Shelfcom through its Managing Director Malcolm W Cooper may accept the appointment as resident director and secretary of Australian companies providing our due diligence on the subject company meets our criteria.

(Mr Cooper is a qualified Corporate Accountant and Chartered Secretary. He has had extensive experience in the administration of client companies around the world and has been providing such services from Australia and Asia and the Pacific for in excess of thirty-three years).

All Australian "Proprietary" companies must have at least one resident Director and "Public" companies, two.

Shelfcom has the background and experience to provide these professional services through its Managing Director, Malcolm W Cooper, Dip Acc, FTMA, FCIS, FCIM, JP.

Our scale fee to provide a resident director is $2,000 per annum (plus 10% GST). This fee covers the acceptance of the position and responsibilities involved. Work actually carried out on the company’s behalf is charged at our scale fees, currently $175.00 per hour or $250.00 per hour (plus 10% GST) depending upon the nature and complexity of the services we are being asked to provide.

Prior to the acceptance of such a position we would carry out a due diligence exercise on the company and its owner(s). This would include being provided with: -

1. Copies of the last two years financial statements.
2. An original ASIC search on the company’s structure at the time of request.
3. Documentary identification on the company’s owner(s) and their residential address(es). If the owner is a company- certified copies of its Constitution, Certificate of Incorporation and a search of its structure as provided by the ASIC or its equivalent in the country of incorporation.
4. Confirmation that the company is in full compliance with the Australian Taxation Office and the Australian Securities and Investments Commission and any other Governmental instrumentality that it operates under.
5. If a Director is being replaced, details of the reason for the Director resigning or being replaced.
6. A fully executed Deed of Indemnity as per our standard, without amendment, from the owner(s) of the company.

As the acceptance of such a position carries a great deal of responsibility and in some cases personal liability, it is a requirement also that we provide a signatory on all bank accounts, brokerage accounts etc. In most cases we will never need to operate on the account but we can provide a cheque signatory service for some companies if their owners require that service.

Each request to act as a resident Director will be treated on an individual basis and our acceptance of the position will be treated on its own individual merits.