What Is The Importance Of A Nominee Director In Business Setup In Singapore?
A business planning to set up a company in Singapore requires a local resident director. The resident director can be filled by a Nominee Director. Under Section 157(1) of the Companies Act (Cap 50), a director shall at all times act honestly and use reasonable diligence in the discharge of the duties of his office. Few companies that help a foreign business purchase its own Shell Company in Singapore also provide Nominee Director Services. At AI Accountant, we can do it! Together with our partners who will designate one of their own team members for this appointment, AI Accountant Chai Chung Hoong can help your business set up in Singapore in the shortest time possible.
IMPORTANT ROLE OF NOMINEE DIRECTOR
As Brisksync explains, the Nominee Director is a person appointed to represent the interests of another group or person. AI Accountant can recommend our partner to provide Nominee Director Services.
As per Section 157(1) of the Companies Act (Cap 50) lays out, the directors are to take care of statutory books as well as its filing, while accounting the records and the yearly accounts; also the director’s and stakeholder’s meetings.
ROLE AND LIMITATIONS
As the companies that provide the services for Nominee Director and AI Accountant Chai Chung Hoong explains, the role is very specific and has its own limitations too.
However, finding a good company to do all these is definitely a challenging task. Choose AI Accountant and our Account Manager Chai Chung Hoong will make the impossible possible!