Nominee Shareholders in Singapore
The Nominee Shareholder is provided by our Company in order to shield, or help the real owner of the Company from being publicly associated with the ownership of that company.
ACRA Requirements relating to shareholders
The Companies Act requires all Singapore private limited companies to have at least one shareholder who is either an individual or a corporation. The shareholder must be a Singapore citizen or have a residence permit. The legislation allows foreign investors setting up companies in Singapore to appoint nominee shareholders to act on their behalf. The nominee shareholder must also appear in the Singapore Accounting and Corporate Regulatory Authority’s records.
If you appoint a nominee shareholder, he would give the impression that he is the owner of the shares, and you get to keep the arrangement a secret, which protects the identity of the real owners. Consequently, you retain all of the rights and benefits in the shares, such as the right to sell the shares, receive dividends, and vote at general meetings.
Why Take Up Our Singapore Nominee Shareholder Services?
Looking for Singapore Nominee Shareholder Services in Singapore?
There are various legitimate reasons for using our nominee shareholder arrangement. However, the most common reasons would be to:
- Keep one’s identity as the owner of a company confidential
- Comply with the requirement that at least one director of a Singapore company is a locally-resident person
We offer you with Nominee Shareholders to serve as company owners. They will not have business management rights in your company. Hence, if there are any voting rights in the corporation or Limited Liability Company, the actual rights will be transferred to you as our client.
When you appoint us as your Nominee Shareholder to hold your shares on behalf, your benefits and your personal details are always protected and private & confidential. We will sign a Nominee Shareholder agreement called, “Declaration of Trust”. This service needs to be renewed every year and it can be stopped at any time upon request.
What’s the Nominee Shareholder Agreement in Singapore?
When appointing a nominee shareholder, the owner of the shares will draft a declaration of trust, also known as a nominee agreement which will be signed by both parties. Through the declaration, the nominee shareholder will acknowledge they have no right over the shares and that will transfer them whenever requested. Nominee shareholders in Singapore will also sign an instrument of transfer. These types of documents are usually undated.
It is important to note that nominee shareholder arrangements are not illegal under Singapore law. This is as long as:
- The arrangement is used for legitimate reasons
- The existence and identity of the beneficial owner are recorded for the benefit of public agencies such as the Inland Revenue Authority of Singapore and the Accounting and Corporate Regulatory Authority
How We Can Help Your Business
Our Singapore company formation representatives offer a wide variety of services, including nominee shareholders services. For complete information about the legal requirements for appointing a nominee shareholder, please contact our experts for a free consultation TODAY!
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You will get a month’s worth of bookkeeping. Whether or not you continue with us, your reports for the month are yours to keep.