Asiabizservices Provides Singapore Nominee Director Services
January 21, 2011 - In doing business, investors consider the possibility of financial accountability that could ensnare them should a business fail. Businesses structure that envelopes its investors with financial protection in caseof an unfortunate turn of businessdraws a lot of favor. Such is the case of a private limited company, manifested in a corporation or a subsidiary office in Singapore. Endowed with its own legal personality, authorities deem corporations and subsidiary offices as an independent, legal entity which is eligible for engaging in legal transactions such as acquiring assets including holding portions of shares in another company, real estate, liquid and other tangible properties; and participating in lawsuits to fulfil the role of a plaintiff or a respondent. Headed by a resident director who maintains executive powers, a corporation or subsidiary choosesits own activities and manner of operations. Apart from the resident director, there shall also act a shareholder and a company secretary, both of whom can own shares in a corporation. “In case of lossesand liability, financial resources and personal assets of shareholders and directors are not included for liquidation to settle financial obligations,” utters Asiabizservices on the advantage of running a company accorded with legal existence. Although Singapore permits absolute ownership by foreign nationals, its Companies Act prescribes requirements corresponding to the three positions: “Each must be of legal capacity and age, and not be an undischarged bankrupt or guilty of malpractice.” For foreign nationals to earn and hold these positions in Singapore, an Employment pass is a requisite. Nonetheless, stipulated in ACRA’spolicy is the incorporation of a company before an application for an Employment passis processed by the shareholder, company secretary, and resident director. Asiabizservices continues, “A resident director is required to hold an ordinary residence in Singapore. However, in the absence of such requirement, a labor passis necessary.” In some circumstances, where the absence of a resident director becomes a hindrance, Asiabiz Services provides the nominee director service to satisfy such requirement. “Our nominee director lends his complete name, legal capacity, and local address to our clients so the incorporation with ACRAbecomesvalid.” Relative to the investor’s needs, the service may be momentary such as until the Employment pass has been released by the Ministry of Manpower or long term as the investor himself is unable to live and work in Singapore. Asiabizservices provides business solutions such as company incorporation, business registration, assistance in compliance with requirements, and accounting and chartered secretary service.
About the Publisher: Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign
entrepreneurs form a Singapore company. Among its specializations are Singapore company setup, corporate services, accounting services, nominee services, company registration, whether as a sole proprietorship, private limited, limited liability partnership; offshore company formation, incorporation of foreign companies either as a branch or subsidiary office, accounting services including payroll preparation and more. Asiabizservices is the leading provider of Singapore Company Incorporation services and has successfully helped thousands of both local and foreign entrepreneurs incorporate a Singapore Company. It also provides chartered secretarial services.
For more information visit: AsiaBizServices PTE LTD Address: 120 Telok Ayer Street Singapore 068589 Phone: +6563034614 Email: firstname.lastname@example.org Website: http://www.asiabizservices.com/
Published on Jan 20, 2011
Published on Jan 20, 2011
In some circumstances, where the absence of a resident director becomes a hindrance, Asiabiz Services provides the nominee director service...