Amongst others, one of the key requirements for incorporating a company in Singapore is that it should have at least one resident director. While a local Singaporean resident can become a resident director of his own company himself, it is mandatory for a foreigner looking to register company in Singapore to have a resident director in his company in order to proceed with company registration in Singapore. As ACRA States, “A director must make decisions objectively, act in the best interest of the company, avoid conflicts of interest, and be honest and diligent in carrying out his duties.” The director is the most important stakeholder in a Singapore company considering that he or she is the person responsible for managing the affairs of the company and providing it with directions about how to go ahead both practically as well as on papers. For More information visit this link: http://precursor.com.sg/role-responsibilities-singapore-company-resident-director/

1. Role and responsibilities of
Singapore company
resident director
Amongst others, one of the key requirements
for incorporating a company in Singapore is
that it should have at least one resident
director. While a local Singaporean resident
can become a resident director of his own
company himself, it is mandatory for a
foreigner looking to register company in
Singapore to have a resident director in his
company in order to proceed with company
registration in Singapore.

2. As ACRA States, “A director must make
decisions objectively, act in the best interest
of the company, avoid conflicts of interest,
and be honest and diligent in carrying out his
duties.”
The director is the most important stakeholder
in a Singapore company considering that he or
she is the person responsible for managing the
affairs of the company and providing it with
directions about how to go ahead both
practically as well as on papers.

3. Definition and key requirements:
According to Singapore companies act, a
director is “any person occupying the
position of director of a corporation by
whatever name called and includes a person
in accordance with whose directions or
instructions the directors of a corporation
are accustomed to act and an alternate or
substitute director”.

4. “A Singapore Citizen, Singapore Permanent
Resident, an EntrePass holder or an
Employment Pass holder issued with such a
pass to work in the company concerned and
who has a local residential address can be
accepted as a person who is ordinarily
resident here,” notes the Authority.
The director should be minimum 18 years of
age and physically as well as mentally fit to
carry out director’s duties.

5. Major role and responsibilities
There are two major statutory requirements
that a Singapore company director must
fulfill. It is penalizing and punishable offense
under Singapore law if they do not fulfill the
following requirements:
•The Convening and holding of the company’s
Annual General Meeting (AGM)
•The subsequent filing of its annual returns
by the specified due dates (normally within a
month of the AGM)

6. Normally, during an AGM, dividends are
declared, directors are elected, auditors are
fixed and their remuneration is determined,
company’s accounts and Balance sheets are
considered, and any other “special business”
as required is conducted.
If the above two are not met, either a penalty
is imposed on the company or legal action is
taken against the company directors.

7. Record keeping:
It is the responsibility of Singapore resident
director to ensure that the company maintains
the following registers at the company’s
registered office:
• register of members
• register of directors, managers, secretaries
and auditors
• register of directors’ shareholdings
• register of charges
Any changes in the content of the above
registers must be notified to ACRA immediately.

8. Director’s Resolution of a
Singapore Company
Directors’ resolutions, or board resolutions,
which are usually passed by a simple
majority during company meetings include:
• Opening of a bank account resolution
• Appointment of company officers
including directors, auditors and company
secretary
• Any other resolution as indicated either in
the Companies Act or in the company’s
constitution
The director must inform about such
resolutions to company secretary, with
who’s help such details are to be kept up-to-
date and notified to appropriate authorities.

9. Other duties:
In addition to the mandatory requirements,
Singapore company director is responsible
for various day-to-day operations of
company including:
• ensuring corporate governance
• practice corporate social responsibility
• adopting ethical and socially responsible
practices
• engaging with society

10. Role of a Nominee Director in
Singapore Company
A nominee director in Singapore is a person
appointed to satisfy the requirement of
setting up a company in Singapore. Singapore
company Nominee director has the same
obligations and responsibilities as those
imposed on a regular director by the
Companies Act and the common law.
For foreigners looking to register company in
Singapore, it’s extremely important that they
choose someone really trustworthy as
Singapore resident director.

11. It’s also important that such a resident director
is able to hold and guard company’s
confidential information so that as a foreign
entrepreneur doing business in Singapore, you
are able to focus on your business operations
with ease.
At Precursor, we offer the services of providing
trustworthy nominee director in Singapore
who can not only efficiently be the resident
director and comply with all statutory
requirements, but a trusted partner in your
business that can act in accordance with your
visions and instructions.

12. For More information visit this link:
http://precursor.com.sg/role-responsibilities-
singapore-company-resident-director/