What exactly is a nominee director
Every company in Singapore must have a local resident director — it is mandated by the law, so if you are a foreign business owner looking to incorporate your company in Singapore, ensure that you are familiar with nominee directorship.
What does the nominee director do?
A nominee director, alongside the other directors of the company, is the person responsible for ensuring the company’s compliance with Singapore’s laws and protecting the interests of the company.
Another thing to note is that all directors are responsible for the affairs of the company and must exercise due diligence and care and skill in ensuring that the company is properly run. Singapore companies cannot be set up without having a resident director, hence, resident “nominee” directors play an important role in the corporate services industry.
Finding a suitable nominee director
Besides finding a Singapore resident who is above 18 years of age with a clean record, there are a few factors you should consider. It is important to note that nominee directors usually serve multiple companies, hence this could result in a conflict of interest should your nominee director be involved with businesses that are non-compliant.
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