Asiabizservices Offers Affordable Singapore Nominee Services
The Nominee Agent Service can help in the incorporation of branch office quickly, and in most cases, act as temporary agents until the appointed foreign staff members have obtain their Employment Passes or suitable Singapore residents are found and appointed as agents.
by Tony Lacson Tuesday, March 15, 2011
Asiabiz Services is a Singaporean business solutions and processes provider especially committed to assist foreign companies as they comply with business registration requirements in the city-state, where doing business is the easiest from among 118 economies canvassed by the International Finance Corporation during the fourth quarter last year.
Nominee services are catalogued as among Asiabiz’s specializations. It provides three nominees: shareholder, resident director, and agent. Both the shareholder and the resident director are requisites in incorporating a company.
“A nominee shareholder holds stocks in trust in behalf of the beneficiary owner. Its purpose is to conceal the identification of real shareholder, especially that in Singapore, the personal details of every shareholder and director are included in the Memorandum and Articles of Association,” shares a business consultant of Asiabiz.
“Many investors seek anonymity particularly or even when they invest abroad,” adds the female business consultant.
A Memorandum of Agreement is forged between the investor and Asiabiz outlining terms and conditions. It can be on a short-term or on a long term basis relative to the mutual agreement.
Meanwhile, a nominee resident director is Asiabiz’s bestseller. Based on the Company Act of Singapore, a locally incorporated company is headed by a resident director of ordinary residence. When appointed, an individual ought to be of legal age and capacity, not bankrupt or guilty of any malpractice.
“He is among the locals, either a citizen or a permanent resident,” explains Asiabiz.
Nonetheless, since foreign management is allowed in Singapore just as foreign ownership is, the government of Singapore lets foreign nationals be appointed as the resident director after obtaining an Employment pass.
Even with such stipulation, not all investors are ready to relocate to Singapore to consummate such position, however, thus, the nominee director.
Under such service, the nominee director shall lend his or her name and residential address until such time when the investor has found the qualified individual to be appointed as director or until the labor pass is released by the Ministry of Manpower.
“It could also be a long-term contract. Many investors take advantage of the passport-only entry policy (certain conditions apply) and stay in Singapore for a few months, or for those who are required, they can apply instead for a Long-Term Social Visit pass to afford them to stay longer and tend to their business,” chimes Asiabiz.
Moving on, a nominee agent is for a branch. The Company Act prescribes branch offices to appoint two agents of ordinary residence or foreign by having an Employment pass and who shall assist in the administration of the branch.
“Our nominee agent can help in the company until such time when the appointees are ready to take over the position,” concludes Asiabiz.
For more information, visit:
Asiabiz Services Pte Ltd (see location map)
120 Telok Ayer Street
Phone: (+65) 6303 4614
Fax: (+65) 6303 2670
Singapore Company Formation Service, We provide company registration,incorporation, immigration, accounting and taxation services to entrepreneurs and businesses worldwide.
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