Corporate Secretarial Services for Your Private Limited Company
The business owners need to deal with questions like, "Who can act as an effective company secretary for my small business?", "Where to find such an individual?", "Will it be affordable?" or, "Are corporate secretarial services really cost-effective?"
Singapore Company Law dictates that a secretary must be a natural person who is ordinarily resident of Singapore. The Singapore residents or an Employment or Entrepreneur Pass holders qualify to act as such. Every incorporated company must appoint a corporate secretary in Singapore within the six months of its registration.
Why You Need to Hire a Company Secretary
The Singapore authorities have effectively separated administrative and business activities for the companies. A secretary's role and responsibility are to assist the directors in ensuring that their company fully comply with rules & regulations of the law. There are several Singapore company secretarial services that can provide such an expert. Many of these firms offer combo incorporation packages which render services including that for company secretary.
Whereas, the managerial staff is expected to take care of the business activities leading to the generation of revenue and profit and that concerned with the growth of the business. The hiring of corporate secretary in Singapore relives the pressure on managers and lets them focus on the tasks for which they are hired. It leads to the optimum use of the skilled and qualified resources.
Affordable Company Secretarial Services
"No." The hiring of one of the experienced corporate secretarial services like SBS Consulting Pte Ltd is not that costly. For an affordable annual fee, you can retain the services of one such provider. Most importantly, nowadays, it is a trend in Singapore to outsource the business' non-core tasks. The experienced company secretarial services provide their clients with general advice and assistance in the following areas.
Role & Responsibilities of Company Secretary in Singapore
The secretary advises directors on company constitution and proceedings. The secretary will keep the advice in the context of the M&AA. They also advise on compliance matters that are directly influenced by the Singapore Companies Act. The company secretary in Singapore,
- Incorporates any changes to the Company's constitution. They also advise directors & Management on the procedures for it.
- Reminds and notifies directors about the Annual Return filing, the appointments of officers & auditors and other company secretaries, etc.
- Co-ordinates with auditors/accountants & ensures timely preparation of financial reports.
- Takes care of board resolutions/ordinary or special resolutions/minutes as per the request of directors.
- Assists in the preparations of resolutions for sale of assets, dividends, & acquisitions.
- Convey AGM and EGM
- Takes the minute of the meeting and offers statutory advice.
- Files changes in the officers and in the constitution of the company with ACRA
- Files annual returns and XBRL filing
- Handles transfer of shares
- Notifies changes in the particulars of Director(s) and Shareholder(s) & the company name to ACRA
- Maintains & updates company's statutory registers & Directors Registers, Shareholders Registers, Auditors Registers
- Ensure safekeeping of company seal
In addition, a secretary is also responsible for the corporate governance of the company. The professional functions as a vital link between the board of directors and the shareholders and takes care of registration of shares disbursement of dividends, interest, rights issues, and also monitors the movement in shares. A company secretary is an important company official in the eyes of regulating agencies in Singapore like ACRA, IRAS, & MOM. The agencies are strict in enforcing the laws and regulations.
It makes sense to hire experts from the best of all corporate secretarial services. You get experts to take care of your statutory compliance and most importantly, it takes the pressure off the management and let it work concentrate solely on the growth of your business. You can also hire company secretarial services to replace your existing secretary cheaply.
SBS Consulting Pte Ltd
High Street Center,
#17-02, 1 North Bridge Road,
179094 - Singapore
Phone: +65-6536 0036