Why You Need Nominee Director Services
1. Meet Director’s Residency Requirement
It is mandatory for every company in Singapore to have at least 1 director who is a Singapore citizen, permanent resident, Entrepass or Employment Pass holder. This is according to the Companies Act.
In case you are a foreign investor, a nominee director is required to act on behalf of you. This will enable you to set up a local business in Singapore and manage it from your own country.
2. Settle Local Logistical Matters
While you are overseas, your nominee director can undertake functions such as opening corporate bank accounts, registering with government organisations and obtaining special licenses.
By appointing a local nominee director to handle these matters, you can save the trouble, time and money of travelling to Singapore to do them yourself.
What’s Wrong with Most Nominee Director Firms
1. They Do Not Provide Additional Values
When opening up a business in Singapore while you are based in another country, you require a nominee director who can go that extra mile for your business, someone who can provide you with more than just a name in your records.
Your nominee director should be able to provide insights on the best practices in human resources, accounting or management. Most nominee director firms are incapable of providing this.
2. They Delay Your Incorporation Process
There are many disorganized and inefficient nominee director firms in the industry. Some can take up to a month to incorporate your company and appoint a nominee director.
Without a nominee director, you will be unable to open a corporate bank account or rent an office. This causes frustration and a loss of opportunities for you and your company.
Why Should You Choose GEO
We do not just act as your nominee director. We advise you on the best practices in management, accounting and human resources to optimize your business.
At GEO, our nominee director ensures that your business always stays compliant with the statutory requirements of the Companies Act to avoid any penalties, fines or even the cessation of your company.
Our nominee director exercises qualified judgment, care and diligence on your business to ensure that your company can operate smoothly even if you might not be present locally.
GEO has a vast pool of able specialists who can ensure the registration of your company with our nominee director within 48 hours. The sooner your business is established, the sooner you will be able to earn profits from the market in Singapore.
Everything is simple as we will help you to prepare all the necessary documents for the incorporation of your business. This allows you to focus on the other essential responsibilities of starting up your company such as hiring and marketing.
GEO provides a full spectrum of corporate services including accounting, incorporation, tax planning, auditing, corporate secretarial and nominee director services.
You can enjoy great convenience when you engage GEO for all these services that are essential to any companies in Singapore.
Why Should You Trust GEO
With over 20 years of field experience, our past clientele includes a broad range of industries, ranging from Small and Medium Enterprises (SME) to Multinational Companies (MNC).
Our accountants and advisors are certified and approved by:
- The Accounting and Corporate Regulatory Authority (ACRA)
- The Institute of Singapore Chartered Accountants (ISCA)