I am a foreigner and intend to incorporate a local company (I need to engage a filing agent). Sole shareholder is me; $1 capital. It's a contract advice type of business, no goods or trading.
My friend (Sg citizen) has agreed to act as the local resident director. He will resign after I obtain my EP. He has asked me:
Q1:
“What are the “risks / liabilities” to me from point of incorporation until your EP is awarded and you become sole director (I resign at that point).
[Timeline say 3 weeks]”.
Q2:
"What are the “risks / liabilities” (presumably lesser) to me after I resign as director"?
( “risks / liabilities” are defined broadly and not solely monetary).