We follow the "trust but verification" model. We assume that our customers are well-meaning and honest individuals, and we are very interested in having them as customers. But in accordance with the international rules of AML, we conduct "Know Your Client" audits with our client, as requested by any enterprise service provider to the Singapore government. As a general rule, we need at least the following support information from the main shareholders, final beneficiaries and administrators: this service will be charged to you according to the package you have chosen. We will also pay a deposit from you, which will be refunded. This is important for the responsibility of the appointed director n° Nominee Director cannot open a bank account alone. If you are a foreign director of your company, to open the bank account, banks will insist that both directors sign each company registered in Singapore must have at least one director established in the country. This is an order of the country`s Companies Act. If a foreigner starts a business in Singapore, but does not have a local person capable of being a director of the new company, the foreigner can "hire" a person to act as a director for a fee. Such a director is appointed nominated director or ND; Sometimes the term "local manager" is used. The ND must be a citizen or permanent resident of Singapore and have a permanent address in Singapore. The DECLARATION of Trust (DOT) is an agreement in which the nominated shareholder is appointed to hold the company`s shares for you, but the DOT will indicate that you still have full ownership of your shares. Like the Nominee Director, the Nominee Shareholder acts on your behalf in your company.
Their information is not disclosed on government and corporate documents. The agreement between you and the nominal shareholder is called a Declaration of Trust (DOT). In addition to our appointed director, you must appoint at least one other foreign director responsible for the affairs of the company Some frequently asked questions about the designated director, the role and responsibilities, as well as the professional aspects no As the appointed director is not involved in the management of the company, he will not know anything about these sensitive aspects of your company In the eyes of the law, there is no difference between a regular director and an appointed director.. . .