Nominee Director Services with Singapore’s Most Trusted AI Accountant Chai Chung Hoong
Need a nominee director? AI Accountant has got you covered with our Nominee Director Services package. Incorporating a new company in Singapore should be an exciting time in an entrepreneur’s life. A time to look forward to new beginnings, and now you can with peace of mind thanks to AI Accountant. Account Manager Chai Chung Hoong and his team of experienced professionals help you take care of everything with our full-range of services to help you comply with the Companies Act.
A Nominee Director Is Part of the Company Compliance Requirement in Singapore. Have You Got Yours Yet?
So, you’re just about ready to begin your incorporation process. Your paperwork is done. Your name is picked out. But have you appointed a nominee director yet?
Why Do I Need a Nominee Director?
Every company registered in Singapore must have a minimum of one nominee director. This is a mandated requirement by the Companies Act, specifically in Section 157(1) of the Companies Act (Cap 50). This person needs to be ordinarily resident in the country. If you don’t have one, AI Accountant can assist via our Nominee Director Services.
AI Accountant’s services for this package can be purchased on a short-term or annual basis. To help you fulfil this requirement for the Company Act, our partner will appoint one of our own outstanding team members to act as your company’s nominee director.
What Is a Nominee Director’s Role?
A nominee director obligations are part of the Section 157(1) of the Companies Act (Cap 50) and common law requirements.
With most companies in Singapore, the powers lie with the board of directors. They will be responsible for overseeing the company’s affairs. The directors are the ones who need to answer to the shareholders too.
AI Accountant’s Nominee Director Services are for compliance purposes only. The provisions of service will be subject to the following:
- The nominee director will not be involved in the day-to-day management of the company.
- The nominee director will not handle financial and operational matters.
- The nominee director will not execute documents on the company’s behalf.
- The nominee director will not sign personal guarantees relating to the company’s indebtedness.
What Can You Expect with AI Accountant’s Nominee Director Services?
At AI Accountant, we serve your needs and your requirements come first. For this service, there will be a nominee director fee incurred and a refundable security deposit payment for our services. The purpose of the deposit to merely to safeguard our nominee director’s interests.
Once you have located a suitable nominee director, you may terminate our services at any time. The security deposit will be refunded upon cancellation once the change is in effect with the Company Registrar.
Let AI Accountant Chai Chung Hoong and the AI team help you meet your statutory compliance for the Company Act. For more information regarding our services, visit our website or contact us for more information.