Singapore Nominee Director
WHAT DOES THE NOMINEE RESIDENT DIRECTOR DO?
A Singapore Company must appoint a minimum of 1 director who is an ‘Ordinary” resident of Singapore. Our service helps you fulfill this statutory requirement as we can appoint a Nominee Resident Director on a short-term basis, as per your need.
Under the Singapore Companies Act and common law, the Nominee Resident Director (NRD) is similar to the regular Director and has the same duties and responsibilities. Majority powers in the Company lie with the Board of Directors. Who control the affairs of the business and are answerable to the shareholders.
In addition to their fiduciary duty to the Company Directors stand responsible for the Director’s/shareholders’ meetings, annual accounts, accounting records, statutory account books and filings.
Because of these obligations, we provide the Nominee Resident Director service based on the following conditions:
- We offer the Nominee Resident Director Service solely to meet the statutory requirement. The NRD will not participate in the daily operations of the Company involving finance, management and regular operations. This includes not executing any documents or signing any personal assurance related to any affairs of the Company.
- It will be required for you to appoint at least one individual as an Executive Director who will administer the duties of running the Company.
- The NRD service is offered against a fee plus a refundable security. We collect the security deposit for protecting the interests of the local resident acting as the Nominee Director.
- You can terminate our NRD service whenever you have found the ideal replacement for the position. The security deposit will be refunded once the change is made to the Company Registrar.
- It is essential that your Company remains compliant and solvent during the entire period we are offering our Nominee Director service. (Please check all our services to ensure that your Company is fulfilling all the statutory compliance requirements in Singapore.)