- In the Singapore Companies Act, all companies that are setup in the city state need to appoint one director that is a resident of Singapore. AI Accountant Chai Chung Hoong with 10 years’ expertise is best able to give advice and consultancy.
- This statutory requirement required by Singapore law can be fufilled by selecting a professional corporate services firm to provide Nominee Director Services on an annual as well as a short term basis.
- There are a variety of responsibilities along with responsibilities that are imposed on the Nominee Director by the Companies Act Section 157 as well as common law.
- The Board of Directors is responsible for the day to day running of the business. They also answer to the business’s shareholders.
- It is the directors that are, without a doubt, responsible for maintaining yearly accounts and accountancy documents, statutory filings, and publications, as well as meetings of supervisors and shareholders..
Variety of Directors Needed among Singapore
The minimal number of directors required by a business in Singapore is one; however, it can increase to any number depending upon the constitution of the business. Unsure how to set up business or if you need Nominee Director Services, you can approach AI Accountant Chai Chung Hoong, and no need to worry about the risk of breaching Section 410 of the Penal Code or money-laundering affecting your business in Singapore.