Overview
The Singapore Companies Act requires all foreign individuals looking to incorporate a company to engage a professional firm and meet the minimum requirements of one shareholder, one Resident Director, and one Resident Company Secretary to register a company.
If you’re not planning to leave your current country of residence but still want to incorporate a Singapore company, then this package is the best fit for your needs.
Requirements of a Nominee Director
The appointed Nominee Director must be one of the following:
- Singapore Citizen
- Singapore Permanent Resident
- Singapore Employment Pass/EntrePass Holder with a residential address in Singapore
Duties and Responsibilities of a Nominee Director
Other than to meet the statutory requirements of a local resident director for your Singapore incorporated company, the nominee director doesn’t play any role in the company’s operations and holds no decision-making powers nor responsibilities.
However, the responsibilities of a Singapore company director are quite onerous. Therefore, when engaging this service, we will require you the following:
- Execute a Nominee Director indemnity letter issued by AsiaBiz
- Pay a refundable security deposit* of S$3,000 for the service, in addition to our nominee director professional service fee
Company Setup Requirements
To incorporate your Singapore Company, you’ll need to fulfil the following conditions:
- Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
- Minimum paid-up capital of S$1
- A local registered office address
*Note: Security deposit should not be confused with our Service Fee. We will refund the security deposit back to you at once when you terminate our service and provide us with the details of an alternate local director.
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