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Why Corporate Secretaries are the Backbone of any Business

Last modified: May 17, 2022
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Why Corporate Secretaries are the Backbone of any Business

As per the ACRA mandate, each incorporated company must appoint at least one corporate secretary Singapore to ensure its compliance with the statutory regulations. Many owners appoint corporate secretarial services for professional guidance.

A corporate secretary Singapore is a vital cog in the successful execution of the day-to-day tasks of your company. They streamline all these tasks and ensure the communication and coordination between the company’s different departments towards its legal compliance.

 

Corporate Secretary Requirements

As per the Companies Act, you must appoint a full-time corporate secretary Singapore within six months after the incorporation of your company. You also have the option of enlisting a reliable corporate secretarial services provider.

You need to appoint a secretary who is a natural person and ordinarily resident of Singapore. They are versatile professionals and take care of your company’s administrative, advisory, and fiduciary functions.

 

Administrative Activities of Secretary

Corporate secretary Singapore streamlines your business’ administrative chores and ensures the smooth running of its operations. Your corporate secretarial services provider:

  • Records and maintains minutes of meetings
  • Maintains company’s statutory registers
  • Maintains the company’s incorporation-related and other documents
  • Commissions and submits Annual Returns to ACRA
  • Monitors that the company is following all the applicable legislation to be compliant

The experts assigned to you by your corporate secretarial services provider execute these tasks accurately and in a timely fashion. They help you discharge all your regulatory responsibilities.

The benefit of hiring a corporate secretary Singapore is that company secretaries enable directors to focus on running the company. It is what the directors train for and do. And not to get their hands dirty with the compliance work.

Your corporate secretarial services provider also ensures clearcut communication throughout the company and between the decision-makers from various departments. Their timely reports and inputs about statutory obligations and due dates improve coordination across the management levels and help in synchronising multiple tasks.

Letting the company directors do what they do best and allowing expert secretaries to execute your compliance work automatically increases the effectiveness of your organisation.

 

Secretaries in Advisory Role

You need to appoint a corporate secretarial services provider well-versed with the Singapore Company Act and the Income Tax Act. They also need a firm grasp of the Company Constitution and its internal governance.

An experienced secretary can assist company directors and managers build effective strategies and take efficient decisions. For this purpose, they communicate the latest information and important dates and means of being compliant with rules.

 

Company Secretary’s Fiduciary Role

A company secretary is expected to be honest and act in good faith and protect the company’s best interests. They also must avoid or come clean about the potential conflicts of interests.

Corporate secretarial Singapore must be meticulous, dedicated, and competent in executing its responsibilities. They must complement the management’s efforts and do their bit to take the company to the next level.

 

SBS Consulting’s Corporate Secretarial Team

SBS Consulting Pte Ltd has a strong team of qualified corporate secretaries. They are highly experienced and professional in executing secretarial duties within the Singaporean regulatory framework.

Since 2010, we have offered corporate secretarial services to small, medium and big corporates. Our secretaries provide support for all aspects of your company’s administrative obligations. Whenever a client gets in touch with them, they respond promptly. Our secretaries share an expert’s view on their compliance needs and how we can serve them better.

 

Our Corporate Secretarial Services for Small Businesses

You can rely on us for:

  • Maintenance of minute book
  • Maintenance of statutory registers of company directors, shareholders, managers, secretaries, auditors, and share transfers
  • Circulating the company’s Annual Reports, interim statements, financial statements and management reports
  • Preparing the Director’s Report
  • Ensuring corporate governance
  • Assisting company directors in discharging their duties and responsibilities
  • Safe-keeping of the custody and proper use of company seal

SBS Consulting is a registered filing agent in Singapore and can legally interact and file documents with regulating agencies like MOM, ACRA and IRAS. Our secretaries are net-savvy and know how to use the Singapore government’s e-portal services to ensure your compliance.

We also offer Singapore affordable company incorporation services and customised bookkeeping, accounting and taxation services to small businesses. Call us at +65-6536 0036 or at info@sbsgroup.com.sg to know more about our corporate secretarial services and discuss your compliance needs.

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