How to set up a Singapore Company with a Nominee Director?
If you are an individual who wishes to start a company in Singapore but does not want to relocate to Singapore to run company operations, you need to understand the complete process for registering a company in Singapore. For this you can:
- Appoint a trusted contact, or
- Opt for a resident nominee director service in order to fulfil the Singaporean companies’ statutory requirement of a resident director.
Requirements to Register a Singapore Company
Compliance with the stipulated requirements for company registration in Singapore serves as a crucial aspect in the process of forming a business entity. Ensuring adherence to the following specific standards is imperative:
- Minimum 1 Shareholder
- 1 Resident Director
- 1 Company Secretary
- Minimum paid-up capital of S$1
- A local registered office address
Addressing these fundamental prerequisites diligently facilitates the seamless registration of a Singaporean company and ensures that the business complies with the necessary rules and regulations set by the authorities.
To proceed, you will need to do the following:
- Engage Rikvin to assist you in the registration of the company
- Appoint a Singapore resident director or engage our Nominee Director Service.
We can provide you with a Nominee Director on a long-term basis or a temporary one until you find a suitable local director to represent your company. We will transfer the directorship once you have appointed a new local director.
Required Registration Documents
- Copy of NRIC/FIN/Passport personal page of Directors/Shareholders
- Completed/signed KYC Form
- Bank Reference Letter
- Proof of Address (e.g. bank statement, utility bill not older than 3 months)
For Corporate Shareholders:
- Copy of the Certificate of Incorporation of the holding company
- Copy of business profile “Extract” of the holding company
- Copy of passport personal page of Parent Company’s representative who will be signing the incorporation documents
Step 1 – Submit Your Request and Provide Incorporation Details
Upon receipt of your company details, we will:
- Check your proposed company’s name availability.
- Follow up with you to clarify queries (if any) and advise accordingly.
- Send you an invoice for our services.
Step 2 – Make Payment
We will commence with the preparation of incorporation documents upon receiving the payment for services as reflected in the invoice. We accept payment via cash, cheque, telegraphic transfer and credit card.*
You will then have to sign the incorporation documents either in Singapore before us or before Notary Public if you are overseas.
*(Admin surcharges apply.)
Step 3 – Incorporate Company and Open Bank Account
Upon the signing of the incorporation documents, we will proceed with the registration of your company with Accounting and Corporate Regulatory Authority of Singapore (ACRA).
Once the company has been incorporated, we will help you open a corporate bank account.
Company Registration of Singapore Company
Our service for incorporation of a private limited Singapore Company includes:
- Name check and reservation
- Preparation of memorandum & articles of the company
- Preparation of registration forms
- Professional & Filing Fees
- E-Certificate of incorporation
- Preparation of compliance corporate kit, including share certificates, register and minutes book
- Minutes of first board meeting
- Resolution to open a bank account
Singapore Companies Act requires all Singapore Companies to appoint a Company Secretary to handle on-going Statutory Compliance Matters.
We will act as your company secretary and this service includes:
- ACRA Compliance Alert & Reminders
- Named Company Secretary registered with ACRA for 12 months
- Maintaining the statutory books, preparation of all relevant minutes for Directors’ and Shareholders’ meetings.
Singapore Nominee Resident Director Service
If you do not have a local Singapore resident director to meet the requirement of the Singapore Companies Act, you can engage our Nominee Director Service. We will provide you the service of a local Nominee Director for your company, provided the followings conditions are met:
- The service is offered for statutory compliance only. The Nominee Director will not be involved in any financial or operational matters or management of the company.
- You must appoint one or more individuals (normally the company shareholders) to be the directors that are responsible for running the company operations.
- You must satisfy our initial and on-going KYC requirements.
- Execute our Nominee Director Indemnity Agreement.
We will also require a refundable security deposit for the provision of the Nominee Director Service. The service can be terminated any time at your convenience. You, however, must appoint a new Singapore resident director to meet the statutory requirement. Security Deposit is in addition to the Service Fees. The security deposit is refundable
Registered Office Address
The companies Act requires all Singapore incorporated entity to have a Singapore-based registered address.
- All Singapore Companies require a local registered address for official communication.
- Rikvin can provide a prestigious address if you don’t have one.
- If this option is terminated prematurely, any unused amount is refunded on a pro-rated basis.
FAQ – Company Registration Service with Nominee Director in Singapore
- Yes, foreign individuals can register a company in Singapore. They need to appoint a local resident director.
- No, foreigners can engage an incorporation service and manage the process remotely.
- With all documents in order, the process typically takes 1-2 days.
- Companies need to file annual returns and hold an annual general meeting.
Singapore Company with a Nominee Director
Get Singapore company incorporation with a nominee director package.Trust Rikvin for guidance on the cost of registering a company in Singapore. Call now!