NOMINEE DIRECTOR SERVICES IN SINGAPORE
A nominee director (ND) is usually appointed to handle privacy and legality matters on behalf of a company. In addition to their legal responsibilities, an ND also plays a crucial role in ensuring compliance with Singapore’s regulatory requirements and can facilitate the incorporation process for your company.
Although the nominee director does not have extensive decision-making power, they have a crucial responsibility to ensure that the company adheres to local laws and regulations. This arrangement enables the owner of the company to fulfill other obligations that would otherwise prevent them from serving as a director.
Under the Singapore Companies Act, all Private Limited Companies (PLCs) in Singapore are required to have at least one director who is considered an “ordinarily” resident in Singapore. An individual is typically regarded as a resident if they can provide a local residential address, hold a Singapore citizenship or Permanent Resident status, possess an Entrepreneur Pass or Employment Pass. *Please note that the aforementioned conditions are non-exhaustive as other factors may be taken into consideration.
A Singapore citizen must act as the director of a registered company, representing the company publicly. This is to prevent businesses from being abandoned in the event of legal violations and to have someone accountable for handling statutory demands. The director or nominee director is responsible for ensuring that the company complies with Singaporean law and fulfils its fiduciary duties. For foreign investors seeking to establish a private limited company in Singapore without local residency or an EntrePass work visa, engaging a nominee director’s services may be necessary.
Foreign investors who intend to incorporate a private limited company in Singapore but do not wish to establish local residency or do not possess an EntrePass work visa may need to engage the services of a nominee director. The nominee director plays a critical role in ensuring the company’s compliance with local laws and regulations and fulfilling the fiduciary duties of a director.
Some companies are permitted to appoint Employment Pass holders from a related company to their Board of Directors.
At PACE, we provide nominee director services to businesses in Singapore, offering a reliable and trustworthy professional to act as the local director of your company. To find out more, click here to connect.
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Reliable Nominee Director Service with Competent and trusted Professionals, at only S$2,400/Year. *Industry and Risk-Dependent Fees May Apply.
WHY YOU NEED A REGISTERED ADDRESS
Having a registered address is a local legal requirement and plays a crucial role in ensuring legal compliance, facilitating communication, enhancing professional image, and protecting privacy and security for businesses.
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