As a part of our company secretarial service, ACS offers Nominee Director Service that allows foreign corporations to incorporate in Singapore.
Singapore does not allow foreign entities or people to register or incorporate a local entity.
ACS has taken into consideration by introducing Nominee Director Service thus enabling foreign companies to incorporate in Singapore and do business.
Nominee Director Service offered by ACS provides the required local presence and starts at $200/month.
The cost may rise depending on the risk and the size of the business.
The Nominee director is the foreigner business owners’ face on the ground. The nominee directors take care of the foreigners’ legal responsibilities and provide day to day practical management needs.
Therefore we can say our nominee Director Service provides foreign business owners with all the assistance they need as they open their doors in Singapore.
The Singapore Companies Act states that it is a requirement for at least one resident to serve as a director for the .
The Nominee Director is expected to have a and can either be:
1. Entre pass holder
2. A Singapore citizen
3. A Permanent Resident (PR)
4. Employment Pass (EP) holder or
5. Dependant Pass (DP) holder
The Nominee Director will have the following fiduciary duties:
1. Submitting corporate returns on the tax to Inland Revenue Authorities of Singapore (IRAS)
2. To conduct Annual General Meetings (AGM)
3. File the Annual Returns (AR) to the Singapore Accounting Compliance Regulatory Authority (ACRA)
Nominee Director Service is a low-risk way for foreign-owned businesses to adhere to Singapore’s Government rule as the Nominee Director is held liable for all the statutory requirements.
This, therefore, means that if ACS were the Nominee Director of the company, they would be liable to ensure statutory requirement has been adhered to.
Singapore enjoys political stability, and it’s pro-business and tax friendly policies. As a result, it is a to venture and invest in.
ACS has a simple, streamlined process that allows businesses to meet the government requirements and incorporate the business without even setting foot in Singapore.
Incorporation can be completed within less than two (2) hours when using ACS.
Apart from Nominee Director Service, ACS also offers a :
1. Accounting services;
2. Payroll outsourcing services;
3. Corporate tax services;
4. Annual Return (AR) filing;
5. Secretarial services; and
6. Striking off / liquidation
Customizable accounting solutions packages are available to meet any business need.
ACS is the leading specialist in providing for businesses in Singapore.
The company mission and vision are to be a one-stop provider of company secretarial business solutions that cater for small and medium enterprises in Singapore.
To request a custom quote, please send us an online enquiry and we will get in touch with you.