Duties of Resident Directors in Singapore

Testing Text... of FUN

Testing

Hello World

Message Board > Duties of Resident Directors in Singapore

Duties of Resident Directors in Singapore

Page: 1

Guest
Guest
Jul 01, 2025
3:55 AM

In Singapore, resident directors play a critical role in ensuring that a company complies with local laws and regulations. A resident director must be an individual who is either a Singapore citizen, a permanent resident, or someone holding an Employment Pass or EntrePass. This requirement helps the government maintain effective communication with companies registered in Singapore.

The primary duty of a resident director in Singapore is to oversee the company’s operations and ensure that it acts within the legal framework. They are responsible for making key business decisions, safeguarding company assets, and protecting shareholder interests. Resident directors must ensure that the company complies with the Singapore Companies Act, including filing annual returns and financial statements on time.

Another important responsibility is to maintain proper accounting records and ensure transparency in financial reporting. Resident directors are also accountable for ensuring that the company adheres to tax obligations, including the timely submission of tax returns and the payment of taxes.

Additionally, resident directors have a fiduciary duty to act in good faith and in the best interests of the company. They must avoid conflicts of interest and exercise due diligence in all company matters.

Overall, resident directors play a vital role in maintaining corporate governance standards, promoting business integrity, and supporting Singapore’s reputation as a trusted global business hub.

Post a Message