Nominee Director Malaysia

Act of a Nominee director Malaysia who will not hold a single number of shares of a company. A local person is appointed as the nominee as safeness policy of the government. It is not easier to trust an unknown person who is appointed as a nominee. Officer of local and foreign banks ask the nominee about the company background. A nominee is powerless but acts as an important role of a company. A consent from nominee is needed when the foreign shareholding company gets the approval of a bank loan. A nominee director is questionable if a company fly without a payback bank loan.

Responsibility of a nominee director Malaysia

Company Act, 1965, Section 132 (1E) A director, like an employee of organization, or who act as substitute director for short period, shall bear in mind to act with honestly, shall not subordinate responsibilities to act in the for the entity to his duty to other.

Terms and conditions being nominee director Malaysia of your company:

• Nominee shall never interfere into business of the company and neither signatory of bank nor act as signatory of bank account;
• If any wrong activities are done by the directors (share holders) of the company without knowledge of Nominee will not take any responsibilities;
• Nominee will not come to take any seat and/ or attend any meeting unless requested by the directors (share holders);

• In case of any debt of the company will not be borne by nominee;
• Nominee shall not be working in your office as regular staff;
• Nominee shall neither act as share holder nor perform as director of the company;

• Directors (share holders) will notify the nominee one month before termination of service;
• If any activities are done by nominee director beyond of knowledge of share holders (directors) will be terminated nominee immediately;
• Unless any changes are made will auto renew nominee service for next year;

Nominee director fee in Malaysia

Note: Security deposit is required, refundable. Thanks

Finding reliable nominee of your company, residing Malaysian is might not be easier being foreign investors unless know someone local. In that case, read terms and conditions and sign with nominee director service provider in Malaysia. To register/ form SDN BHD, a private limited company as law nominee director has to be appointed who is residing of Malaysian. You may want to know about Sdn Bhd Malaysia company.