Transparency is a cornerstone of corporate governance in Singapore. To strengthen this, the Accounting and Corporate Regulatory Authority (ACRA) requires all companies and limited liability partnerships (LLPs) to maintain an up-to-date Register of Controllers (RBO) — also known as the Register of Registrable Controllers.

For many SMEs, this filing obligation is often overlooked or misunderstood. But non-compliance can result in financial penalties and reputational risks.

This guide explains what the RBO is, what information must be filed and maintained, and how SMEs can manage the process efficiently with digital tools like ccMonet.

1. What Is the Register of Controllers (RBO)?

The Register of Controllers is a record of individuals or entities that have “significant control” over a company — typically meaning those who ultimately own or influence it.

Introduced in 2017, this requirement helps prevent misuse of corporate entities for illicit purposes such as money laundering or tax evasion, while improving ownership transparency across Singapore’s business landscape.

All locally incorporated companies, foreign companies, and LLPs must:

1. Identify their controllers;
2. Maintain a Register of Controllers internally; and
3. File this information with ACRA’s Central Register of Controllers (via BizFile+).

2. Who Qualifies as a Controller?

A “controller” refers to a person or entity that meets either of the following criteria:

• Ownership Control:
  Directly or indirectly holds more than 25% of shares or voting rights in the company; or
• Significant Influence or Control:
  Has the right to appoint or remove directors who hold a majority of board votes, or otherwise exercises significant influence over company decisions.

Controllers can be:

• Individuals (natural persons), or
• Corporate entities (e.g. parent companies or trust structures).

💡 Tip: Even if no one owns more than 25% directly, you must still assess whether any shareholder exercises indirect control through other entities.

3. What Must Be Recorded in the Register

Each company must maintain a register that includes key details of its controllers.

For Individual Controllers:

• Full name
• Residential address
• Nationality
• Date of birth
• Date when they became (and ceased to be) a controller
• Nature and extent of control

For Corporate Controllers:

• Entity name and registration number
• Address of registered office
• Jurisdiction of incorporation
• Date of becoming (and ceasing to be) a controller
• Nature and extent of control

4. Where and How to Maintain the Register

a. Internal Register

The register must be maintained at the company’s registered office or at an approved alternate location in Singapore.
It should be readily available for inspection by ACRA officers or law enforcement when requested.

b. Filing with ACRA (Central Register of Controllers)

Since July 2020, companies must lodge RBO information electronically via BizFile+.
This filing is not publicly available — only ACRA and law enforcement agencies have access.

When filing:

• Log into BizFile+ using CorpPass.
• Select “Update Register of Controllers (RBO)” under the relevant entity type.
• Submit the required information and confirm accuracy.

If there are changes to controllers’ details, companies must update ACRA within 2 business days.

5. Ongoing Maintenance Requirements

RBO compliance isn’t a one-off exercise. SMEs must:

• Review the register regularly, especially after share transfers, directorship changes, or ownership restructuring.
• Ensure records are accurate and up-to-date at all times.
• Keep past information for at least 2 years after a controller ceases to hold control.

Failure to maintain or update the register on time can result in fines of up to S$5,000 for both the company and its officers.

6. Exemptions

The following entities are exempt from maintaining an RBO:

• Publicly listed companies in Singapore
• Wholly owned subsidiaries of such listed companies
• Government-owned entities

All other private limited companies and LLPs — including small or dormant ones — must comply.

7. Common Compliance Mistakes

Many SMEs make avoidable RBO errors:

• Failing to update the register after ownership changes
• Not identifying indirect or ultimate controllers
• Treating the RBO as optional
• Keeping outdated contact details for controllers
• Missing the 2-day update deadline

Such lapses often happen when records are maintained manually or across fragmented spreadsheets.

8. How ccMonet Simplifies RBO and Corporate Record Management

Managing RBO filings and ownership updates manually can be time-consuming.
That’s why many SMEs use ccMonet — an AI-driven accounting and compliance platform that integrates bookkeeping, governance, and reporting tasks.

With ccMonet, you can:

• Keep ownership and director data synchronized in one secure dashboard.
• Generate and store controller registers digitally.
• Receive reminders when ownership or compliance deadlines approach.
• Maintain audit-ready documentation for ACRA and IRAS.
• Access on-demand expert support to review filings before submission.

By centralizing financial and corporate information, ccMonet helps SMEs avoid compliance gaps while reducing administrative load.

9. Key Takeaways

• Every Singapore company must maintain and file a Register of Controllers (RBO).
• Controllers are individuals or entities with more than 25% ownership or control.
• Updates to controller details must be filed within 2 business days.
• Keep RBO data for at least 2 years after a controller ceases control.
• Penalties for non-compliance can reach S$5,000 per offense.
• Automation tools like ccMonet make it easier to manage corporate compliance effortlessly.

Conclusion

The Register of Controllers is a critical part of Singapore’s corporate transparency framework.
For SMEs, staying compliant means more than just ticking boxes — it safeguards business credibility and ensures smooth operations in audits, funding, and partnerships.

👉 Stay on top of your RBO filings and corporate records with ccMonet — your all-in-one AI platform for smarter, faster, and compliant business management.

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