What Is A Nominee Shareholder?

In Singapore, the Singapore Companies Act has mandated having at least one shareholder for Singapore private limited companies

. It applies to all individuals and corporation. More importantly, it is not necessary for the shareholder to be a Singapore resident.

Upon incorporating your Singapore or offshore company, you can nominate yourself as a shareholder of the company. Alternatively, Rikvin, Singapores leading corporate solutions specialist can provide you with a Singapore Nominee Shareholder with which will help you secure your corporate privacy.

It is not uncommon for clients to engage Rikvins Nominee Shareholders Service to retain anonymity for the purpose of privacy. Rikvins service offers Nominee Shareholders that will hold shares on trust for the beneficial owners. Only Rikvins Nominee Shareholders will be identified on the Register of Shareholders.

Normally, the process of employing nominee shareholder service should be made clear to clients in order to avoid issues on confidentiality and trust. For the purpose of privacy, some clients do not wish to be identified as shareholders of the companies that they have set up and will therefore wish to appoint nominee shareholders. At Rikvin, Nominee Shareholders Service provides each client with a signed declaration of trust in which the appointed Nominee Shareholder holds shares on behalf of the beneficial owner. The Nominee Shareholder is not the legal owner of the shares. The shares shall be returned to the beneficial owner when the service is terminated or transferred to another party per beneficial owners request. All income and capital gains on the held shares belong to the beneficial owner.

In order to ensure identity as beneficial owner, there would be a Nominee Shareholders agreement, an agreement that is only known to corporate solutions provider and not put on public record at the Company's Registry.

by: Shayne Hughes

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