Singapore Company Incorporation with Nominee Director Service

Information on setting up a company in Singapore with Nominee Director Service
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March 2, 2010 - PRLog -- If you are a foreign individual who wish to incorporate a company and do not need to relocate to Singapore to run your company operations, you must do the following:

   * To incorporate a company in Singapore, Companies Act requires a local resident director. You will need to appoint a trusted contact or engage our nominee director to satisfy the act requirements.

Company Setup Requirements

   * Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
   * Minimum paid-up capital of S$1
   * A local registered office address

Singapore Nominee Director

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

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 yvukps 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.

Note: Security Deposit is in addition to the Service Fees. The security deposit is refundable and it is held for the duration of the service. It will be refunded to you upon termination of the Nominee Director Service.

Required Registration Documents

For Directors/Shareholders:

  1. Copy of NRIC/FIN/Passport personal page of Directors/Shareholders
  2. Completed/signed KYC Form
  3. Bank Reference Letter
  4. Proof of Address (e.g. bank statement, utility bill not older than 3 months)

For Corporate Shareholders:

  1. Copy of the Certificate of Incorporation of the holding company
  2. Copy of business profile "Extract" of the holding company
  3. Copy of passport personal page of Parent Company's representative who will be signing the incorporation documents

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Singapore Business Article by Rikvin
Singapore Company Registration or Apply for a Singapore Entrepass?
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Source:John Media
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