The Singapore Companies Act requires all Singapore Private Limited companies to have at least one individual director who has to be an ‘ordinarily’ resident of Singapore.
A Singapore resident can be one of the following:
- Singapore Citizen
- Singapore Permanent Resident
- Singapore Employment Pass/EntrePass/Dependant Pass holder with a residential address in Singapore
If you do not have a local Singapore resident director to meet the requirement of the Singapore Companies Act, you can engage our Nominee Director Service. We will provide you with a local Nominee Director for your company provided the followings conditions are met:
- The service is offered for statutory compliance only. The Nominee Director will not be involved in any management, financial, or operational matters of the company.
- You must appoint one or more individuals (normally the company shareholders) to be the directors that are responsible for running the company operations.
- You must satisfy our initial and ongoing KYC requirements.
- Execute our Nominee Director Indemnity Agreement.
We will also require a refundable security deposit for the provision of the Nominee Director Service. The service can be terminated any time at your convenience. You, however, must appoint a new Singapore resident director to meet the statutory requirement.