Corporate Secretarial Services Singapore Myths That You Should Ignore
Even for the first-time owners, registration of their businesses in Singapore is often a swift process. Of course, they have to follow all the norms and regulations dictated by the Company Registrar of Singapore, i.e., ACRA. One of the seasoned corporate secretarial services Singapore can play a pivotal role in making the process completely hassle-free by offering meaningful and timely advice.
Outsource to Company Secretarial Services Singapore
However, some of the business owners think that appointing a secretary means indulging in unproductive expense. They are right in their thinking it so as the company secretary do not generate any revenue and profit. It is a non-core task. That is why many owners, rather than investing in a permanent secretary; salary, benefits, & infrastructure, outsource the task to the one of the experienced company secretarial services in Singapore.
Even MNCs find hiring of corporate secretarial services Singapore the more cost economical option. Moreover, it also reduces the mental clutter and distractions in the workplace. It lets the management focus on the core tasks of the business. Though the secretary is responsible for the business’ statutory compliance and corporate governance, inexperienced owners find the task bewildering.
Do Not Fall Prey to Myths
The business owners also hear some myths associated with the job that a first-time or startup owner must ignore as soon as possible. Relying on these to make decisions related to their compliance can prove fatal for their business. The situation, if it ever arises, has the full potential of affecting the goodwill and the brand image of their business. Talking to an expert from one of the reputable company secretarial services in Singapore can help them in learning more about the tasks performed by a secretary and in rejecting myths associated with it.
Appointing of a Company Secretary is Optional
As per the Companies Act, the hiring of secretarial services Singapore is mandatory for a company incorporate in Singapore. It must do so within the six months of its incorporation. It is not a waste of money as the competent secretary takes care of business’ compliance and governance needs. It also liaisons with the regulatory agencies.
It is a Clerical Job
It is the height of ignorance to assume that a company secretary does clerical tasks. The appointment of a secretary is part and parcel of the Singapore company registration process. The secretary is considered as one of the officers of the company without whom the company will be hard-pressed to continue its operations.
Secretary Needs to Have a Degree in Law
No, it is a myth that the secretary needs to have a degree in law. This also does not mean that anyone can take up the mantle. The job needs someone with a thorough understanding of the Singaporean law. The law advises the appointment of a qualified and experienced individual who can competently discharge the duties of a secretary for a private limited company. However, the public limited companies must appoint certified secretary.
Need Secretary Only for Singapore Company Registration
Even after the incorporation of Singapore company, the business needs the services of a secretary. The professional is tasked with the making arrangements for the board meetings and taking down the minutes which helps in keeping the business on its tracks. The secretary ensures that all the business activities are lawfully conducted, and the directors are aware of changes in the laws, the deadlines and timely submission of annual returns.
The corporate secretarial services Singapore like SBS Consulting Pte Ltd offers their incorporation packages. The package offers company secretary services free of cost for one year. The firm also offers it as their standalone service at S$299.
Contact us:
SBS Consulting Pte Ltd
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
