Why do I need to appoint a resident director?
In several countries around the globe, entrepreneurs incorporating a new limited liability company are legally required by the local authorities to appoint a resident director who may either be: i) a citizen or ii) a foreign national with a valid residency permit. It will be mandatory for the resident director to have a local address in the country and to be currently living in the country. For example, in Singapore and Hong Kong and Ireland, Mr. Aidan Healy, who is Irish citizen and Singapore permanent resident, will be legally allowed to be resident director.
How Healy Consultants can help?
- Should our Clients have difficulties finding a resident director, Healy Consultants offers professional, passive nominee director services in every country in the world. Our fees are outlined in the table below;
- Having Healy Consultants as the professional, passive nominee director increases i) the probability of timely corporate bank account approval ii) employee visa approvals iii) specific Government licenses;
- Healy Consultants professional, passive resident director appointee will neither be a corporate bank account signatory nor play an active role in our Client’s business. Healy Consultants officers will merely be the resident director of the company in order to fulfil the local statutory requirements. Our Client will solely be responsible for daily business activities and for corporate bank account activity. Healy Consultants rarely signs business contracts on behalf of our Client’s company;
- Healy Consultants and our Client will sign a legal contract outlining terms and conditions and limitations of the resident director appointment;
- For a high-risk business, Healy Consultants Group PLC annual professional passive nominee resident director and shareholder fees may be higher. For example, Bitcoin / Crypto-currency business or retail forex brokerage business etc. Before we sign an engagement letter, the exact annual fee will be agreed between our Client and Healy Consultants Group PLC;
- Please click on the regional headings below to see our fees for resident director services for various jurisdictions all across the world.
Jurisdiction Number of directors required Fees/director Australia 1 AU$5,910 Brunei 1 US$6,600 Hong Kong 1 US$1,950 India 1 US$4,600 Indonesia 1 US$7,950 Japan 1 US$5,750 Malaysia 2 US$3,350 Mauritius (GBC1) 2 US$3,250 New Zealand 1 US$7,550 Philippines 3 US$3,420 Russia 1 US$9,950 Singapore 1 US$2,500 Thailand 1 US$9,870 Vietnam 1 US$4,600 Jurisdiction Number of directors required Fees/director Algeria 1 US$17,500 Botswana 1 US$6,600 Cameroon 1 US$6,600 Egypt 1 US$7,550 Mauritius (GBC1) 2 US$3,250 South Africa 1 US$9,950 Sudan 1 US$8,600 Tunisia 1 US$30,000 Zambia 1 US$6,150 Zimbabwe 1 US$5,000 Jurisdiction Number of directors required Fees/director Belarus 1 US$6,600 Finland 1 €8,600 France 1 €5,320 Iceland 1 €6,600 Ireland 1 €4,325 Liechtenstein 1 €7,500 Norway 1 €6,600 Sweden 1 €6,600 Switzerland 1 €8,500 UK 1 £3600 Jurisdiction Number of directors required Fees/director Argentina 1 US$8,400 Paraguay 1 US$15,800 Canada 1 US$7,850
What are other reasons to appoint a resident director?
In some jurisdictions, it can be beneficial for our Clients to appoint a resident director even though it may not be mandated by law. For instance:
- In Jersey and Isle of Man, appointing resident directors will allow the company to be 100% tax exempt if the company is not involved in the i) financial industry ii) oil & gas industry and iii) in the provision of utilities
- In Armenia, appointing a resident director increases the probability of non-travel to the country when incorporating a company. After the company has been incorporated, our Client can easily remove the nominee director and appoint themselves as the director;
- In Nigeria and South Africa and Russia, the bank account signatory can only be an individual who is either resident in the country or holds a valid work permit. To apply for a work permit in these countries, the time taken for approval can be higher than 4 months and the initial share capital required can be as high as US$250,000.
In such cases, Healy Consultants would be pleased to offer you our resident director services. Please contact us at the number below for more information.