Every Singapore company must have at least one director who is ordinarily resident in Singapore.
The resident director must be a natural person who is at least 18 years old, mentally capable of carrying out the role and not disqualified or otherwise prohibited from acting as a company director.
A Singapore Citizen or Singapore Permanent Resident who ordinarily resides in Singapore will generally be able to satisfy the local residency requirement. Certain valid pass holders may also meet Singapore's local residency rules, depending on their immigration or work-pass status.
Foreign Identification Number (FIN) holders should check with their pass issuer, such as the Ministry of Manpower (MOM) or Immigration & Checkpoints Authority (ICA), before accepting a directorship. Depending on the type of pass and the circumstances of the appointment, additional approval may be required. Holding a Singapore work or stay pass should therefore not by itself be treated as confirmation that a person is entitled to act as the company's resident director.
Your local director could be a co-founder, business partner or trusted associate who meets the statutory requirements and is willing to accept the responsibilities of being a director. The person does not have to be a shareholder of the company.
All directors have statutory and fiduciary responsibilities to the company. These duties apply regardless of whether the individual is an executive director, non-executive director or nominee director.
If none of the founders, shareholders or other persons associated with the business meets the local residency requirement, a foreign founder may appoint a nominee resident director. Where a person acts as a nominee director by way of business, the appointment is subject to Singapore's Corporate Service Providers regulatory regime.
Apexia Corporate Advisory can provide a nominee resident director service for qualifying clients, subject to client due diligence, risk assessment and acceptance requirements.