As we are advancing in the new technology era, the whole world market is marching towards the digital world. Acquiring online services has also become the utmost need of the day. Growing and expanding a new business/company is not an easy task if you don’t get it right.
You need to take every step very carefully to get everything right to avoid any hassle in the future. There is also a vital need to understand and comprehend the laws of the specific region in which you are conducting your business.
According to the Singapore Companies Act, companies that are to be incorporated in Singapore must fulfill certain requirements. One of the key requirements that needs to be fulfilled is the appointment of a nominee director. Nominee directors Singapore are individuals who are either citizens of Singapore or are permanent residents of the country of Singapore. A nominee director has to be a member of the board of directors of the company. Moreover, he or she has the authority to advise on certain affairs of the company.
Why Is It So Imperative To Associate with Reliable Services?
The appointment of a resident director is an extremely important requirement when it comes to the incorporation of your company and business. It is impossible to run an incorporated company in Singapore without nominating a director who is a resident of Singapore.
For entrepreneurs and business owners who are not Singaporean nationals, finding a resident director is an extremely difficult task. Time is a highly valuable asset when it comes to running a business or a company.
Therefore, when it comes to appointing a nominee director, entrepreneurs and business owners prefer to use nominee director services Singapore from corporate service providers to avoid the hassle of finding an individual who is a resident of Singapore. There are certain responsibilities that a nominee director has to fulfill when it comes to handling the affairs of the recently incorporated entity.
As a rule of thumb, the address of a nominee director is needed for any necessary correspondence by the Accounting and Corporate Regularity Authority of Singapore. Moreover, the nominee director has to manage certain affairs of the recently incorporated enterprise. He or she can advise on objective decisions regarding the future interest of the company.
However, it is to be noted that nominee directors do not have a final say when it comes to making important decisions about the future of the company.
The final say on important affairs lies in the hands of the owner/founder of the company. According to ACRA, the minimum number of company directors could be one. Furthermore, a company’s nominee director can’t serve as the company’s secretary. To put it simply, there have to be two legally registered, residential addresses in Singapore for the company’s director and secretary respectively.
Why You Need a Nominee Director
According to the Accounting and Corporate Regularity Authority of Singapore, a nominee director has to fulfill certain legal requirements before officially becoming a director. These legal requirements can be regarded as prerequisites before nominating a resident director for a newly incorporated company. A nominee director can’t take up his or her position unless or until being completely discharged from any bankruptcy case. Moreover, a nominee director should not be involved in any cases of fraud or dishonesty. He or she should not be a convicted felon under the Companies Act of Singapore.
Acquiring the Services to Have Nominee Director?
When it comes to providing excellent corporate services to entrepreneurs and business owners, there are several services in the market. Since it is mandatory by the Singaporean law to appoint a nominee director for a newly incorporated company, foreign entrepreneurs and business owners find it highly difficult to find a resident director for their company. For this reason, they opt a choice to outsource the services. Sleek offers a highly streamlined and efficient nominee director service to address this problem.
They offer highly skilled individuals who can be easily appointed as nominee directors. Since the rules and regulations are very clear about the appointment of nominee director.
According to the regulations of ACRA, the company should hire the experts that leave no stone unturned in keeping your company compliant. In addition to this, they should make it quite easy for foreign entrepreneurs and business owners, who have applied for an employment pass, to become directors of their enterprises. The transition service should be offered in such a way that the process becomes quite smooth for individuals.
A nominee director service is a unique add-on that should make the service provider on which the entrepreneurs and business owners can have the utmost confidence. When it comes to customer satisfaction, the premium services never compromises on its ability to serve its customers with exceptional corporate services.
The professionals should be committed to providing excellent care for the needs of the clients. For this reason, many entrepreneurs and investors are relying to outsource the services.
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