Incorporating a company in Singapore can be a daunting task, especially for foreign entrepreneurs. One of the key requirements for registering a company in Singapore is to appoint at least one local director. This is where a nominee director comes in. A nominee director is a person who acts as a front for the real directors, allowing them to maintain their anonymity and protect their interests. Here are 5 reasons why you should consider getting a nominee director for your business in Singapore.
Protect Your Privacy
One of the biggest advantages of having a nominee director is the ability to maintain anonymity. As a director of a company, your personal information is available for public viewing on the Accounting and Corporate Regulatory Authority (ACRA) database. By appointing a nominee director, you can keep your personal information private, thus protecting yourself from unwanted attention and potential scams.
Comply with Local Regulations
Appointing a nominee director can also help you comply with local regulations. Singapore law requires that at least one local director be appointed for every company incorporated in the country. By appointing a nominee director, you can ensure that your company is in compliance with the law and avoid any potential legal issues.
Save Time and Costs
Appointing a nominee director can also save you time and costs. The process of registering a company in Singapore can be lengthy and complicated. By appointing a nominee director, you can delegate the responsibility of meeting local regulatory requirements, allowing you to focus on running your business. Additionally, nominee director fee is typically lower than the cost of appointing a full-time local director.
Access to Professional Services
When you appoint a nominee director, you also have access to professional services that can help you run your business. Corporate service providers such as 3E Accounting Pte Ltd, can provide a wide range of services such as accounting, taxation, and compliance to help you navigate the legal and regulatory landscape of Singapore.
Finally, having a nominee director allows for flexibility. The nominee director is not involved in the day-to-day operations of the company and does not have any decision-making authority. This allows the real directors to have full control over the company, while still meeting the legal requirements for appointing a local director.
Appointing a nominee director is a smart business decision for anyone looking to incorporate a company in Singapore. It allows you to maintain your privacy, comply with local regulations, save time and costs, access professional services, and have flexibility in running your business. We recommend considering 3E Accounting Pte Ltd as your corporate service provider for nominee director services and other business-related services. Appointing a nominee director can be a great way to protect your interests while you focus on growing your business in Singapore.