If you are a registered company in Singapore or in the process of being incorporated, it is important to note that all companies incorporated in Singapore must satisfy one key requirement of appointing a company secretary who resides in Singapore. A secretary oversees all administrative/reporting functions and ensures that the directors and shareholders of the company satisfy their statutory obligations. Every year, the Accounting and Corporate Regulatory Authority (ACRA) issues about 10,000 penalties to various companies for non-compliance with the law, due to “ignorance” or “lack of awareness”. In order to keep up with today’s complex and ever-changing regulations, it has never been more critical for business entities to appoint a company secretary in Singapore.

Appointment and Qualifications

In Singapore, ACRA mandates that a company secretary must be appointed within six months from the date of the company’s incorporation. Additionally, the company secretary must fulfil one of the following criteria:

  • has been a company secretary of a company for at least three of the five years immediately before his appointment as company secretary of the public company
  • a qualified person under the Legal Profession Act (Cap. 161)
  • a public accountant registered under the Accountants Act (Cap. 2)
  • a member of the Institute of Certified Public Accountants of Singapore
  • a member of the Singapore Association of the Institute of Chartered Secretaries and Administrators
  • a member of the Association of International Accountants (Singapore Branch)
  • a member of the Institute of Company Accountants, Singapore

Key Roles & Duties

A competent company secretary must always act in the best interest of the company. He or she should be able to offer the company relevant advice when it comes to appropriate procedures during business transactions, as well as promote consistent communication among the directors and shareholders of the company. According to the demands of the company, a company secretary has to:

  • Maintain and update the company’s registers and records regularly
  • Organise appropriate meetings and ensure compliance with the Companies Act
  • Ensure company and directors comply with the Memorandum and Articles of Association (M&AA)
  • Keep the company and its directors aware of necessary deadlines for annual returns required by law
  • Ensure safe custody and proper use of the company seal
  • Stay updated on developments in statutory law and communicate changes to the company and directors
  • Facilitate operations between the company and relevant authorities for specific needs of the company

Company Secretary Services

At VentureHaven, we offer the most professional company secretary services so you no longer have to be in default of statutory requirements. We undertake necessary steps to ensure you are provided with a knowledgeable and experienced company secretary in Singapore who is capable of handling all your corporate transactions, every step of the way.