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When registering a company in Singapore, every business is required to declare its Singapore Standard Industrial Classification (SSIC) code. Many business owners view the SSIC as a simple registration requirement. In reality, it plays an important role in regulatory compliance, banking, licensing, taxation, and government support programmes.

On 8 July 2026, a case that shook the industry came to light: a former corporate service provider employee, despite having left the job, remained stuck as the appointed director of more than ten companies. The reason? The foreign shareholders behind those companies had gone unreachable, leaving the nominee unable to legally resign.