Nominee Director Services That Meet Your Compliance Needs
A Nominee Director Is a Mandatory Requirement in Singapore. Have You Appointed Yours Yet? Selecting the right Nominee Director Services is crucial to the successful running of your business. In Singapore, there’s no better team than AI Accountant. Appointing the right Nominee Director for your business is necessary not just to meet compliance requirements, but for your company’s success. Chai Chung Hoong and the team at AI Accountant know full-well what it means to have the right candidate for the role. If you have not found a suitable candidate yet, why not approach a team with 10 years of experience for consultancy services?
What A Nominee Director in Singapore Does
Per Section 157(1) of the Companies Act (Cap 50) in Singapore, every company must have a Nominee Director. If your business is incorporated in the country, you must appoint at least one. This individual needs to be ordinarily resident in Singapore.
Nominee Directors in Singapore must fulfil the obligations and responsibilities laid out in the Companies Act and common law. Their responsibilities are like that of a regular director. In Singapore, most of the company’s powers lie with the board of directors. They will be responsible for controlling the company’s affairs. The board of directors will be responsible for answering to the shareholders too.
If you don’t have a suitable candidate for the role just yet, that’s where AI Accountant can recommend our partners who offer Nominee Director Services which comes in handy. AI Accountant will appoint a qualified member of the team to serve as your company’s Nominee Director. This can be done on an annual, or short-term basis.
Nominee Director Services
AI Accountant can recommend our partner to be a Nominee Director on behalf of your company. The services package is subject to the following:
- The service offered is in accordance with statutory compliance requirements only.
- A Nominee Director fee needs to be paid together with a refundable security deposit. The purpose of the security deposit is to safeguard the interests of our Nominee Director.
- The company must be solvent at all times and maintain all compliance requirements.
Once you have found a suitable candidate, you may terminate our services at any time. Your security deposit will be refunded once the Company Registrar has registered the change.
What the resident Nominee Director won’t do include:
- Not involved in the day-to-day running and operations of the company
- No signing of personal guarantees relating to any indebtedness of the company
One or more individuals (including yourself) must be appointed as executive directors. These executive directors will be responsible for handing the company. These individuals can be foreign nationals.
Engage With The Best Team In Singapore
A seasoned professional with 10-years of experience, Account Manager Chai Chung Hoong and team will take care of your team from start to finish. Let us help you meet your statutory requirements so your business can keep running smoothly. For more information about AI Accountant and our partners’ Nominee Director Services, contact us today.