Yes, once the managing director or an employee obtains an Employment Pass with the company and meets the local resident director requirement, that person can be appointed as the local resident director and the nominee director service can then be ended.
The order matters. The new local resident director must be appointed and the ACRA filing completed before the nominee director resigns, and there must be no period without a local resident director. The deposit is refunded under the terms of the agreement when the service ends.
Whether and when an Employment Pass is issued depends on MOM's review, so it is safer to keep the nominee director service until approval.
Lee Kim Alliance provides Employment Pass application support and a nominee director service.
