What is a Company Secretary?

A corporate secretary, or company secretary, is key to managing a company’s administrative tasks and ensuring compliance with Singapore's laws and regulations. Acting as a bridge between shareholders and directors, the secretary also shares legal responsibilities with directors. In case of any legal breaches, they must promptly notify the relevant parties for resolution.

What are the roles of a Company Secretary?

The Company Secretary ensures the company and its directors comply with the rules outlined in its Constitution and provides guidance on statutory obligations. Here are the primary responsibilities of a corporate secretary in Singapore:

• Meeting Management: Organizes board and general meetings, ensures timely filing of annual returns, and reminds directors to hold the annual general meeting (AGM) within the required timeframe.

• Shareholder Relations: Oversees the creation and issuance of shares, mediates between shareholders and directors, addresses shareholding matters, and handles shareholder queries.

• Financial Oversight: Distributes financial statements to shareholders for informed decision-making during AGMs and ensures the preparation of annual accounts in compliance with Company Law.

• Insurance and Custody: Ensures adequate insurance coverage for the company’s directors, staff, and assets and manages the safe custody and proper use of the company seal.

• Regulatory Compliance: Updates company details with ACRA, including changes in the company name, registered office address, share capital, and officer appointments or terminations.

Through these functions, the corporate secretary ensures the company maintains its administrative efficiency and statutory compliance in Singapore.

Why outsource Company Secretary services?

Outsourcing company secretarial duties is a practical solution for saving time and reducing costs, especially for foreign entrepreneurs and non-residents managing businesses in Singapore. The process of registering and maintaining a company can be complex, but outsourcing allows businesses to focus on their core activities while leaving administrative tasks to experts.

A company secretary plays a crucial role in ensuring compliance with statutory requirements. Outsourced services help businesses meet mandatory obligations set by the Accounting and Corporate Regulatory Authority (ACRA) without the need for additional staffing or local office space. This cost-effective approach enhances compliance and operational efficiency while reducing administrative burdens.

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