When setting up a new business in Singapore, Singapore law states that there needs to be at least one director and one shareholder. The director will then be listed on the official company records, of which their name would be used to officiate formal proceedings concerning the company.
To be a director of a company, they would have to be individuals either residing in Singapore or that of a Singapore citizen. This requirement, however, can become a challenge when it comes to appointing a suitable person as a director.
Thus, nominee director services are implemented to allow businesses to appoint a nominee director for the organisation. While a director in name for the organisation, the business can have it arranged such that the director does not have any decision-making power in the company. Thereafter, businesses can then appoint their desired executive directors to ultimately manage the business.
When do you require Nominee Director Services?
An individual considering forming an organisation in Singapore but remaining anonymous can opt to engage nominee director services in place for a temporary director. Numerous reputable firms offer an affordable local nominee director fee in Singapore, and consulting them can put peace of mind as they are a great source of help. When engaging in nominee director services, it is useful to know that the business owner is still in complete control of the company – they have the option to give access to a broad spectrum of services that can be performed only when a director is present as well as being able to utilise the local director’s registered office as the address if required.
Suppose you are a non-citizen considering starting a business in Singapore. In that case, you should ideally steer in the direction of searching for a local director to assist you through nominee director services. For a reasonable fee, business owners can nominate a director to perform tasks under the owner’s written instructions. While the tasks executed by the nominee director are limited, it is essential that you engage one who has an extensive background of the services required.
OneStop’s Nominee Director Services in Singapore
When on the lookout for nominee director services in Singapore, it is vital that you select a reputable firm – seeing as the level of tasks to be performed. While nominee directors typically do not have a say in your organisation’s business decisions, they are still required to act in compliance with Singapore law. Thus, choosing a creditable nominee director is vital in ensuring that your company can effectively execute all of the necessary statutory requirements.
Additionally, legal formalities should be met when choosing for the ideal nominee director service in Singapore. You should ideally work with an esteemed firm with the capability to undertake the required legal formalities in an effective and efficient manner. When done properly, these reputable firms can assist non-citizens in seeking trusted nominee directors capable of handling all of the necessary processes such as accounting, tax filing, and incorporation.
OneStop Professional Services Pte. Ltd. is a reliable company that offers numerous professional services in Singapore for affordable and reasonable fees. At OneStop, our hassle-free and efficient process ensures you have your company started in the shortest time possible. We assure you that you can focus and handle your organisation’s primary activities as we help source experienced nominee directors for your company. Other than nominee director services, OneStop also provides auditing, accounting, secretarial services, and more should you be in need of an all-inclusive solution.