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Contact Us: (+65) 6741 2728

Nominee Director Services Singapore

Nominee Director Fees at only S$2000/year

Under the Singapore Company Act, any company set up in Singapore must have at least one director.

This company director must satisfy the following conditions:

  • Must be a Singapore citizen and a permanent resident of the country. The person can also have a Dependent Pass, Employment Pass or EntrePass with a Singapore resident address.
  • Must not be bankrupt
  • Must not have a criminal record
  • Must be 18 years and above

The Company Act does not limit the maximum number of directors a company can have. The Act also separates shareholders from directors – a director does not necessarily have to be a shareholder, and a shareholder does not have to be a director.

The Singapore Company Act requires the director and the company secretary to be legally responsible and accountable as the company’s representatives. In addition, at least 1 member is required to hold Annual General Meetings and to furnish Accounting Compliance Regulatory Authority (ACRA) with the company’s annual return statements. The director must also file the company’s tax returns with the Inland Revenue Authority of Singapore (IRAS).

Nominee Director Services

A company whose shareholders are Singapore residents can appoint one of its members to act as the director. However, foreigners wishing to incorporate a company in Singapore need to find a local qualified director. At Value Added Systems Pte Ltd, we provide Nominee Director Services to enable foreigners set up companies in Singapore.

The person appointed as the director is, in most cases, regarded the legal representative of the company. The director may liable for any of the company’s debts. In some cases, shareholders can fold up and leave the country, leaving the nominee director with company debts. To safeguard against such situations, we will assess your company risk before we take you on as our client.

The risk assessment consists of an initial analysis done before we take you as a client, and subsequent assessments after taking you as our client to ensure your company’s risk valuation is still valid. We do not accept high-risk companies, those with poor reputation, and those involved in illegal activities.

Terms of Nominee Director Services

To accomplish your requirements and safeguard our interest, we have certain terms on the provision of the Nominee Director Services. These terms ensure that you and your company are not distracted in your operations.

  • We will conduct a risk assessment of your company and reserve the right to provide your company with our Nominee Director Service.
  • We will supply a qualified Accountant candidate to fill the position of director.
  • The nominee director will not be actively involved in the running of the company.
  • You must appoint an active director to oversee your company’s operations.
  • The nominee director will not be a signatory to the company’s bank accounts.
  • The nominee director will not hold any shares in your company.
  • The nominee director must be safeguarded from company liabilities, penalties, debts, fines and any other expenses incurred by the company.
  • You should subscribe to our Company Secretary Services and Annual Taxation filing services.

or

  • You will be required to furnish us with your company’s financial records periodically.

For these terms to come into effect, they are certain documents and agreements which you have to sign. We will also furnish you with the necessary documentation to allow you to conduct your business with no interference.

On your part, you will need to furnish us with the following:

1. Director Indemnity Agreement – This agreement is meant to safeguard the nominee from your company’s liability. The agreement states that the nominee director is not accountable for any expenses of the company or levies and fines attached for failure to comply with the Singapore Company Act, ACRA and IRAS.

2. A refundable security deposit – After we complete the risk assessment, you will have to deposit a security fee of $2,000. This deposit is refundable in case of termination of the contract and to appoint a local qualified director to replace us.

On our part, we will offer the following:

1. A Signed Non-dated Resignation letter – The nominee director will hand in a pre-signed non-dated resignation letter. This gives you the power to terminate the services of our nominee director at any time if you are not satisfied with our services.

Engage Our Nominee Director Services Now!

Our Nominee Director Service is highly professional. The nominee director is in name only and under no circumstance will s/he interfere with the operations of your company. The sole purpose of the nominee director is to enable your company be in compliance with the Singapore Company Act. You retain the power to make company decisions, oversee operations and run your company.

Get in touch with us by filling the following form with your particular and our director will contact you within the next 12 hours. You may also wish to contact us through our phone line at (+65) 6741 2728.

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