You would need a nominee director to begin with. Your partner on EP could not become a director. You on LOC could become director after you dump LOC... you need to read my threads about what it takes to do this. Once you are director, you could dump rented director.Goldy740 wrote:Hi all, a friend (developer) and i have got what we believe to be a strong business plan for an app/platform focussed purely on singapore.
We are both foreigners, he is on a visitors pass but is likely to be getting an SP or EP soon (currently he is consulting for foreign companies and earning money back in his homeland of iceland)
I am on an DP/LOC working for my company (EP was rejected).
To setup this new company we would need a local 'nominee director' correct? Needs to be a resident or a PR i believe.
Not mandatory but essentially required for doing business... so, YES.We would need to open an account with a local bank.
Yes. If two or more directors then a director can be secretary, with only one director, must have outside secretary. As a matter of reality, you need a secretary to properly file all docs if you don't know how.We would need to have a company secretary within 6 months of incorporating the company.
You are correct about nominee director. Can do anything and everything to the company.Could me and my friend be foreign directors and shareholders if we have have work passes attached to other companies? There is no overlap whatsoever in terms of business activities.
My concern is that if we set this company up and it is successful and we only have one nominee director we have no control over the business of the revenues it generates...
Yes - she could be a director. There is no such thing as a "nominee" director. You are either a director or you are not.Goldy740 wrote:So the reality is that you need to find someone you trust who is a PR or a singaporean citizen to be a nominee director...?
I.e. by friends girlfriend is singaporean so she could potentially be the nominee director.
Which topic precisely ?DanielBrody wrote:I would also like to know more regarding this topic
would u be able to approach Spring Singapore for help?Goldy740 wrote:Hi all, a friend (developer) and i have got what we believe to be a strong business plan for an app/platform focussed purely on singapore.
We are both foreigners, he is on a visitors pass but is likely to be getting an SP or EP soon (currently he is consulting for foreign companies and earning money back in his homeland of iceland)
I am on an DP/LOC working for my company (EP was rejected).
To setup this new company we would need a local 'nominee director' correct? Needs to be a resident or a PR i believe.
We would need to open an account with a local bank.
We would need to have a company secretary within 6 months of incorporating the company.
Could me and my friend be foreign directors and shareholders if we have have work passes attached to other companies? There is no overlap whatsoever in terms of business activities.
My concern is that if we set this company up and it is successful and we only have one nominee director we have no control over the business of the revenues it generates...
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