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Nominee Agent in Singapore

Nominee Agent in Singapore

Setting up a company in Singapore requires a local national or resident to carry out certain procedures related to the company formation process. Usually, the nominee agent is the one making sure the company registration procedure in Singapore goes as required by the law and in accordance with the requirements of the Accounting and Corporate Regulatory Authority. The nominee agent is a person or a company appointed by the owner of a company to handle the incorporation process of a company in Singapore. In certain cases, the Singapore nominee agent can also fulfill custodian roles related to holding securities or other assets on behalf of a beneficial owner.

Our company registration agents can assist foreign investors who want to open companies in Singapore.

Who can be a nominee agent in Singapore?

As mentioned above, both individuals and companies can fulfill the role of nominee agent in Singapore. Individuals must meet the following criteria in order to become Singapore nominee agents:

  • they must be at least 18 of age;
  • foreign citizens must have a Singapore residence or work permit;
  • they must have the required qualifications requested by the General Insurance Association in Singapore.

The last requirement applies to individuals offering nominee agent services related to the custody of securities. Also, Singapore companies acting as custodian nominee agents must have a minimum share capital of 25,000 SGD. It is important to know that the Singapore nominee agent will not be involved in the management of the company.

Nominee agent services available in Singapore

Our Singapore company formation specialists offer nominee agent services to foreign investors interested in establishing any type of company in the city-state. Among the nominee agent services we provide are:

  • filing the company incorporation documents with ACRA;
  • tax and GST registration with the Singapore tax authorities;
  • maintaining contact with other state institutions.

Apart from the nominee agent services, you can also rely on us for nominee shareholder, director, and secretary services.

Who can use a nominee agent in Singapore?

The general idea is that the nominee agent is used by foreign businesspersons and companies interested in having local representation in Singapore. While this was the case when this type of service was created, nowadays, this solution has expanded to Singaporean residents.

Nominee agent services are available for foreign and Singapore investors, as well as companies interested in doing business in the city-state and cover multiple areas. You can use such services when you need representation with the local authorities without hiring an employee for this purpose only.

If you want to set up a company in Singapore, you can rely on us, as our experts can also offer such services.

Types of businesses you can set up with the help of a Singapore nominee agent

Nominee agents are usually employed to open businesses in Singapore, and among the types of entities that can be incorporated with the help of such a service, we mention the following:

From a legal point of view, the Company Law requires foreign-owned companies to have at least one local representative, case in which the nominee agent is one of the best solutions for this purpose.

Foreign businesses interested in opening branch offices in Singapore must designate 2 Singaporeans or foreign employees to serve as local agents. Foreign employees must relocate and get Employment Passes in order to legally work in the city-state. As an alternative, a nominee agent can be used to simplify things as much as possible.

Using such an agent comes with multiple benefits, among which:

  • access to professional solutions;
  • a variety of service providers, as in Singapore this profession is recognized and authorized;
  • the possibility of continuing using these services including after the incorporation of an enterprise.

If you have any questions about this service, please get in touch with our Singapore company formation advisors.

Representation services available through nominees in Singapore

In Singapore, it is possible to delegate a third-party to represent the shareholders and directors of a company through nominee agents. The main benefit when using such a service is that the nominees’ names will be recorded with the Accounting and Corporate Regulatory Authority as part of the registration process.

One of the legal requirements related to company registration in Singapore is having at least one local director, and as such a nominee agent can assist foreign persons or foreign businesses in the incorporation of the enterprise and serve as a company director.

The nominee director will play a passive role and will not engage in the daily operations of the business. However, the appointed agent will make sure that the firm complies with all legal requirements and that its yearly returns are filed on time. So, it is safe to say that such a service can be used from both legal and practical points of view.

Company statistics in the second quarter of 2023

Singapore is one of the most appealing destinations in Southeast Asia when it comes to business registration. According to the most recent data gathered by the Accounting and Corporate Regulatory Authority:

  • in September, the total number of companies registered in the city-state reached 585,593;
  • out of these, 423,478 were corporate forms registered as private and public entities;
  • 143,135 were non-corporate entities registered as sole proprietorships and partnerships;
  • 886 of all businesses offered professional services.

For complete nominee and company incorporation solutions, do not hesitate to contact company formation representatives. We can also assist any foreign investors who would like to open a company in Singapore.