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Information for and about nominee directorship in Singapore

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BC1
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Information for and about nominee directorship in Singapore

Postby BC1 » Fri, 14 Sep 2012 7:07 pm

Good evening!

I am a British citizen planning on incorporating my company in Singapore. I plan to continue living in the UK and to visit Singapore when necessary/desirable.

I need a non-executive nominee director who is a Singaporean citizen or permanent resident of Singapore. I know somebody who matches that description and he's happy to help me.

However, I cannot find any information about the incorporation process so that I can advise him exactly what we have to do together. Most web sites offer their own nominee director service and so (understandably) keep secret exactly what they do to appoint the nominee director.

Does anybody know what information I need from him (apart from his NRIC, name and address)? And what will I need him to do as I progress through the incorporation?

Also, has anybody seen an example of a contract that is signed between the executive director and the nominee director that relinquishes him of his responsibilities over the company? I would be very interested to see an example please.

Thank you so much for any help or advice you can offer on this matter. I shall be very grateful.

Best regards

Stuart

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Postby Strong Eagle » Fri, 14 Sep 2012 11:34 pm


BC1
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Postby BC1 » Sat, 15 Sep 2012 12:17 pm

I assure you I have already spent many hours doing the basic Google searches on this topic, and had of course found ACRA's own homepage very early in the process and read the material there. If my question suggested that I had not done any prior research, I apologize.

As you may already know, the process for the nominee director is in a password protected area of the site that is inaccessible to me. I do not think it would be polite for me to say to my kind Singaporean helper "I need you to use your NRIC to go through a locked door on a government web site and begin a process on my behalf of which I can tell you nothing". I want to know exactly what questions he will be asked, and what documents he'll be asked to provide so that I can explain to him and guide him.

The other part of my question was that I would like to see an an example of a contract that is signed between the would-be executive director and the nominee director that relinquishes the latter of his responsibilities over the company. I would like this to ensure that my Singaporean nominee will be properly protected if despite my best efforts my business fails.

I hope you now understand what and am looking for and why I think it's the reasonable and responsible thing to do at this stage. Can anybody be of more help, please?

Best wishes and thanks very much in advance of any insights you can provide.

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Re: Information for and about nominee directorship in Singap

Postby AnthonyC » Thu, 08 Nov 2012 2:05 pm

BC1 wrote:Good evening!

I am a British citizen planning on incorporating my company in Singapore. I plan to continue living in the UK and to visit Singapore when necessary/desirable.

I need a non-executive nominee director who is a Singaporean citizen or permanent resident of Singapore. I know somebody who matches that description and he's happy to help me.

However, I cannot find any information about the incorporation process so that I can advise him exactly what we have to do together. Most web sites offer their own nominee director service and so (understandably) keep secret exactly what they do to appoint the nominee director.

Does anybody know what information I need from him (apart from his NRIC, name and address)? And what will I need him to do as I progress through the incorporation?

Also, has anybody seen an example of a contract that is signed between the executive director and the nominee director that relinquishes him of his responsibilities over the company? I would be very interested to see an example please.

Thank you so much for any help or advice you can offer on this matter. I shall be very grateful.

Best regards

Stuart


Hi,

I recommend you approach a firm to help you with the incorporation. Being a first time user, its likely you'll make mistakes, and cost yourself more money later trying to file notice of errors etc.

To keep your fees low, ask a vendor to use your local contact to be:

1. local director
2. company secretary

In addition, perhaps your local contact can offer your office to be your registered mailing address

You should make sure you explain to your local contact, the kinds of responsibilities they have under the Companies Act when taking on these two roles.

If they accept these responsibilities, your incorporation should be swift and not too expensive. They will need to complete a Form 45, and a Form 45b.


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