Singapore Corporate Secretarial Service
According to the Singapore Companies Act, it is mandatory to hire a corporate secretary Singapore, within six months from the date of company registration. This is where SBS Consulting comes into picture for providing excellent quality company secretarial services Singapore. The corporate secretarial Singapore services, imparted by corporate secretarial company like us, will help you in adhering to all the compliance needs.
According to Chapter 50 of the Singapore Companies Act, within six months of formation of a Singapore company, the new business is required to hire a company secretary. The company secretary will hold the position of the head administrative officer. He/she will be responsible for the smooth running of the legal as well as board procedures of the company. He/she will make sure that there is no breach of the rules and regulations.
SBS Consulting is offering competent corporate secretarial services in Singapore for the past several years. We provide you with a qualified, trained, and experienced company secretary Singapore to assist in your organizational functions with minimum fuss. Our corporate secretarial services are comprehensive and cost-effective. Our company secretarial services Singapore are suitable to both local and multinational organizations irrespective of the size. We offer unprecedented secretarial company services to a varied range of sectors.
Importance of Corporate secretary in Singapore
Corporate secretarial services Singapore is gaining popularity because corporate compliance is a complex factor and a tad too intricate to be handled without proper experience and training. ACRA (Accounting and Corporate Regulatory Authority) is the body that governs reporting compliances in Singapore. If ACRA does not receive the company’s annual reports on time, they contact the company secretary. Such is the importance of the company secretary.
We at SBS Consulting, ensure that as a part of our company secretarial services Singapore provide you with a competent staff who would carry out all the nuances in an efficient manner. In addition, our highly skilled and trained corporate secretarial services team advises the clients on statutory compliance needs and corporate governance matters.
SBS Consulting offers integrated corporate secretarial service solutions to its clients, freeing up time for you to focus on your core business activities. With company secretarial services of SBS, you can rest assured that both routine and extraordinary matters of your company are performed in a specialized and effective manner.
Our corporate secretarial services ensure compliance with relevant governing authorities that includes:
Management of Shares
- Share and capital issues
- Transfers and restructuring
- Share allotments
- Share reduction
- Implementing structure changes of company’s share and loan capital
- Implementation and administration of share participation schemes related to directors and employees
- Share registration and maintaining company’s members register
- Entertaining queries and requests of shareholders
- Communicating with shareholders and paying dividends and interests
- Notifying you on filing deadlines, ACRA compliance alerts & reminders
- Ensuring that company complies with the regulations of governing authorities like ACRA and IRAS
- Preparation of minutes and resolutions for board
- Updating the governing body ACRA on company’s director related changes
- Updating the governing body ACRA on company’s name related changes
- Ensuring that the company files accounts and annual returns to ACRA on time
- Your company’s reporting process and decision making process is coordinated
- Arrangement of general meetings and board meetings of the organization
- Meeting agendas with the chairman and the chief executives are formulated
- Holding annual or extraordinary general meetings for shareholders
- Attendance in the meetings and registering the minutes
- Obtaining and circulation of documents to shareholders of internal and external agreements
- Correcting, drafting, and incorporating of procedures
Maintenance of books, reports, accounts, and statutory registers
- Maintenance of minutes book and statutory registers book
- (Directors, members, managers, secretaries, auditors and share transfers)
- Distributing company’s annual reports, interim statements, and accounts
- Preparing director’s report
- Reviewing developments in corporate governance and assisting the directors with respect to their duties and responsibilities
- Ensuring safe custody and proper use of company seal
According to the Singapore Companies Act, a registered company in Singapore is required to appoint services of corporate secretarial services Singapore within six months of its incorporation. The company secretarial Singapore is the chief administrative officer of a company and is responsible for the smooth functioning of the board procedures in compliance with the law. Company secretary Singapore should either be:
- A permanent resident of Singapore, OR
- Should hold any of the three passes: Employment, Dependent, or EntrePass
To Outsource or Not
It is highly advised that the role of a company secretary should be outsourced. This is not said just for the heck of it, but there are many valid reasons to support the argument.
1) Filing with ACRA requires a person to have a ‘professional PIN’. The people who have the requisite knowledge in the field acquire this PIN. In addition, without this PIN it is not possible to appoint a foreign shareholder.
2) An inexperienced secretary can file online but can fail to make the correct resolution, or maintenance of proper paperwork. This will call for changes at a later hour and is very time consuming.
3) Similarly, an amateur company secretary can make mistakes while establishing the financial year-end. If this is done incorrectly, the company can lose revenue in terms of taxes paid.
4) All these mistakes can deem a company to visit the doorsteps of the court of law and to make things worse, the appointed secretary can be penalized or be made liable for fines under the companies act.
What SBS can do For You?
- SBS will appoint a highly qualified company secretary for the clients
- Free consultation services during the year on various corporate secretarial issues.
- The secretary will assist the clients in understanding and complying with the compliance needs.
- Non routine services will be offered with attractive discounts