Written Reply to Parliamentary Question on Measures to Ensure Re-Domiciled Companies in Singapore Comply with Singapore’s Regulations

Question:

Mr Gerald Giam Yean Song: To ask the Minister for Home Affairs how does the Government ensure that foreign-owned companies that have re-domiciled in Singapore and are now known as Singapore companies adhere strictly to Singapore’s laws and regulations even as they continue to operate in their home countries and elsewhere in the region.

Answer:

Mr K Shanmugam, Minister for Home Affairs and Minister for Law:

1. All companies domiciled in Singapore, whether local- or foreign-owned, need to comply with the laws and regulations in Singapore.

2. Members know the process. States promulgate laws, and enforce these laws when breaches come to their attention. There are various ways in which breaches can come to a State’s attention. For example, information on breaches can come to light through systemic overviews, through complaints by informants, through victims themselves coming forward, and in a variety of other ways.

3.This applies both to individuals and to companies. In the case of companies, there are also requirements for companies to register and to file information, on several aspects – including with ACRA and other agencies.