Nominee Director

Nominee Director

Category: Corporate Governance Available
For more information, visit our official website at cgcorpsec.com

Description

According to the Section 196(4) of the Companies Act 2016, there should be at least ONE director must ordinarily reside in Malaysia, by having a principal place of residence in Malaysia. Other requirements are as below (to be fulfil by all directors):-
Under section 213, 217, 218, 228 or 539, within a period of five years preceding the date of this declaration.

In a lot of cases, foreigner who wish to set up a company in Malaysia, they will face difficulties to fulfil the “residential address” requirement above. So, it is advisable they engage a Nominee Director to fulfil the requirement. 

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