You'll receive a verification email you'll have to open and confirm the subscription.

Follow us on social media:

Download our app‍s‍:

Download on the App StoreGet it on Google Play
Singapore
  • Hong Kong
  • UK
  1. Osome Blog Singapore
  2. Who is a Nominee Director?

Who is a Nominee Director?

Who is a Nominee Director?
Who is a Nominee Director?

If you don’t have a resident director for your Singapore company, you’ll need a Nominee. We explain how it works and what his role is.

Or you can just get incorporation services from us and we'll do everything for you. Just saying.

Do I need a Nominee Director?
What is the Nominee Director’s role?
What is the Deed of Indemnity?
What is the procedure for hiring a Nominee?
How much does a Nominee Director service cost?
What is a Security Deposit?
Can I replace the Nominee Director?
Next steps

Do I need a Nominee Director?

Your Singapore company can have as many directors as you want, but at least one needs to be local. You can be one yourself if you are Singaporean, or a Permanent Resident, or an Employment Pass holder from your own company. You can also ask a friend to play the role. Otherwise, use the Nominee Director service. For example, there can be two directors: you and the nominee.

What is the Nominee Director’s role?

Most importantly, the Nominee’s role is to comply with the law that requires a resident on board. He has no authority to run the company. His powers are specifies in his contract — a Deed of Indemnity.

However, a Nominee is still a director and as such, he or she has to act in the interests of the company and in compliance with the law.

What is the Deed of Indemnity?

It’s a contract between the Nominee and the company that requires his service. On the one hand, it protects you by ensuring he can’t make any decisions that are detrimental to the company or sign any documents without instructions from a list of authorized persons. On the other hand, it protects the Nominee by specifying he can’t be held accountable for the decisions of the actual board.

What is the procedure for hiring a Nominee?

After you’ve hired a Nominee, it needs to be recorded in the Register of Nominee Directors of your company. It contains details on the nominator (that's you) and it’s the Nominee’s responsibility to make sure that this data is kept correctly. Normally the agency providing the service deals with it.

How much does a Nominee Director service cost?

The price for a year of service provided by the local agencies ranges between S$1,800 - S$5,000. Many agencies also require you to place a refundable security deposit of S$2,000 on top of that.

What is a Security Deposit?

Taking the security deposit is an industry standard in Singapore. At Osome, we don't require it anymore, but most agencies do. It works as an insurance for the nominee. Once the Nominee’s contract expires, you get the deposit back.

Can I replace the Nominee Director?

Sure. For that, you need to get an Employment Pass from your own company. That takes about 6 months to receive, so you’ll still need a Nominee Director while you’re waiting. Getting the Employment Pass will cost you about S$800 - S$1,200, plus you need to have a monthly salary of at least S$6,000.

Next steps

If you do not know who to turn to, contact us. We charge yearly and refund the unspent money if you refuse the service earlier than planned. To get additional information, use our secure chat.

Share this post:

Tips to run your business smarter.
Delivered to you monthly.

You'll receive a verification email you'll have to open and confirm the subscription.

You might like it

A Guide to Central Provident Fund (CPF) for New Employers
A Guide to Central Provident Fund (CPF) for New Employers
Entrepreneur's Bootcamp

A Guide to Central Provident Fund (CPF) for New Employers

When you set up your company in Singapore, you will have to eventually hire to grow your business. As an employer, legal obligation to contribute to the Central Provident Fund (CPF) of staff who are Singapore citizens or Permanent Residents. Find out what exactly you need to know to stay compliant.

Skills Development Levy: How Much Must Employers Pay on Their Staff?
Skills Development Levy: How Much Must Employers Pay on Their Staff?
Running My Business

Skills Development Levy: How Much Must Employers Pay on Their Staff?

This article will elaborate on this less well known statutory fund that all employers need to pay on each staff they have. Find out how to pay it and more in this article.

Hiring Foreign Talent: The Difference Between an Employment Pass and S Pass
Hiring Foreign Talent: The Difference Between an Employment Pass and S Pass
Running My Business

Hiring Foreign Talent: The Difference Between an Employment Pass and S Pass

Once you’ve registered your company in Singapore, and start looking to expand your operations. You might want to hire talent from overseas. Find out the difference between S-Pass and Employment so you can hire correctly and stay compliant.

A Guide to Setting Up a Special Purpose Vehicle Entity
A Guide to Setting Up a Special Purpose Vehicle Entity
Incorporation

A Guide to Setting Up a Special Purpose Vehicle Entity

In the last few years, it has been getting really popular for startups to create a SPV to help with the company financing, to attract investors to invest funds and receive equity when investing in the startup. Find out how to get one set up.

Filing Financial Statements: Does My Company Need to Do This?
Filing Financial Statements: Does My Company Need to Do This?
Accounting

Filing Financial Statements: Does My Company Need to Do This?

The general rule is that it’s always good to prepare your financial statements but do you have to file them with ACRA too? Find out in this article.

From CPF to GST: Things to Check as Your Business Grows
From CPF to GST: Things to Check as Your Business Grows
Running My Business

From CPF to GST: Things to Check as Your Business Grows

Companies who are growing will find that they have many administrative things to do too such as calculating Skills Development Levy (SDL) and CPF Registration.

Setting Up an E-Commerce Company in Singapore
Setting Up an E-Commerce Company in Singapore
Entrepreneur's Bootcamp

Setting Up an E-Commerce Company in Singapore

There are a lot of opportunities in the region with an e-commerce business. Find out how to start your own company officially with this article.

Osome Raises US$3m in Funding from XA Network and AltaIR Capital
Osome Raises US$3m in Funding from XA Network and AltaIR Capital
News

Osome Raises US$3m in Funding from XA Network and AltaIR Capital

The accounting and corporate compliance super app will use funds to further develop its engineering, product development, and marketing.

Guide to Setting Up an Offshore Company in Singapore
Guide to Setting Up an Offshore Company in Singapore
Foreigner's guide

Guide to Setting Up an Offshore Company in Singapore

Get to know the popular industries offshore companies open in, how to register for one, and what taxes you’d need to pay.

What to Tell Investors so They will Fund Your Startup
What to Tell Investors so They will Fund Your Startup
Running My Business

What to Tell Investors so They will Fund Your Startup

Talking someone into giving you money is hard, especially if we are talking millions. Osome Blog asked 3 founders who succeeded, 1 startup scout and 1 product lead to share their experience. Here’s what they told us.

When Should a Freelancer Register a Private Limited Company?
When Should a Freelancer Register a Private Limited Company?
Entrepreneur's Bootcamp

When Should a Freelancer Register a Private Limited Company?

When you’re ready to grow to the next stage of your business, you might be wondering what to do next. Read on.

What Is the Know Your Customer (KYC) Process All About?
What Is the Know Your Customer (KYC) Process All About?
Entrepreneur's Bootcamp

What Is the Know Your Customer (KYC) Process All About?

Get to know about this important step and what documents to provide to help your corporate service provider incorporate your company quicker.

We’re using cookies! What does it mean?