Singapore is an extremely popular choice of area when for setting up a company or firm because of its superlative infrastructure, supportive administrative statutes and opportunity to gain connection to the Asia-Pacific area. Given the extremely competitive business environment, a growing number of enterprises are seeking corporate secretarial services.
All businesses in Singapore are required to employ at least one corporate secretary within six months of its incorporation. There are consultancy business firms that tender corporate secretarial services to firms of various kinds and sizes. With the objective of providing competent advice and help to clients, the scope of service is broad. Basically, a corporate secretary is accountable for supervising and assuring the company’s conformity with pertinent statutory requirements and obligations.
On a more detailed perspective, usually, your corporate secretarial services provider’s responsibilities encompass the following: statutory registration and books, statutory returns, compliance alert and reminders on statutory deadlines, corporate constitution and resolutions and corporate governance.
It is the corporate secretary’s duty to maintain statutory registers and books and updates on matters regarding alterations in the company’s directors or any details about its managing directors, riddances or removals from office, appointees, annual returns, business name changes, among others. The corporate secretary ought likewise thoroughly observe the various government cut-off dates and ensure that the company abides. It is a must that the corporate secretarial services specialist keeps an eye on the client’s conformance to its constitution, with respect to corporate governance.
Other corporate secretarial services providers may encompass board meetings, general meetings, reports and accounts, share registration, shareholder communication, shareholder monitoring, share and capital issues, transfers and restructuring, acquisitions and disposals.
It is essential to note that the Singapore Companies Act necessitates that the company secretary is a resident of Singapore, a Singaporean citizen or a permanent resident, and a holder of Singapore Employment Pass, Entry Pass or Dependent Pass. The individual should be a qualified expert who is knowledgeable in all the laws and regulations of Singapore.