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Beaufort Nominee Agent Service for Branch Offices
The registration of a Branch Office requires two Resident Agents. The following persons can be Resident Agents:
Singapore citizens or permanent residents;
Holders of Employment Pass/EntrePass/Dependant’s Pass.
Beaufort can provide you with two Resident Agents through our Nominee Agent Service.
Alternative to Nominee Agent Service
Alternatively, you may appoint staff members from your home country as Branch Agents. Those staff members will have to obtain valid Employment Pass in order to relocate and run the Branch Office in Singapore.
The Nominee Agent Service can help register your Branch Office quickly. In many cases, the nominees act as temporary agents until the appointed foreign staff members have their Employment Passes or suitable Singapore Residents are found and appointed as Agents.
Conditions for Beaufort Nominee Agent Service
We will provide the branch office with Nominee Agents provided the followings conditions are met:
The service is offered for statutory compliance only. The Nominee Agents will not be involved in any management, financial, or operational matters of the company.
The parent company must appoint one or more individuals to be responsible for running the Branch Office operations.
The company must satisfy Beaufort’s initial and ongoing KYC requirements.
The company must execute our Nominee Agent Indemnity Agreement.
We will also require a refundable security deposit for the provision of the Nominee Agent Service. The service can be terminated at any time. The parent company, however, must appoint new Singapore resident agents to meet the statutory requirement.
Security Deposit is in addition to the Service Fees. The security deposit is refundable and it is held for the duration of the service. It will be refunded to you upon termination of the Nominee Agent Service.