The table below clarifies the division of responsibilities between the ND and you, the owner of the company.

Division of roles

To comply with the international AML regulations, we perform the "know your client" checks on our client as every Corporate Service Provider is required to do by the Singapore government.

We will typically require at least the following supporting information from the key shareholders, ultimate beneficiaries, and directors:

• Verification of identification and address proof documents.
• Professional background information. This can be in the form of a curriculum vitae (CV), resume or link to the person’s LinkedIn profile.
• Purpose and plans for the Singapore entity

If the company will have a corporate shareholder, we will also require verification of the corporate profile of the shareholding company.

The following general terms apply for our ND service:

• As required by Singapore law, we will perform a KYC due-diligence check on the client prior to commencing our services.
• Our ND will not be involved in any business matters of the company. The ND will not make any management decisions, execute any operational documents, or provide any financial guarantees on behalf of the Company.
• You must execute our Nominee Director Indemnity Agreement. It is a contract between the ND, the company that requires the ND service, and you — the owner of the company. On the one hand, it protects you by ensuring that the ND is prohibited from taking any actions that are harmful to the company. On the other hand, it protects the ND by confirming that the ND can not be held responsible for the management decisions of the company's executive directors.

Also, depending on the risk profile of your company, additional terms for our ND services may apply.

The risk profile is determined by our compliance team during the KYC due-diligence process and influenced by the following factors:

• Background and prior history of the company shareholders
• The complexity of company's corporate structure
• The nature of the company's business activities
• Anticipated annual turn-over of the company
• GST-registration status of the company
• Business licensing requirements for the company

Our KYC team will assign a risk-classification of Low, Medium, or High to the company.

Our terms of service include the following:

• Our standard annual nominee director service fee applies. No security deposit is required in this case.
• You must subscribe to our annual company secretary, registered address, and tax filing services.
• You may do your own bookkeeping in Singapore.
• We will conduct a standard KYC due-diligence assessment once every two years.
• You must ensure the Company follows all relevant laws and remains solvent.
• You must inform us of any changes that may affect the risk-profile of the company.

Approximately 85% of our clients fall under this risk profile.

Our terms of service will include the following:

• Our ND fee will include an additional charge to account for the increased risk monitoring required from our compliance team. For planning purposes, you can assume that the annual service fee will be twice the amount of our standard service fee.
• A security deposit may be required. The amount of deposit will be determined on a case-by-case basis.
• You must subscribe to our annual company secretary, registered address, tax filing, and monthly bookkeeping services.
• KYC due diligence process will be conducted once every year.
• You must ensure the Company follows all relevant laws and remains solvent. You must inform us of any changes that may affect the risk-profile of the company. You must also agree to provide clarifications regarding any specific financial transactions if such clarification is sought by us as part of our routine risk monitoring checks.

Approximately 14% of our clients fall under this risk profile. Note that a company's risk profile may be changed to Low-Risk in subsequent years after we have a better understanding of your business.