Singaporean individuals are allowed to hold multiple directorships without restrictions, but experts caution against introducing a hard limit as a solution to combat money laundering.

The recent case of a Singaporean with 980 directorships has raised concerns, although it is not uncommon for corporate service providers to hold multiple roles.

ACRA has prosecuted individuals with over 50 directorships for compliance breaches, and is considering restrictions on the number of directorships an individual can hold.

However, experts suggest that determining an appropriate limit is challenging due to varying factors such as types of directorships and individual capabilities.

They propose measures like stricter compliance checks for those with multiple roles and enhanced due diligence by corporate service providers to strengthen Singapore’s anti-money laundering regime.