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Nominee Director & Shareholder

Nominee Director

As per Singapore Companies Act, all Singapore Private Limited companies to have at least one individual director who should be an ordinary resident of Singapore i.e. being one of the following: -

  • Singapore Citizen
  • Singapore Permanent Resident
  • Singapore Employment Pass/ EntrePass/Dependant Pass holder.

Prime’s personnel can act as your Nominee Director to fulfil requirement of Companies Act. However as The responsibilities of a Singapore company director are quite onerous hence we have to satisfy ourselves with the credibility of company beneficiaries and may require additional information on a case-by-case basis. we require you to Execute our nominee director indemnity letter and In addition to our nominee director professional service fee, we require a S$3000.00 refundable security deposit for the provision of this service which will be refunded back to you immediately upon termination of our nominee director service by you 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 to you. Our nominee director will not have any role, power and responsibility in the company except to satisfy the statutory requirements of a local resident director for your Singapore Company. We also provide the client with a nominee director agreement which defines the limitations of our role as nominee.

Prime reserves the right to cancel the fiduciary relationships and cease all administrative work, If any illegal actions are performed by the client,

Nominee Shareholder

As per Singapore Companies Act, all Singapore Private Limited companies must have at least one shareholder be it an individual or a corporation. It is not necessary for the shareholder to be a Singapore Resident.

At the time of incorporating Singapore or offshore company, you can either act as a shareholder yourself or we can assist in providing you with a nominee shareholder with an object to securing your corporate privacy. Prime can provide nominee shareholders for the companies it administers. These nominee shareholders will hold the shares on trust for the beneficial owners and only they will be identified on the register of shareholders.

A declaration will be signed by Nominee shareholder of trust to the beneficial owner that they are holding the shares on behalf of the beneficial owner and will return the shares into the name of the beneficial owner or will transfer them to another party as requested. Since nominee is not the legal owner, and the underlying investors have the "beneficial interest" in the shares: i.e. they are entitled to all income and capital gains on them

 
 
 
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