According to the Companies Act, a foreigner who would like to form a private limited company in Singapore must meet four main requirements including Singapore secretary, minimum paid-up capital of 1 SGD, Singapore residential address and Nominee Director. ACE Global Accountant will mention about the requirement of Nominee Director in this article.
Nominee director service
The Nominee director can be:
- A Singapore citizen; or
- Foreigners own an EntrePass or an Employment Pass.
Note: The nominee director must be over 18-year old, and have a clean police record.
If a foreign – owner of Singapore company has a plan to move to Singapore for controlling and managing the company, he/she can apply a work pass as EntrePass or Employment Pass (EP). After work pass approved, he/she can be a nominee director for the Singapore. Note: during the period of applying for work visa the company still need to appoint a Singapore resident as a director.
ACE Global Accountant can help you meet the requirement by appoitting a qualified member of our staff to act as your company’s director in all statutory records. A Nominee director service of ACE Global Accountant includes:
- Permanent nominee directors for Singapore companies
- Temporary nominee directors for new companies awaiting work visas
There is a refunable security deposit for Nominee director service. The security deposit is collected to safeguard the interests of Nominee Director.
Note: You can terminate our service at any time and replace our Nominee Director with a suitable replacement. We will refund the security deposit after the change has been affected with Company Registrar.
The role and scope of Nominee director in Singapore company
In Singapore, a Nominee Director has the same obligations and responsibilities as those imposed on a regular director by the Companies Act and the common law.
Most of the company’s powers are vested in the board of directors, who control the company’s affairs and are answerable to the shareholders.
Directors are responsible for the statutory books and filings, accounting records and annual accounts, shareholders and directors meetings and importantly, all directors have a fiduciary duty towards the company.
For more information or give questions to ACE Global Accountant, contact us via email or whatsapp.