Nominee Director Service in Singapore

Nominee Director

Are you looking for a nominee director for your company? Paciol offers nominee director services in Singapore for those companies that don’t have a local/resident director. If you need to appoint a nominee director for your foreign company, we can offer flexible nominee director services to help you operate your business seamlessly.

Who is a nominee director?

So, as per the rules of company incorporation in Singapore, every registered company must have at least one director who is a resident of the country. According to the country’s Companies Act regulation, appointing a local director for registered businesses in Singapore is mandatory. When a foreigner incorporates their company in Singapore, without a permanent resident of Singapore as the director, they can get a nominee resident director Singapore for a fee. The nominee director doesn’t play any role in operations but is appointed to satisfy Singapore’s statutory requirements for incorporation.

Why would you need a nominee director?

Are you wondering why do you need a nominee director in Singapore instead of a regular director? The Singapore government wants to have someone on the company board take charge when the company does not pay taxes, gets involved in money laundering or breaks any laws. A local nominee director is essential so that any foreign company owner will abscond or abandon the company at any second.

Our Offerings

Companies that want a local director to meet the regulatory demands of the Company Acts can always opt for our nominee directors to become compliant as per the law.
However, businesses that want in-house professionals or local directors to meet the requirements of the company’s acts and provide additional compliance advisories.
With our experienced directors, you can get peace of mind that the directors fulfil all their duties while keeping your business in line with the legal requirements.
Businesses that want nominee directors just for legal compliance can pick our Nominee directors to act passively without being involved in any business operations. They will not possess any authority or hold any bank signatory authorities within the company.
In addition, as our service as a nominee director follows a legal written arrangement, you can rest assured that your company is safe legally and all the terms and conditions in the agreement are kept transparent.

Why Paciol?

With our nominee director service, you can get a flexible arrangement to aid you swiftly and straightforwardly to satisfy the regulatory requirements of ACRA. Our nominee directors are experienced, trustworthy and accountable individuals who can perform their director duties with utmost integrity and honesty.
As a revered corporate secretary, accounting and bookkeeping firm in Singapore, we can be a convenient arrangement for EP and DP applicants seeking to become the director of their own companies eventually. In addition, our nominee directors also have extensive know-how to ensure that your company remains compliant at all times, including when the required documents are filed with ACRA and IRAS.

FAQs

If I become a Singapore citizen and then appoint myself as a director, will that be okay?
Yes, you can do that. However, to meet the regulation of the corporate regulatory authority, you should apply for a work pass (i.e. an Entrepreneur Pass or employment pass). Upon receiving the work pass, you can become the director of your company and then you won’t need a nominee director of your company.

Does hiring a local nominee director in Singapore entail any risk for my company?
There is no such difference between a regular director and a nominee director for the law. As per the Companies Act:
“The business of a company shall be managed by or under the supervision of the directors. The directors can exercise all the power of a company, except any power the company must exercise in a general meeting.” In a nutshell, the directors have the authority to make all decisions on behalf of the company unless the matter demands resolution by a shareholder vote.

Does the nominee director take any risk for the company?
Yes, they do. A nominee director undertakes a significant risk for the company. When the company or any real director breaks the law, the nominee director is also on the hook with the regulatory authorities. While the local nominee director’s powers are severely curtailed, their liability is not. Any serious violation or breach of the law by the company can lead to the prosecution of the nominee director.