Our Singapore nominee director service is US$1,800 per year but we will require a security deposit of US$1,800. Total payment is US$3,600. The security deposit is refundable when the Singapore company terminates the service.
This service is solely for Singapore companies only.
According to ACRA, the regulatory body in Singapore that regulates businesses that incorporate in Singapore, a foreigner who is residing outside Singapore may choose to set up the business firm with at least one locally resident partner.
Offshore CorpServe is able to provide a local nominee director to facilitate the incorporate a Singapore registered company.
A nominee director can be a Singapore citizen or a permanent resident who has a Singapore residential address.
The nominee director will not be a bank signatory to the corporate bank account, and it will not be able to sign any documents (invoice, contract or legal documents) for the company. The nominee director will not play an active role in the company.
In Singapore, the company’s director have legal responsibilities and accountable to conduct AGMs (Annual General Meetings) and to file AR (Annual Return) to ACRA. The director has submit its corporate taxation returns to IRAS as well.
A nominee director who is a resident director of a Singapore company is legally responsible and accountable for complying with the requirements of the Singapore Companies Act. Failure to comply with the statutory compliance is an offense that results in fines, penalty and prosecution.
Our nominee director role is limited to satisfying the statutory requirement of a local resident director for your Singapore company.
Our requirements for us to provide a nominee director service are:
Please take note that a higher nominee director or security deposit fee may apply if your company falls under following categories:
As our nominee director is required to pay for company liquidation charges in case the foreign client is uncontactable. In order to protect the interests of the nominee director, we require a security deposit be kept with us, this security deposit is refund after the Singapore company discharge the responsible of our nominee director.
As the nominee director has no executive role in the company, the nominee director will not issue a power of attorney to anyone.
The nominee director service fee is paid on a yearly basis. The Singapore company may terminate the nominee director service at the end of the service period. It is the responsible of the Singapore company to inform us and make arrangement for a new local director takeover the nominee director's responsible a month prior to the end of the service period.