Factors Behind Hiring Corporate Secretarial Services

As per the requirements of Singapore Company Law, every incorporated company needs to employ at least a company secretary within the six months of its incorporation. Today, a number of MNCs, SMEs and small businesses outsourcing it to the corporate secretarial services.

ACRA (Accounting and Corporate Regulatory Authority) which also acts as the Company Registrar of Singapore has strict filing requirements. The agency has also widened the directors’ responsibilities. It is the reason why businesses are on the lookout for reputed company secretarial services.

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Company Secretarial Services in Singapore

Benefit from the Company Secretarial Services in Singapore

You should not be fooled by the terms used in the job title. It sounds like the straight administrative role. However, the administrative tasks handled by the secretaries are legal in nature. The tasks are not easy to accomplish as they need attention to every detail. The corporate secretarial services assist their clients in taking care of;

  • Allotment shares to the company’s share holders

  • Issuance of share certificates

  • Appointment or termination of company directors

  • Updating of Company Registrar of any changes in the officers of company

  • Notifying Company Registrar about the changes in the local registered office address

  • Filing of annual accounts

Corporate Secretary in Singapore Liaise with Government Agencies

These are but a few responsibilities of a corporate secretary in Singapore. There are many that need the services of an experienced secretary. All of these tasks are statutory compliance-related. They are so varied that business owners seek expertise from the corporate secretarial services in Singapore.

The corporate secretaries are hired for their extensive knowledge of the latest changes in the statutory corporate governance and the updated compliance requirements. They liaise with the regulating agencies and prevents the management from being dragged in the muddy waters of statutory compliance.

If the officials of the agencies need to contact a company they get in touch of its secretary. It allows the management to operate freely and fully concentrate on the core-goals of the business to ensure its survival and growth.

The experts provided by the company secretarial services takes care of extraordinary & routine matters like new company incorporation in Singapore, restructuring of existing business, ongoing maintenance, & company secretarial advice. They also assist with the prompt and timely corporate governance, dissolution & liquidation of a company efficiently & effectively.

Responsibilities of a corporate secretary in Singapore

The corporate secretarial services assist their clients in preparation and the filing of incorporation documents to register various types of businesses, recruiting of managers, changes in the registered particulars, renewing of Certificate of Incorporation for a business name, etc. In addition, they also take care of;

  • Recording the minutes of the shareholders’ & board meetings

  • Preparing shareholders & board resolutions

  • Updating and advising the directors on the finer points of compliance

  • Timely filing of audited accounts & Annual Returns

  • Maintaining statutory records

  • Changing of the structure of share capital

  • Transferring of shares

  • Opening of corporate bank account & changing of the bank signatories

  • Changes in company name

  • Updating of the M&AA

The hiring of corporate secretarial services enables businesses to save on their resources. It also minimizes the mental clutter in the office and enables the managers and employees to stay focused. These services charge affordable fees and are worth trusting with your business compliance.

 

Contact Info:
SBS Consulting Pte Ltd
Visit: https://www.sbsgroup.com.sg/
High Street Center,
#17–02, 1 North Bridge Road,
179094 — Singapore
Phone: +65–6536 0036
Email: info@sbsgroup.com.sg