Corporate Secretarial Services Singapore: An Essential Aspect of Private Limited Company

by Sneha Patil Top Singapore Company Registration Company

The demand for professional corporate secretarial services Singapore is on the rise. The reasons are being the necessity and cost-efficiency of the outsourcing services. As per the Singapore Companies Act, every private limited company in the city-state must appoint a company secretary within six months of its incorporation. The national regulator, i.e., ACRA (Accounting & Corporate Regulatory Authority) oversees whether all companies are adhering to the laws or not.

A person who is ordinarily resident in Singapore (Citizen, PR or bearer of Employment Pass) is legally eligible to apply for company secretary. In addition, he/she must have sound knowledge of Singapore Companies Act. The position of a company secretary is as respectable as other officials such as directors, shareholders, and auditors.

company Secretary in Singapore

Many people wrongly assume that a company secretary is clerical. It is one of the key pillars of the organization. Essentially, the job of the corporate secretary is not just confined to meeting compliance requirements but also extend to implement a process to promote good corporate governance within the organization.

Who can become a company Secretary in Singapore?

A Singapore citizen, PR or holder of Employment Pass;
The minimum age of the candidate must be 18 years.
The person must be well versed with the regulations of the local jurisdiction.
A director can also act as the company secretary of the company unless he is the sole director.

Benefits of Outsourcing to Company Secretarial Services Singapore

Outsourcing the secretarial services to a good third-party firm is always a wise decision when compared to hiring an in-house employee. It is cost-efficient, convenient and result-oriented than in-house staff.

The service delivered by these firms strictly adhere to the laws and regulations of Singapore jurisdiction. It eliminates the fear of being penalized for non-compliant issues.
You will have peace of mind as the firm will alleviate all the burden of administrative and legal matters.
There will be no headache of recruiting, training, managing, and firing of in-house secretarial staffs.
It is convenient for entrepreneurs especially the foreigner who will get most of the services related company incorporation under one roof.
You may get free company secretarial services offers with incorporation packages of reputed firms like SBS Consulting.
A good firm appoints company secretaries who have rich knowledge in the respective areas and vast experience to deal with critical situations. They know how to tackle the challenging matters.

Roles & Responsibilities of Company Secretarial Services Singapore

A secretary is accountable for fiduciary activities of an organization which cannot be ignored. He ensures that all compliance issues have been met within the deadlines. In the event of delay or non-compliance, it is the corporate secretary to whom the authority will contact with.

Similarly, the secretary is entirely responsible for maintaining the important documents such as company incorporation papers, director’s report, shareholder agreements, M&AA and annual report.

Additionally, a Singapore company secretary is also responsible for handling below stated jobs:

Maintain statutory registers and records of the company.
Arrange and hold AGM (Annual General Meeting) for directors and shareholders.
Ensure the annual filing has been done on behalf of the company.
Ensure timely filing of Annual Returns mandated by law
Provide A to Z administrative and legal support to the board.
Stay conversant with the ongoing statutory obligations of authorities like ACRA.
Maintain amiable relationship with shareholders.
Ensure that the board's decisions are circulated among the shareholders.
Safe custody and proper use of the company seal is assured.

If you want to focus on productive activities of the business to witness optimal growth in it, make sure to outsource your corporate secretarial services Singapore to a good third-party firm. The productivity level of your business will boost while maintaining good governance within the company. Believe it or not, outsourcing is the best bet when it comes to non-core aspects like secretarial services.

About Us/Bio:

SBS Consulting is a renowned corporate secretarial firm in Singapore. The company houses a team of efficient and dynamic professionals who have vast knowledge and experience in the areas of their expertise.

Contact Info:

SBS Consulting Pte Ltd

Visit: https://www.sbsgroup.com.sg/

High Street Centre,

#17-02, 1 North Bridge Road,

179094 - Singapore

Phone: +65-6536 0036

Email: info@sbsgroup.com.sg