It is a common industry standard in Singapore to take a security deposit when providing nominee director services. This is because although a nominee director lacks authority, the same liability applies and can still be prosecuted for the company’s breaches of the law. The nominee director is required to pay for company liquidation charges in case the foreign client is no longer reachable.  As such, to safeguard the interests of the nominee director, we require that a security deposit be kept with us for as long as our Nominee Director Service is active.

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