What is a Company Secretary?
A company secretary is a key person in any business entity in Singapore. A company secretary is responsible for ensuring that the company complies with the relevant laws and regulations, as well as maintaining the company’s records and documents. A company secretary also acts as a liaison between the company and its stakeholders, such as shareholders, directors, auditors, and regulators.
Why is a Company Secretary Important in Singapore?
In Singapore, every company must appoint at least one company secretary within six months of its incorporation. The company secretary must be a natural person who is ordinarily resident in Singapore. The company secretary must also have the necessary qualifications and experience to perform the duties of the role.
Key Responsibilities of a Company Secretary in Singapore
Some of the main duties of a company secretary in Singapore are:
- Preparing and filing annual returns and other statutory documents with the Accounting and Corporate Regulatory Authority (ACRA)
- Organizing and attending board meetings and general meetings, and preparing minutes and resolutions
- Maintaining the company’s registers of members, directors, secretaries, auditors, charges, and controllers
- Updating the company’s constitution and share capital structure
- Advising the directors on their fiduciary duties and corporate governance matters
- Communicating with shareholders and facilitating the transfer and transmission of shares
- Ensuring that the company complies with the Companies Act, Securities and Futures Act, Personal Data Protection Act, and other relevant laws and regulations
- Handling the company’s correspondence and queries from external parties
Benefits of Engaging a Professional Corporate Service Provider
A company secretary plays a vital role in ensuring the smooth operation and good reputation of the company. A company secretary also helps to protect the interests of the company and its stakeholders. Therefore, it is important to choose a competent and reliable person to be the company secretary.
One option is to engage a professional corporate service provider to act as the company secretary. A professional corporate service provider can offer a range of services, such as incorporation, accounting, taxation, payroll, immigration, and compliance. A professional corporate service provider can also provide expert advice and guidance on various aspects of running a business in Singapore.
By engaging a professional corporate service provider, you can benefit from their experience and expertise, as well as save time and resources. You can also focus on your core business activities and leave the administrative tasks to them.
Conclusion
If you are looking for a trusted and reputable corporate service provider in Singapore, look no further than Beaufort Corporate Services. We have been providing high-quality and affordable corporate services to local and foreign clients. We have a team of qualified and experienced professionals who can handle all your corporate needs. We are also registered with ACRA as a filing agent and an accredited training provider.
Whether you need to incorporate a new company, appoint a company secretary, file your annual returns, or apply for work passes, we can help you with all that and more. Contact us today for a free consultation and quote.
Frequently Asked Questions
What are the main responsibilities of a company secretary in Singapore?
The main responsibilities of a company secretary in Singapore include:
- Ensuring that the company complies with all applicable laws and regulations
- Advising the directors on their fiduciary duties and corporate governance matters
- Arranging and conducting board meetings and general meetings of shareholders
- Preparing and filing all necessary documents with the Accounting and Corporate Regulatory Authority (ACRA)
- Maintaining the company’s statutory registers and records
- Communicating with shareholders and other stakeholders
Why is it important to have a company secretary in Singapore?
It is important to have a company secretary in Singapore because they play a vital role in ensuring that the company operates in a compliant and ethical manner. A company secretary can help to reduce the risk of non-compliance, improve corporate governance, and enhance shareholder relations.
Can a director of the company also be the company secretary?
Yes, a director of the company can also be the company secretary, provided that they are not the sole director of the company.
How do I choose a company secretary in Singapore?
When choosing a company secretary in Singapore, it is important to consider the following factors:
- Experience: The company secretary should have experience in dealing with Singapore company law and regulations.
- Qualifications: The company secretary should be a qualified member of a professional body such as the Institute of Certified Secretaries and Administrators (ICSA).
- Reputation: The company secretary should have a good reputation in the industry.
Can I engage a professional corporate service provider to act as the company secretary?
Yes, you can engage a professional corporate service provider to act as the company secretary. A professional corporate service provider can offer a range of services, such as incorporation, accounting, taxation, payroll, immigration, and compliance. A professional corporate service provider can also provide expert advice and guidance on various aspects of running a business in Singapore.