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Proposed Legislative Changes to Introduce Inward Re-domiciliation Regime in Singapore

As part of the wider Companies (Amendment) Bill 2017, the Ministry of Finance and the Accounting and Corporate Regulatory Authority of Singapore have concluded a consultation period for the proposed introduction of inward re-domiciliation of foreign companies to Singapore.

The new legislation will provide an opportunity for foreign corporations to transfer registration and, potentially, relocate headquarters to Singapore, where it would be obliged to meet local requirements under Singapore’s Companies Act. Factors still under consideration include a minimum size requirement for the inbound foreign corporation and the information to be divulged in its re-domiciliation application.

There will be further consultation periods during 2017 regarding other proposed amendments to the Companies Act.