Singapore resident as a nominee director for a company
Singapore requires that at least 1 of the directors in a private limited company be a resident of Singapore. If a company has no local resident director they will be required to engage a nominee director to fulfill this requirement. In some situations the hiring of a local resident nominee director is only required during the setting up of the company and application period for a foreign owner or staff to obtain an Employment Pass or EntrePass. Once this visa is obtained, the visa holder can become the Singapore resident director if they choose to or they can retain the services of the nominee director. In other cases such as an offshore business they will need the permanent services of a nominee director.
Nominee Directors Service
- Permanent nominee directors for offshore businesses
- Temporary nominee directors for new companies awaiting work visas
- Refundable security deposit
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Singapore Resident Nominee Director
Singapore Resident Director Requirement
Singapore businesses are required to have a Singapore resident as a director
Foreigners who would like to register a company in Singapore will need to engage a resident nominee director. For foreigners applying for an EntrePass or an Employment pass they can become the resident director for their own business once they receive their work visa. However during the setting up of the company and application for their visa the company will need to appoint a Singapore resident as a director.
Duties of a Nominee Director
Nominee Directors in Singapore are obligated to perform the duties of as a director
Singapore requires that all directors of a company, even if a nominee, must perform duties on behalf of the company they are a director of. The following are the services provided when you engage us as a nominee director.
Appointing of a Singapore Resident Director
- A qualified member of our staff will be named as your company’s director in all statutory records
- Our basic nominee director service provides only the required statutory compliance obligations
- Nominee Director does not take part in the management, financial or operations of the company
- Another director is required to be named to take on the responsibility as the executive director
- A security deposit is required when retaining the services of a nominee director as a safeguard
- You can request the resignation of the nominee director at any time as long as a Singapore resident can take their place
- Upon update of the company registry regarding the resignation of our nominee director the security deposit will be returned to the company