Advantages of hiring a nominee director when you set up a company in Singapore

Nominees are third party members who act as directors, shareholders or partners when the real identity of real owners needs to be protected. A nominee director is just a name on the records and does not have any control over the day-to-day activities of the business. Most business owners appoint nominees when they start a company in Singapore due to various reasons. Here are the top 4 benefits of appointing nominee shareholder/director,

Protection of privacy

If you want to take control over an organization and do not want your name to appear in any official record of the company, appointing a nominee would be helpful. At the same time, you need not give up your control as you would still be the owner. Also, the nominees would sign a general power of attorney in your favor so that your rights are protected.

Facilitation of the registration process

The nominees can complete the registration process and establish bank accounts on your behalf. You don’t need to travel all the way to the banks for the interview.

Saves you from tax implications

Even if you are running a genuine business outside your country, the profits gained by the offshore company might be taxed by the authorities of your country of residence. In order to avoid it, you must prove that the offshore company is run independently by a director from other country.

It is very simple to replace the nominee director

The basic security offered by the consultancy agencies is to have the nominees sign an undated resignation form. Thus, you can effortlessly reverse the process in no time.

If you want to hire a nominee director, contact a competent incorporation company in Singapore who can bring more profit to your business.