally.
- Practical workaround: if you cannot attend frequently, appoint one independent Singapore-resident director with enough expertise to legitimately participate in management decisions.
3. Managing Employment Remotely
- Forget EOR shortcuts. As of March 2025, overseas entities can no longer use Employer of Record providers to sponsor work passes.
- If hiring locally: you must use your own Singapore company as the employer of record. This means payroll, CPF contributions (for locals), and EP/S Pass sponsorships must flow through your entity.
- If hiring remotely: you can still engage global contractors outside Singapore, but contracts must be compliant with foreign labour rules.
- Tip: If you need flexibility, use a hybrid structure: core staff employed under your Singapore company, peripheral contractors engaged abroad.
4. Banking and Financial Controls
- Initial visit may be required. Many banks still require the beneficial owner to appear once for KYC. Factor in one short trip during incorporation.
- Ongoing operations are seamless. DBS, UOB, and OCBC all support digital banking platforms, multi-currency accounts, and corporate cards.
- Fintech alternatives: Revolut Business, Airwallex, and Wise provide additional cross-border payment tools, useful if your clients are mostly outside Singapore.
5. Accounting, Audit, and Compliance
- Annual filing deadlines are strict. Missing annual returns or tax filings attracts penalties. A remote owner should set automated reminders and outsource to a local accountant.
- Audit requirements: companies above S$10m turnover or S$10m assets must undergo annual audits, which can be conducted by Singapore-based firms without your presence.
- Practical note: if your business is small, engage a CSP that bundles bookkeeping with statutory filings. For larger groups, use a Big Four or mid-tier audit firm with regional experience.
6. Building Substance Without Relocating
Virtual offices are no longer enough. Regulators and banks increasingly want to see operational presence.
Substance options include:
- leasing co-working space with actual staff desks,
- maintaining a part-time local director actively involved in decisions,
- appointing a Singapore-based CFO or compliance officer.
- Tax planning tip: even a small but real team in Singapore strengthens your claim to treaty benefits and reduces the risk of being taxed elsewhere.
7. Wealth and Residency Strategy
- If long-term presence is likely: consider applying under the Global Investor Programme (GIP) to secure permanent residency within 9–12 months.
- If you are UHNW: explore family office structures; MAS has cut the tax incentive waiting period from 12 months to 3, making Singapore one of the easiest global hubs to manage family wealth.
- Why this matters: family office structures also give credibility to your Singapore presence, which helps your business case when regulators examine “management and control.”
Conclusion: Singapore Remains Open But on Stricter Terms
Singapore has not closed its doors to offshore founders. On the contrary, it remains one of the most reliable jurisdictions for running a global business. But the message of 2024–2025 is clear: transparency, substance, and proper governance now matter more than ever.
If you want to manage your Singapore company from abroad, you can still do so successfully. You just need the right partners, updated compliance processes, and an awareness that what used to be optional — like accurate controller registers or local board meetings — is now mandatory. In return, you gain access to one of the most sophisticated financial and business ecosystems in the world.
NB! The information provided in this article is for general informational purposes only and does not constitute legal advice. While we strive to ensure the content is accurate and up-to-date, it should not be relied upon as a substitute for professional consultation. For personalized advice or assistance with legal matters, please contact our specialists directly.
How we can help:
Company Incorporation & Business Setup – We assist businesses with company registration, structuring, and licensing in Singapore, ensuring full compliance with ACRA and MAS regulations.
Corporate Tax & Compliance Advisory – We help businesses leverage corporate income tax rebates, deductions, and incentive schemes, ensuring tax efficiency and compliance
Regulatory & Licensing Assistance – We guide businesses through the process of obtaining sector-specific licenses and ensuring compliance with MAS, IRAS, and other regulatory bodies, minimizing operational risks.
Enterprise Financing & Grant Support – We help businesses access Enterprise Financing Scheme (EFS), Private Credit Growth Fund, and SkillsFuture grants, aligning funding opportunities with business growth strategies.
Company Incorporation & Business Setup – We assist businesses with company registration, structuring, and licensing in Singapore, ensuring full compliance with ACRA and MAS regulations.
Corporate Tax & Compliance Advisory – We help businesses leverage corporate income tax rebates, deductions, and incentive schemes, ensuring tax efficiency and compliance
Regulatory & Licensing Assistance – We guide businesses through the process of obtaining sector-specific licenses and ensuring compliance with MAS, IRAS, and other regulatory bodies, minimizing operational risks.
Enterprise Financing & Grant Support – We help businesses access Enterprise Financing Scheme (EFS), Private Credit Growth Fund, and SkillsFuture grants, aligning funding opportunities with business growth strategies.