When it comes to setting up a company in Singapore, business owners are bound by certain requirements stated by ACRA. The appointing of corporate secretaries within 6 months of the new company’s incorporation would be one such requirement. Business owners can either choose to hire a company secretary manually, or decide to appoint specific providers that offer corporate secretarial services in Singapore.
The appointed corporate secretary will be regarded as the corporation’s primary officer, and will be placed in charge of essential administrative/reporting legal requirements. To ensure that business owners are able to benefit fully from corporate secretarial services, it is highly recommended that they are acquainted with the roles and responsibilities a corporate secretary should fulfill:
Considered as one of the primary features that corporate secretarial services in Singapore offer to business owners, the appointed company secretary is required to contribute efforts to essential administrative tasks that involve reporting confidential information. Business owners can expect corporate secretarial services to efficiently handle administrative tasks like the updating and filing of annual returns, updating of directors’ particulars and company officers (appointment, deaths, resignations), company constitution amendments, share allotment/transfers, company name registration or changes, maintenance of Statutory Registers, Signed Board resolution filing, AGM/EGM maintenance and more.
Corporate secretarial services in Singapore can also extend to advisory responsibilities as well. Company secretaries should be professional enough to ensure that the corporation’s internal governance meets up with legal compliance frameworks and advise their clients accordingly. This way, key information can be used to formulate legal strategies and complement decision making, especially when it comes to company policies.
Corporate secretaries are also trusted to act in the best interest of the corporations and to avoid disclosing potential interest conflicts. They hold the responsibility of keeping a close watch on proceedings since failure to do so can be regarded as breaking the law and potentially result in severe consequences for the corporation.