What is role and scope of nominee local director service? Featured

Written by 
Rate this item
(1 Vote)

role-and-scope-amnominee-director

What is role and scope of nominee local director service?

 

Each Singapore company must appoint one Singapore resident director.

If you are a foreign business professional or a foreign entity who does not have a local director, you can utilize our Nominee Local Director service to satisfy this statutory requirement. The service can be provided on a short-term or annual basis as below:

If you are not relocating to Singapore, you will need our nominee director service on an annual basis.If you are applying for employment pass, you will need our nominee director service on a temporary basis. Once your employment pass is approved, you will be able to take over as the local resident director.

Please note that in Singapore, a Nominee Director has the same responsibilities as any other director. Therefore providing a nominee director for your company imposes certain responsibilities on you as well as us and we would like to highlight the terms of our nominee director service as below.

Nominee Director's Role and Scope at Glance

Who acts as the executive director(s) of the company i.e. who runs the company?

Client

Who acts as the bank signatory?

Client

Who signs contractual and financial documents of the company?

Client

Who acts as the shareholder of the company?

Client

Is nominee director involved in any matters of the company except to satisfy the statutory local director requirement?

No

Can the nominee director review and scrutinize the bank and financial statements of the company?

Yes, to fulfill his/her fiduciary duties

 

 

Read 5317 times
Global Links Asia

Support to Incorporate companies in Singapore, ...

Viet Nam office: 151 Dao Duy Anh St., Phu Nhuan dist., Ho Chi Minh city, Viet Nam

Singapore office: 11 Beach Road, #03-01 Crasco Building, Singapore

Hotline: (+84) 0938 531 588   (+65) 3163 4102   

Website: www.globallinks.asia
Login to post comments

Connect with us

We're on Social Networks. Follow us & get in touch.

Contact us