Amendments to the Singapore Companies Act Improve Transparency of Company Ownership and Control

[Extract] The Companies (Amendment) Act 2017 (CAS), passed by Singapore’s Parliament on 10 March 2017 sought to strengthen Singapore’s role as a regional restructuring hub, permit foreign companies to re-domicile to Singapore and increase transparency of corporate ownership and control. This update addresses the reforms which establish greater transparency with regard to corporate ownership and control, thereby "reducing opportunities for the misuse of corporate entities for illicit purposes".