Nominee Director Service for S$2,000
Local Authorities require a local resident director (nominee director) to be held accountable for all compliance issues relating to the company. Non-compliance is an offence that may results in fines, penalty and prosecution.
With this, Majer Business Services (MBS) is able to provide you with an affordable Nominee Director Service at a rate of S$2,000 yearly.
A Nominee Director can be:
- A Singapore Citizen
- Permanent Resident (PR) of Singapore
- EntrePass or Employment Pass / Dependent Pass holders with a local Singapore address.
Conditions in appointing us as Nominee Director for your company
- A nominee director is a non-executive position in the company who does not hold any financial, management or operational duties / responsibilities in the company
- You must have at least one other active director to operate the daily activities
- 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 issues such as Corporate Income Tax submission, annual return filing must be performed by us
- Should you intend to hire local employees for your business, you must use our payroll services
- A copy of the company’s monthly bank statement must be forwarded to our Nominee Director
- A refundable Security Deposit of S$2,000 must be placed with us for as long as we act as your nominee director of your company
Please note that the refundable security deposit may increase with the increase of your company’s risk exposure such as but not limited to:
- Substantial Increase in the company’s revenue
- Company intending to hire local employees
- Non-compliance with the Company Act (Cap.50)