As we understand the importance of company secretarial services. Almost every company consists of stakeholders, each with different roles. Among these stakeholders, the secretary of the company has several duties and responsibilities to follow for the better growth and maintenance of the company. The company secretary mainly checks out the company’s compliance with the statutory and legal bodies. Also, company secretaries have to perform several other responsibilities beyond filing and corresponding, which is why board members value this position more than anything.
Given the significance of this role, every company must employ secretarial services in Singapore within six months of its founding, according to the Accounting and Corporate Regulatory Authority (ACRA). For this reason, businesses need to look for trustworthy providers of company secretarial services.
It is currently the perfect time to continue looking for the most suited secretarial services for your business because the position of a secretary in Singapore is continuing to change as a result of the evolving corporate governance. The following list outlines when each of these services is crucial to the operation of every firm. Let’s look at it.
It is important to maintain compliance.
We all know the value of a secretarial position and how effective it is in the growth of a business or company. Almost every company has a secretary to maintain the decorum of the company. The primary role of the company secretary is to maintain compliance. The secretary needs to maintain corporate compliance to ensure the business runs smoothly without any risks or distractions. For better results, the company’s secretarial services must include the following things.
- It is essential to include every minute update by keeping minutes of registered books.
- They need to submit the annual return to the ACRA and
- Also, to monitor the compliance with their relevant laws.
If these activities are carried out wisely without any flaws or mistakes, there will be no risk in the development process. However, if these tasks are not carried out responsibly before the deadline, the company may face liabilities through the regulatory bodies. If you are looking for company secretarial services, you need to consider this. The best thing about company secretarial services is that they also facilitate communication within and across the entire management levels of the company. They provide accurate reports to the appropriate parties and also deliver essential memos.
Ensuring to offer wise counsel
Consider the legal compliance of firms, including the Company Act, Income Tax Act, and internal company governance, when choosing secretarial services in Singapore. A corporation is surrounded by a lot of management and compliance rules. Because of this, a qualified secretary must be knowledgeable and trained in various fields.
It is advantageous if your secretary is skilled in these procedures if you want to make corporate modifications to your firm structure. With the knowledge that all legal criteria have been met, you can execute the corporate changes swiftly and relatively quickly.
Executives need these to make essential judgments because it gives them access to vital information. It results in the formulation of tactics while observing the rules and laws.
Act in the Best Company
We know that the essential duty of the company secretary is to act in the company’s best interest. Their primary objective is to deal with every consequence of the company favorably. Everything must be done in good faith to avoid conflict within the organization. The company needs to hire a meticulous, trustworthy, and dedicated person who will not jeopardize the operation. You don’t need to worry about the company if you get these qualities you can trust.
If we talk about the hiring of secretarial services Singapore, then we are more than just employee recruitment. It is only because most companies rely on their secretary to perform their roles to the best of their abilities.
How to choose the right Company Secretary Firm?
Singapore has a large number of secretarial service companies. And making a decision could be difficult. Although top suppliers provide possible secretaries and hire people with the ideal mix of abilities, devotion, and experience, not all are appropriate for your company’s needs and requirements.
It would be advisable to first know and comprehend your company’s demand or what you need, just like with any fundamental business decision. After that, you might take into account the following elements:
Services and Price
The most important things to look at while hiring secretarial services are their qualities, quality of services, and price. Price is always a critical consideration. Price can vary due to the roles and responsibilities of the company secretary. The range can be from primary roles like meeting just the statutory requirements and annual filing to the filing requirements like company updates, in particular, shareholders and others.
Check to see if the Company is a Registered Filing Agent
A Registered Filing Agent (RFA) is a company or person that, as part of their line of work, conducts any transaction with the Registrar (ACRA) on behalf of another person (i.e., a customer).
Contrary to widespread assumption, it is currently relatively simple to meet the requirements to be appointed as a company secretary. A Private Limited Company’s Company Secretary can be just about anyone. However, you are not permitted to serve as the Company Secretary and the only Director.
Ensure that they are Highly trained
It is crucial to hire a professional secretary by choosing a company secretarial services who can offer a guarantee of their high-quality services. It is always recommended to consider these individuals, their specific areas of expertise, and their knowledge. This way, you can ensure that your secretary can play their role correctly for the company’s success.
The Final Talk
Money is a touchy subject. You must make sure you get what you paid for as a result. Select a corporate secretarial services Singapore that guarantees to hire a third-party company. This is less expensive than hiring a secretary for the company.
