Nominee Director Service
The Singapore companies act requires all Singapore private limited companies to have at least one local director who is either a Singapore Permanent resident or Singapore Citizen who are resident in Singapore.
If your company is 100% foreign owners, you must appoint a nominee director to fulfil this mandatory requirement of the Companies Act
The nominee director can be
- A Singapore citizen, Or
- Permanent resident and has a Singapore residential address.
Jaanik will provide you with a nominee director if the clients have difficulty in finding them.
The Service is offered for statutory compliance only. The Nominee Director will not be involved in any day-to-day management, financial, or operational matters of the company. This means that the Nominee Director will not execute documents on behalf of the Company nor will the Nominee Director sign any personal guarantee relating to the indebtedness of the company.
Nominee Director Role:
Your Company’s directors and company secretary have legal responsibilities and accountable to conduct Annual General Meetings and to file Annual Return to Accounting Compliance Regulatory Authority of Singapore, (ACRA) and to submit its corporate taxation returns to Inland Revenue Authority of Singapore (IRAS).
|Who is responsible for the management and operational running of the Company?||Client|
|Who shall be the bank signatories?||Client|
|Do the statutory obligations imposed on directors by the Companies Act apply to the Nominee Director?||Yes|
|Does the Nominee Director owe a fiduciary duty to the Company?||Yes|
|Who acts as the shareholder of the company?||Client|
|Is this service for statutory compliance only?||Yes|
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. You can terminate our Services 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.
Should you have any queries, send an email to us at email@example.com