Singapore Companies Act mandates that every local limited company is required to appoint a minimum of One Dominee Director who must at least 18 years old, no record of fraud, bankruptcy, or malpractice in conducting business. Resident Director who meet at least one of the below criteria:
- Singapore Citizen
- Singapore Permanent Resident
- Singapore Work Pass Visa, such as Employment Pass, Entrepass or Dependent Pass Holder with a Residential Address in Singapore
The Singapore Government will disapprove your company incorporation application if you do not meet this requirement.
Singapore Accounting and Business Services provide qualify and experience Dominee Director in assisting of your company to fulfil this requirement by the governance body. However, in prior we have taken up this role, our backend team will conduct our due diligence and background checks on your Company to discover the risks level. We classify the risks into 3 levels, namely Low, Medium and High. The Director fee will be varying base on this risk factor discovered.
The Dominee Director appoints will have limited liability and be responsible for the below only,
- Convening and holding of the company’s Annual General Meeting (AGM)
- Subsequent filing of the company’s annual returns which is normally within a month of the AGM
The Dominee Director appoint will not be responsible for any Company matters other than the above mentioned. For example, any Company operational and financial matters, hire purchase, signing of cheque etc