Singapore Nominee Director Services

Nominee Director Services in Singapore

Appointing a qualified nominee director is a key step in setting up a company in Singapore. Selecting the right local director ensures compliance with regulatory requirements and provides a foundation for stable operations. Our nominee director service offers a balance of quality and cost-efficiency, designed to support businesses in meeting their legal obligations seamlessly. However, it’s important to approach this decision with care, as an ill-suited appointment could expose the company to significant risks. 

For further guidance on making the right choice, refer to our in-depth article on “Appointing the right person as your Nominee Director“.

Who is a Nominee Director in Singapore?

A nominee director in Singapore is a crucial figure in the company setup process, as mandated by the Singapore Companies Act. Every private limited company (PLC) in Singapore must have at least one director who is a resident of Singapore. This local nominee director serves a statutory role, ensuring compliance with local laws, but does not engage in any financial, operational, or management responsibilities. Our Singapore nominee director services offer a high-quality, reliable solution at economical rates, helping you fulfill this requirement with peace of mind.

 

What Are the Key Responsibilities of a Nominee Director in Singapore?

The responsibilities of a nominee director in Singapore are extensive and can be demanding. Among these responsibilities, one major obligation is the potential liability for liquidation charges if the foreign client becomes unreachable. This ensures that any company-related shutdown costs are covered to avoid legal or financial issues.

To safeguard the nominee director’s interests, a security deposit is typically required. This deposit serves as a protective measure, held by the service provider, to mitigate risks and cover any unexpected liabilities that may arise during the nominee director’s term. This deposit remains active for the duration of the nominee director’s engagement.

 

What Are the Residency Requirements for a Nominee Director in Singapore?

For an individual to qualify as a nominee director in Singapore, they must be recognized as “ordinarily resident.”  Generally, this involves:

1. Having a local residential address in Singapore.
2. Holding a valid status, such as Singapore Citizen, Permanent Resident, EntrePass, Employment Pass, or Dependant’s Pass.
3. Demonstrating long-term residency in Singapore, which shows they can legally remain in the country for an extended period.

These residency requirements help ensure that the nominee director is sufficiently established in Singapore, aligning with the country’s legal standards. Other factors may also be taken into consideration when determining eligibility of nominee directors in singapore.

 

Why Choose Our Nominee Director Services in Singapore?

Selecting a competent nominee director for your company in Singapore is essential to avoid potential legal and financial pitfalls. Our nominee director service stands out for its professionalism and affordability. Backed by an experienced team, our services ensure that your compliance needs are met without any involvement in your company’s day-to-day management. Additionally, we require a security deposit of SGD 2,000 to safeguard the interests of the nominee director, which is refundable upon termination of the service, provided all conditions are met.
 

How Do Our Singapore Nominee Director Services Work?

To engage our nominee director services, specific conditions must be met to ensure compliance and security for all parties involved. Here’s an outline of our process:

1. Service Fees and Security Deposit: The nominee director service costs SGD 2,180 (inclusive of GST) per year, with an additional refundable security deposit of SGD 2,000.
2. Requirements for Compliance:
   • We require all clients to subscribe to our annual secretarial, accounting, tax filing, and registered address services, ensuring smooth operational support.
   • The nominee director must verify domain names under VerifiedID@SG if you wish to register a .sg domain.
   • To maintain regulatory compliance, your business correspondence must be routed through our office.
   • Clients may only maintain a single Singapore bank account under the nominee director’s responsibility, with additional accounts subject to approval.
3. Restrictions and Disclaimers:
   • Our nominee directors do not participate in business operations. You must appoint separate directors responsible for managing the company’s activities.
   • We do not provide services to individuals from countries listed under US sanctions. Failure to disclose any such association may lead to forfeiture of the security deposit and other necessary actions.

 

Package Fee for Singapore Nominee Director Service

Package Available	Fee (SGD)
Nominee Director Services (We will also collect a refundable security deposit of $2,000 from you for the provision of our Nominee Director Service. The security deposit is refundable upon termination of our Nominee Director Service.)	$2,000 (W/GST $2,180) per year **
Verification of .com.sg / .sg domain name through VerifiedID@SG by the nominee director *	$200 (W/GST $218) per domain name *

 

VerifiedID@SG Requirements for .sg Domain Names:

• All new .sg domain names registered from 2 May 2013 require compulsory verification through SingPass.
• Verification must be completed by the administrative contact of the domain to confirm the registrant’s identity and contact information.
• Eligibility for SingPass IDs is limited to:
  • Singapore citizens
  • Permanent Residents (PRs)
  • Foreigners working in Singapore
• If using our nominee director services and planning to purchase a “.com.sg” or “.sg” domain name:
  • The domain must be purchased through our affiliated provider, IT Solution.

Security Deposit Terms:

• Security deposit offered at $2,000 if the company is in good standing (based on a free, detailed company search).
• The principal must meet initial Know Your Customer (KYC) requirements.

Restrictions for Nominee Director Services:

• We cannot serve as Company Nominee Director if:
  • The principal is a citizen of, connected to, or born in a country on the US Sanctions list.
  • If this information is not disclosed and later discovered:
    • Appropriate actions will be taken, including forfeiting the security deposit, company closure, and any other necessary measures.

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FAQ for Nominee Director Services

The Singapore Companies Act requires all Singapore private limited companies (PLCs) to have at least one individual director who is an ordinarily resident of Singapore.

Responsibilities are quite onerous for all directors, including the nominee director. The nominee director is required to pay for company liquidation charges in case the foreign client is no longer reachable. Our nominee director services Singapore are provided by our reputable and trustworthy professionals. To safeguard the interests of the nominee director, we require that a security deposit be kept with us for as long as our Nominee Director Service is active.

Generally, an individual is accepted as ordinarily resident in Singapore if the individual:
(a) provides a local residential address;
(b) is a Singapore Citizen, Singapore Permanent Resident, EntrePass holder, EmploymentPass holder or Dependant’s Pass holder; and
(c) proves that he/she is long-staying (i.e. he/she can legally remain in Singapore for a long period).
Please note that the above conditions are non-exhaustive as other factors may be taken into consideration.

If you do not have a local Singapore resident director to meet the requirement of the Singapore Companies Act, you can still engage our Nominee Director Service. We will provide the local Nominee Director Service 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 financial or operational matters or management of the company.
• You must appoint one or more individuals (normally, company shareholders) to be the directors that are responsible for running the company operations. Our nominee director will not be involved in your business operation.
• You must satisfy our initial and ongoing KYC requirements.
• Execute our Nominee Director Indemnity Agreement.
• You must subscribe to our annual secretarial service.
• You must subscribe to our annual accounting service (i.e. compilation of financial statement).
• You must subscribe to our annual tax filing service.
• You must subscribe to our GST review and filing service if the Company is GST registered.
• You must subscribe to our registered address service.
• You must subscribe to our payroll and immigration service if hiring any staff in Singapore.
• You must change your Company’s correspondence address maintain with banks to our 3E’s office in order for us to receive your monthly bank statements and any other banking transaction documents for our routine compliance review.
• You are allowed to maintain one Singapore Bank Account only in the Company. For the second bank account opening, it is subject to our nominee director approval provided valid reason is given
• Opening of foreign bank account in overseas is subjected to 3E approval if you are engaging our nominee director services

 

We will also require a refundable security deposit to provide you with the Nominee Director Service. The service can be terminated any time at your request. You, however, must appoint a new Singapore resident director to meet the statutory requirement.

Frequently Asked Questions