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The Singapore Companies Act requires every registered Singapore Corporation to have at least one shareholder. This shareholder may either be a shareholder or a corporation or not necessarily be a resident of Singapore.  Thus, a shareholder in Singapore may either be a Singapore citizen, a permanent resident or a holder of an employment pass or dependent pass.  The Companies Act also requires that all personal information of all shareholders, directors, and officers of the corporation shall be indicated in the corporation’s Memorandum and Articles of Incorporation.
Upon incorporation, the names of the shareholders will be open to the public as they will be listed in the records of the Singapore Accounting and Corporate Regulatory Authority (ACRA). However, there are individuals who want to protect their identity and secure corporate privacy. It is on this instance that a nominee shareholder is needed.  A nominee shareholder holds the shares of a corporation in trust for the actual owners, more commonly known as the beneficial owners, and in effect is an ostensible but registered and legitimate shareholder. The records of the Register of Shareholders in the Singapore Accounting and Corporate Regulatory Authority will list the name of the nominee shareholder and not that of the beneficial owner. A nominee shareholder acknowledges that he is not the legal owner of the shares that he holds. He undertakes to return the shares to the beneficial owner once the nominee shareholder service is terminated or transferred to another party upon the request of the beneficial owner.  Ownership of all the income and capital gains acquired by the shares held by the nominee shareholder is retained by the beneficial owner. A nominee shareholder may sometimes need to sign an agreement or declaration of trust that he is holding the shares in trust only for the beneficial owner in order to assure the beneficial owner of the protection of his shares.
Appointing a nominee shareholder is an alternative that could best suit your corporate needs especially in protecting your personal information and assuring your privacy as a shareholder.  There are a number of independent firms that offer the service of providing you with a Singapore Nominee Shareholder in order to help you maintain your anonymity and secure corporate privacy.  By employing the services of these firms, you can be assured that the nominee shareholder you appoint is professional and understands the extent of his rights and responsibilities as such shareholder.
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