If you are planning to open a business in Malaysia as a foreigner, it is a big advantage to your business to apply a nominee director. In this article we will explain the importance to have a nominee director in Malaysia. <\/p>\n\n\n\n
What is Nominee Director ? <\/strong> All individual acting as directors, including nominee director for a company have big responsibilities. For example, in case other directors of the company have become unavailable or leave the company \/ business, the nominee director remaining in the country have to bear all liabilities left by other directors. <\/p>\n\n\n\n What does a Nominee Director Do? <\/strong><\/p>\n\n\n\n Nominee director is a professionally appointed individual hired by a company usually by foreign shareholders to meet certain compliances in running a business in Malaysia. A nominee director is responsible to provide professional support and compliances, attend board meetings, and act in the interest of the nominator company. A nominee director is also allowed to provide bank signatory, upon agreement with other directors.<\/p>\n\n\n\n Why is it important to have a Nominee Director ?<\/strong><\/p>\n\n\n\n If you are a foreigner and you are planning to start a business in Malaysia, it is important to have a nominee director for certain issues. First, a 100% foreign owned company are required to apply for WRT License with a minimum paid up capital of RM1,000,000 to start some business categories in Malaysia. If you have a local individual appointed as the nominee director being the major shareholder, this requirements will be exempted. Second, having a nominee director will provide you with a more accurate local market analysis based on his\/her expertise, experience and insight by being a resident in Malaysia. Third, there are some businesses that could not be conducted if you are a 100% foreign owned company, such as computer shop, low to medium end restaurant and so on . Having a nominee director will allow you to run these businesses with no exemption. Fourth, in order to register a new company in Malaysia it is required to have a residential address with supporting documents (tenancy agreement \/ utility bill). If you are a foreigner who does not reside in Malaysia, hiring a nominee director will provide you with a local residential address for your business registration.<\/p>\n\n\n\n Who can be a Nominee Director ? <\/strong><\/p>\n\n\n\n Any Malaysian over the age of 18 can be appointed as a nominee director for a company.<\/p>","protected":false},"featured_media":5950,"template":"","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}}},"class_list":["post-5942","article","type-article","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\n
Nominee Director is a local individual appointed by the company to act as a local director for the company. <\/p>\n\n\n\n