Frequently Asked Questions - Singapore Nominee Director Service

Q. Is a resident director required for registration of a Singapore company?
A. Yes, as per Singapore Company Act, each private limited company must have at least one director who is local resident in Singapore.

Q. If we don’t have anybody in Singapore who can act as the local resident director for our company, can you provide the service of a nominee director?? What role will he play in our company?
A. Yes, we can. Our nominee director will not have any financial, management, or operational interest in the company. He will not be involved with any business dealings, contracts, or banking matters of the company. His role is just to satisfy the statutory requirement of a local resident director for your Singapore company.

Q. What are your terms for providing a nominee director service?
A. As per Singapore company laws, the responsibilities of a company director are quite onerous and therefore we have certain conditions that must be fulfilled in order for us to provide a nominee director service. Specifically,

• We would need to be satisfied with the credibility of company beneficiaries and may require additional information on a case-by-case basis.
• We require you to sign a nominee director indemnity letter.
• In addition to our nominee director professional service fee, we require a USD1,200 refundable security deposit for the provision of this service.

Q. Why do you need a security deposit? When will we get it back?
A. As per Singapore Company Laws, responsibilities of directors are quite onerous for all directors including nominee director. The nominee director is required to pay for the company liquidation charges in case the foreign client is no longer reachable. Our nominee director service is provided by the reputable and trustworthy professionals and to safeguard interests of the nominee director, we require that a security deposit be kept with us for as long as our nominee director service is active. Please be advised that no reputable company will provide the nominee director service without a security deposit. The saying ?EM>You Get What You Pay For?is quite appropriate in this case.

A security deposit should not be confused with our Service Fee or some other fee. It’s your money that is temporarily in our custody for the duration of our nominee director service. We will refund the security deposit back to you within 7 working days after you no longer need our nominee director service.

Q. Can I terminate your nominee director service anytime?
A. Yes, you can terminate our nominee director service anytime by providing us with the details of an alternate local director. We will do the necessary paperwork, lodge the change with authorities and promptly refund the security deposit back to you.

For further information or assistance, please call us:

Hong Kong Office: +852 2341 1444
Singapore Office: +65 6295 2884
Shenzhen Office: +86 755 8268 4480
Shanghai Office: +86 21 6439 4114
Beijing Office: +86 10 6874 8420

or send email to enquiries@bycpa.com.