Everything You Need to Know About A Nominee Director

In Singapore, it is important for companies to follow a company registration process as well as operate as per the rules of the Accounting and Corporate Regulatory Authority which is also known as ACRA.

To incorporate a company in Singapore, you should have at least one local director. HeySara offers the best nominee director for the establishment of a company. You can also check price for nominee director services here.

What is a nominee director?

Every company that is listed in Singapore should have at least one director who must be a resident of that country only. This is the strict guideline of the country’s Companies Act.

In case, an immigrant establishes a company in Singapore but does not have a local person who acts as a resident director of the company then the immigrant can also hire a person who serves as a director for a fee. Such a kind of director is known as a Nominee Director.

You need to know that a nominee director should be a citizen or permanent resident of Singapore and should have a permanent address of Singapore.

Although a nominee director does not have any major role in operating the company but is chosen to satisfy the regulatory needs of Singapore.

Does your company require a nominee director?

People often ask why a local nominee director is required in Singapore’s company?

This is because the Singapore government needs to have someone who is responsible in case the company break rules. There are chances that foreign owners of the company can escape and abandon the company if the requirement of nominee director is not kept important.

So, to avoid such kind of problems, the Singapore government has levied the requirement of local director with the supposition that the person who acts as a nominee director for a company should ensure that the company strictly follow the rules stated by Singapore law.

It is also the duty of the nominee director to ensure that the constitutional books of the company are properly maintained and also all the regulatory fillings are done on time in order to avoid the late fee or penalties.

A nominee director also maintains accounting records accurately along with yearly accounts. He/she also ensures that all the meetings of shareholders & directors are held as per the law and their fiduciary responsibility towards the company is pleased all the time.

How you can get a nominee director for your company in Singapore?

If you want to have the best and experienced nominee director for your company then without having a second thought simply contact HeySara. This company appoints a nominee director for both newly established companies and existing ones also.

HeySara also provides professionals who help in bookkeeping work and charge a reasonable monthly bookkeeping price. So, assign a reputable nominee director who can handle all the affairs of your company efficiently.