Appointing a Company Secretary in Singapore
Companies successfully incorporated in Singapore are required to appoint a Company Secretary within 6 months from the date of their incorporation.
VentureHaven’s Company Secretary Services provide business operations with a wide range of secretarial services they need to stay in compliance with regulations governing Singapore businesses. Company secretaries also perform a range of business, operational and financial duties upon which efficient administration of a company relies.
Duties most company secretaries are responsible for include:
- Board & committee meetings
- Minutes of Meetings
- Annual General Meeting of Shareholders
- Corporate Records
- Advisor to Directors
- Implementation of Directors’ Decisions
- Issuing New Shares, Stock Transfers & Dividends
- Securities Market Listings & Compliance with Listing Standards
- Compliance with Business Laws
- Liaising with Auditors, Lawyers, Bankers as and when required
Credentials of a Company Secretary in Singapore
A Company Secretary ensures that regulatory, filing and documentation requirements are complied in good faith. As the integrity of a company’s legal framework is dependent on the competency of its company secretary, it is imperative that a newly incorporated company hires a trained, experienced professional with familiarity in government business regulations.
The following credentials are stipulated by Singapore’s Accounting and Corporate Regulatory Authority (ACRA):
- At least three of the five years of prior secretarial experience immediately before his/her appointment
- He/she is a competent person as per the Legal Profession Act, Cap. 161
- A public accountant as designated under the Accountants Act, Cap. 2
- A member of Singapore’s Institute of Certified Public Accountants
- A member of the Institute of Chartered Secretaries and Administrators Association of Singapore
- Member of the International Accountants Association (Singapore Branch)
- A member of the Singapore Institute of Company Accountants
A Company Secretary is expected to have at least ONE of the above listed credentials.