A Director is responsible for managing the affairs of the company and setting the company’s strategic direction. A Director is required under the Companies Act to ensure accurate and timely record keeping, prepare financial statements (if applicable) and comply with corporate filings and other disclosures. The director also has the legal duty to advance the interests of the company, act honestly and in good faith in exercising the given powers. The consequences of breaching the director’s duties can be both civil and criminal in nature. Different offences carry different levels of penalty. For common offences, a Director could be liable up to a fine of S$5,000 or even imprisonment of up to two years. Other offences can result in disqualification from being a Director for a period of 5 years.

No, the Nominee Director cannot manage or be involved in the operations of the Company.

The Nominee Director will neither be the bank signatory to the corporate account nor play an active role in the Company. The Nominee Director will only be the named Director of the Company, in order to fulfil the statutory requirements.

If you're a foreign entrepreneur, Singapore law requires at least one local director for company incorporation. A nominee director helps fulfill this requirement, allowing you to set up and run your business in Singapore.

Yes, you can terminate the Nominee Director Service anytime by providing us with the details of an alternate local resident Director.

The Nominee Director runs the risk of being taken to court should a company, or its other Directors break the law. Therefore, it is imperative that he or she monitors the activities of the company closely to ensure that it complies with any regulatory requirements. In view of such liability, StarTeam conducts a comprehensive KYC review before entering into a Nominee Dire ctor service agreement with our clients

Directors of the company are legally responsible and accountable for complying with the requirements of the Singapore Companies Act. Failure to adhere to the statutory compliance requirements is an offence and may result in fines or prosecution.

• Business Profile of Company - Provided by ACRA (Can be extracted via Myinfo Business)
• Memorandum and Articles of Association / Constitution
• Directors’ Particulars (Can be extracted via Myinfo/Sumsub)
• Shareholders’ Particulars (Can be extracted via Myinfo/Sumsub)

Yes, a nominee director can be the sole director for the company. However, StarTeam does not currently provide nominee director services for companies that do not have another foreigner/local director.