Singapore companies need to appoint at least one company secretary within six months of its registration. The task is critical, and many directors select a reliable provider of corporate secretarial services in Singapore. Here is info on how to choose the best provider of Singapore corporate secretarial services for your company.
What is a Company Secretary?
A secretary functions as the chief compliance officer of the company. The appointee communicates the due dates of the statutory filing and AGM to the directors and shareholders. They also coordinate with the officials of ACRA, IRAS, MOM, etc.
Singapore Company Incorporation
You need someone to help you out with the rules and regulations to run your company correctly in Singapore. A competent secretarial service can assist you in incorporating your Singapore company.
It is very true for foreigners wanting to set up their business in Singapore. Some of these providers even offer a highly affordable incorporation package that comes with Free services like Company Secretary for the first year.
Roles of Company Secretary
A secretary is one of the officers of the company. They take care of the administrative functions & statutory obligations for it. The company secretary’s roles can be summed up as follows:
- Implement appropriate corporate governance within the company
- Communicate with non-executive directors
- Maintain the company’s statutory registers
- Supervise the preparation and filing annual accounts
- Notify ACRA about notice of share transfer, the amendment to company constitution, changes in the company
- Share allotments and transfers
- Proper use of company seal
- Ensure restructuring, acquisitions, and mergers are in the best interest of the company
- Ensuring company’s letterhead, notices, and other official publications carry company name and UEN
- Ensure the company is working within the framework of the company constitution
- Convey AGMs and board meetings
- Advise company directors, provide them with info
- Act as the first point of contact for shareholders and protect their interests. Provide them with financial statements
- Supervise written communications, preparation of reports, presentations, and spreadsheets
- See to the storage of physical and digital documents like emails, reports, etc.
Experience & Knowledge
You should not appoint any random corporate secretarial services in Singapore for the critical aspects of the company. You should ensure that the firm has a competent team to take care of your legal compliance. Ask about their qualifications and experience. They must be thorough with the Singapore Companies Act and ACRA’s annual requirements.
The firm’s corporate secretarial services fees should fit your budget. Fortunately, there are many providers available in Singapore, and you can get competitive prices. However, know that it is not the only yardstick to choose a service provider—their quality of the service matters.
Find How Reputed the Firm Is
Find a provider with a credible image. It takes years to build a good reputation. So, if a business associate refers to a provider, check them out first. It may end your search for the best provider of Singapore corporate secretarial services. Pay attention to mouth publicity, reviews, feedback, etc. if it is possible to visit their official site physically.
Discuss your business needs with the provider of corporate secretarial services in Singapore. Find if they will be able to scale their services to meet your legal compliance within the specified due dates. Find out the scope of their company secretary service.
Find out what additional services they can provide beside their standard package. Will the firm render guidance/ consulting service to you if the need arises?
Choosing the right provider of corporate secretarial services in Singapore matters. The firm can assist you with relevant info, legal advice, and timely guidance to secure your corporate governance. You can rely on their vast knowledge of the local laws and jurisdiction to keep you out of trouble with the authorities.