I applied for a Letter of Consent (LOC) for secondary directorship. Why was I rejected due to there being no common corporate shareholding relationship?

Question

Accepted Answer

You are only eligible for secondary directorship if both the primary and secondary companies have a common company shareholder. Do note that this common shareholder must be a company.

If both the primary and secondary companies are only linked by you as an individual shareholder, you will not be eligible for the LOC.

If there are any changes to the common corporate shareholding relationship, you may submit another request for our assessment.

I applied for a Letter of Consent (LOC) for secondary directorship. Why was I rejected due to there being no common corporate shareholding relationship?

Topics:

Related questions

Can EP holders be registered as directors in another company apart from the company their pass is approved under?

Do Overseas Networks & Expertise Pass holders require a Letter of Consent to hold secondary directorship?

How do I appeal if my secondary directorship request is rejected, or had submitted wrong information?

The EP holder is working for company A and is listed as a director in ACRA for company B. Can he take up a secondary directorship position in company B before getting an LOC?

Need more help?