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 is the person responsible for ensuring the company’s compliance with Singapore’s laws. Their primary role is to help Singapore companies set up by foreign entities to navigate Singapore’s complex legal framework and regulations. Basically, your nominee director is your tour guide to the unfamiliar world of laws and regulations in Singapore, allowing you to sit back, relax, and focus on running and growing your business.
Another thing to note is that the nominee director typically does not have any decision making power and executive authority in the company. It also allows you, the owner, to remain anonymous on paper, since the nominee director will be listed as the official director on public records.
Finding a suitable nominee director
Besides finding a Singapore resident who is above 18 years of age with a clean criminal 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 on a competitor’s board too.
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