Accrafile provides you with very affordable Nominee Director Service, at a special discounted fee from S$200/month for a small foreign owned company in Singapore.
Nominee Director Services
What Sets Our Nominee Director Services Apart?
Highly Qualified
With more than 25 years of operational skills, corporate governance and business experience, our in-house director and team can provide you with advisory to help your business operate effectively in Singapore.
Well-Versed in Corporate Restructuring
Over the years, we have dealt with many companies who require assistance on corporate restructuring with local and foreign entities. As such, if you want to have a team to support you to restructure your business, you can definitely count on us to provide you with solutions and recommendations.
Served by Locals (Local Brand)
Accrafile comprises of a team of locals (Singaporeans & PRs) running the business. If you have any matters with regards to licensing, entrepreneur pass, employment pass or any other local matters (i.e. housing, schooling, transport etc…), you will be receive a suitable advice and recommendations.
Fully Integrated Provider
In addition to nominee director services, you will also be able to get access our team to support you with Accounting, Tax Planning & Advisory, Corporate Secretarial and HR/Payroll related services to ensure your business will always remain compliant with the relevant laws and regulations in Singapore.
Singapore Companies Act requires at least one local resident director for a Private Limited company.
If your company is 100% foreign owners, you must appoint a nominee director to fulfil this mandatory requirement of the Companies Act
The nominee director can be
- A Singapore citizen,Or
- Permanent resident
and has a Singapore residential address.
Your Company’s directors and company secretary have legal responsibilities and accountable
- to conduct Annual General Meetings and to file Annual Return to Accounting Compliance Regulatory Authority of Singapore, (ACRA) and
- to submit its corporate taxation returns to Inland Revenue Authority of Singapore (IRAS).
Government insists that the nominee director who is a resident director be held accountable to all statutory requirements. Failure to comply with the statutory compliance is an offense that results in fines, penalty and prosecution.
What conditions do our local nominee director service involved?
You can engage our Nominee Director Service under the following conditions
- You must appoint at least one foreign individuals shareholder to be the active executive director’s responsibility to run the business.
- The nominee director is to meet the statutory compliance of a resident director. It is a non- executive position with no financial, operational or management responsibilities of the company.
- You must satisfy our “Client Risk Assessment Review” requirements.
- You must execute our Nominee Director’s Indemnity Agreement.
- You must use our accounting service, company secretarial service, corporate annual taxation filing service.
- You must use our payroll service when you provide employments to hire local employees.
- You must provide monthly Company’s bank statement to our nominee director’s email address for review by our accountant.
- You must hold the annual general meeting (AGM) within six months of every financial year end and file its annual return (AR) within one month of AGM date to the authority.
- You can maintain Singapore Bank Account in the Company.
- The opening of one foreign bank account overseas is subject to Board Resolutions approved by all directors.
What happen to the company when the foreign director/shareholder are not contactable?
Cases of foreign directors/shareholder relocating their business, and disappear from Singapore without any overseas contact details.
- The company’s business stops immediately, as the nominee director is a non-executive position.
- The nominee director is authorised to strike off the company under the signed Nominee Director Service Agreement from the Registry, after repeating attempts to contact the directors/shareholders.
- A refundable security deposit of $ 2,000 is required for the nominee directorship agreement.
- You can ask our nominee director to resign at any time by appointing a new person who can satisfy the local director requirements.