A company secretary in Singapore, besides being a mandatory appointment that a company must fill within 6 months of its incorporation, also plays a pivotal role in the growth and success of a company. From ensuring that the company is acting in compliance with ACRA’s intricate statutory obligations, to playing the advisory role in the firm, a company secretary undertakes numerous influential roles within the company.
Responsibilities of Company Secretaries:
- implement proper corporate governance within the organisation
- liaise with non-executive company directors
- maintain company registers
- file and notify relevant authorities with regard to share transfer, Memorandum of Article and Association amendment, changes in registered office address
- Monitor share allotments, issues and transfers
- Ensure restructuring, acquisitions and mergers are done purposefully for the best interest of the company
- Ensure company abides by the Memorandum & Articles of Association
- Arrange and convene Annual General Meeting and other required board meetings
As corporate laws are dynamic, in that regulations are not infrequently amended or superseded, therefore, in order to advise the company’s board to the best of its interests, company secretaries need to have not only in-depth knowledge and understanding but also keep themselves apprised of the latest changes in corporate laws.
Singapore Company Secretarial Services
Small business owners are unlikely to house a full-time company secretary, as the cost of just one such employee is more than the fees paid to retain outsourced company secretary services, which play an invaluable role in helping smaller companies run and grow their operations for a relatively low price. However, it is crucial to only entrust Singapore Company Secretarial Services to a provider that is competent, reliable and experienced.
Company secretary services allow you to tap into the legal knowledge and technical know-how provided by experienced, dynamic and innovative professionals who know what to do and how to do it to give your business the best advantages possible through implementing good corporate governance. Your services provider will keep your business compliant with the law, to begin with, by keeping tabs on what’s due and what’s to be lodged when required, and give you the peace of mind to focus on improving productivity and increasing income for your business operation.
Mitigating risks is another important benefit Company Secretary Services can provide. In business, stakeholders, be it directors, shareholders or secretaries, have legal responsibilities. When professionals from a service providing firm are engaged to handle compliance matters, the risk of facing legal consequences for negligence or unintentional law-breaking will be eliminated, for the firm as an entity is well-versed and familiar with the most current statutory local laws.