Why Do You Need Corporate Secretarial Services for Your Company?
A company secretary ensures smooth functioning of the board procedures in compliance with the law. He/she acts as a chief administrator of the company. Things become very easy, when the administrative work is handed over to the company secretary. This happens mainly because the company secretary is trained to handle such type of office work diligently. One more advantage of hiring a professional corporate secretary Singapore is that, it frees up a company’s time, which can eventually be spent on improving the core business activities.
Still confused about hiring a company secretary Singapore, ask yourself the following questions –
1) Will it be possible for the CEO, or the director, or the accountant to stay on top of every statutory regulation of all the governing bodies in Singapore?
2) Is it possible to stay well updated with the ever-changing tax laws?
3) Is it possible to stay connected with every shareholder, and calculate the exact dividend that he owns?
These three questions are primary, and if your answer is NO to at least two of them, then you must say YES to outsource these activities to a Singapore corporate secretarial services provider firm. Apart from the ones given above, there are several more reasons, which would drive you to handover these tasks to a company secretarial services provider firm. A few tasks carried out by a company secretary are given below –
1) Notification for various document filing deadlines, ACRA compliance alerts & reminders
2) In person, e-filing or paper filing of annual return to ACRA
3) Establishing and maintaining the statutory registers
4) Managing shares, which includes issuing and transferring of correct shares among the shareholders
5) Communicating with shareholders and paying dividends and interests
6) Distributing company’s annual reports, interim statements, and accounts amongst the shareholders
7) Handling structural changes of company’s share and loan capital
8) Preparation of minutes of meeting and resolutions for board
9) Formulating meeting agendas with the chairman and the chief executives
10) Safeguarding and using the company seal properly, as per the company memorandum and articles of associations
11) Preparing director’s report
12) Updating the governing body ACRA on company’s director/name/other related changes
The company secretary either should be a permanent resident of Singapore, or should be holding any of the three passes: Employment, Dependent, or EntrePass.
According to the Singapore Company’s Act, the company secretary has to be appointed within the 6 months from the date of incorporation of the company. By hiring one, you will not only abide by the law, but also buy yourself a little peace of mind.