As per the Singapore Companies Act at least one local resident director is mandatory for a Private Limited company.
If your company is 100% foreign owners, you must appoint a nominee director to fulfil this mandatory requirement of the Companies Act
The nominee director can be
1. A Singapore citizen, Or
2. Permanent resident
and who has a Singapore residential address.
Clients are advised to find a local director in order to proceed with the Incorporation of a Private Limited Company in Singapore.
If you have any difficulties, we can try to introduce a local director to act as nominee director for your company to fulfil the statutory requirement.
The nominee director will have no power or do not have any role in the operation of the company. You can terminate the nominee director service anytime once you have found an alternate local director.
You need to execute the Nominee Indemnity Agreement to protect the nominee director's interest.
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