What is the role of a Nominee Director?
Any local company in Singapore is required to have at least one local resident director. The local director can be a Singaporean or a Singapore Permanent Resident with a permanent address in Singapore. A foreigner who wishes to incorporate a company in Singapore will then need to appoint a Nominee Director to represent the company as a local resident director. This will fulfil the regulatory requirement of having a local director for the company.
A Nominee Director does not operate the company as the appointment of the Nominee Director is mainly to fulfil the regulatory requirement. However, Nominee Directors are still directors in the eyes of the law. Hence, he/she has inherited the same rights as the foreign director. We strongly encourage our clients to only engage a fit and proper Nominee Directors, As ACRA expects Nominee Directors to uphold a strong sense of compliance and regulatory know how.
How long do you need a Nominee Director?
If the foreign director is planning to operate his business and reside locally. We would suggest applying for an Employment Pass/Entrepass after the company is established. Once the foreign director is considered a resident in Singapore, he/she will then fulfil the local director requirement. Hence, there will be no need to maintain the Nominee Director's service.
How much does it cost to appoint a Nominee Director?
Depending on the risk profile of clients. The fees for Nominee Director range starts from $150/month subject to a minimum of 3 months service. We curate needs basis packages for our clients. Contact us if you wish to learn more about our Nominee Director service.