The Companies Act Chapter 50 requires all Singapore companies to have at least one individual director who is an ordinarily resident of Singapore and is not disqualified from acting as a director. Director of the company has attained the age of 18 years.
Duties of Nominate Director Services
If you are not a resident of Singapore and cannot provide a local resident of Singapore to serve as a director, we can provide you with reputable and trustworthy professionals to serve as the nominee directors.
1. Our nominee director service is provided to meet the registration and maintenance requirements. The nominee director will not be in any way involved in the operation and management of your Singapore company.
2. The nominee director must assist in dealing with the continuing statutory requirements to ensure the company complies with the requirements of the Singapore Companies Act.
Qualifications of Nominee Directors
The duties and responsibilities of a nominee director is very onerous therefore requires a person who possesses the capabilities and competency to carry out such function. If unfortunately a non-competent person is being appointed as your nominee director, you may risk having your companies in bad shape either due to not being able to obtain signature for important documents and resolutions or not being able to get signature on time, having the director signing on documents prepared not in accordance with the proper guidelines and requirements, not being able to proceed with important transactions and so on. More importantly, with a nominee director that has no knowledge on the compliance requirements, customer may end up not filing or filing their annual returns not on time and the directors may risk being debarred from acting as director of another company in the future or having their existing companies being closed down by ACRA.