Directorship
Nominee Director Services in Singapore
A locally resident nominee director satisfies Singapore’s requirement for a resident director, without taking on financial, management, or operational duties in your company.
Why you may need one
Singapore law requires a local resident director to be held accountable for all compliance matters relating to the company. Non-compliance is an offence that may result in fines, penalties and prosecution.
We provide a nominee director service at S$2,000 per year, with a refundable security deposit of S$2,500.
Who can act as nominee director
- A Singapore citizen
- A Singapore permanent resident
- An Employment Pass or Dependent Pass holder with a local Singapore address
How the arrangement works
A nominee director holds a non-executive position and carries no financial, management or operational duties in the company. The following conditions apply:
- You must have at least one other active director to run day-to-day operations
- You must execute our Nominee Director’s Indemnity Agreement
- You must appoint us as your company secretary
- Compilation of unaudited financial statements must be prepared by us
- All compliance matters, including corporate income tax submission and annual return filing, must be performed by us
- If you hire local employees, you must use our payroll services
- A copy of the company’s monthly bank statement must be forwarded to our nominee director, so transactions can be reviewed
The security deposit
A refundable security deposit of S$2,500 is held for as long as we act as nominee director. It is refunded within two months of us ceasing to act, or of the company being struck off voluntarily.
The deposit may increase as the company’s risk exposure rises, including but not limited to:
- A substantial increase in the company’s revenue
- The company intending to hire local employees
- Non-compliance with the Companies Act (Cap. 50)
Flexible levels of involvement
We can act passively, holding the position on paper, or provide more active support and guidance in running the business. We also draft and file the necessary documents with the relevant authorities.