Corporate Secretarial Services Provider: Roles And Responsibilities

Singapore is an exceptionally popular choice of destination when for putting up a firm or firm because of its world class infrastructure, supportive government regulations and chance to reach the Asia-Pacific area. There is then great competition in the business environment that a growing number of organizations would want to engage corporate secretarial services.

All business firms in Singapore are required to hire at least one corporate secretary within six calendar months of its formation. There are consultancy business firms that tender corporate secretarial services to firms of different kinds and sizes. With the objective of rendering efficient recommendation and assistance to clients, the scope of service is huge. The primary responsibility of a corporate secretary is to supervise and assure that the client acts in accordance with the statutory requirements and obligations.

On a more detailed perspective, in general, your corporate secretarial services provider’s responsibilities encompass the following: statutory registration and books, statutory returns, compliance alert and reminders on statutory deadlines, corporate constitution and resolutions and corporate governance.

It is the corporate secretary’s responsibility to maintain statutory registers and books and updates on matters involving changes in the client’s directors or any data about its managing directors, exclusions or removals from office, assignments, annual returns, business name alterations, among others. Thorough monitoring of the different administrative cut-off dates and ensuring that the client abides to those deadlines must also be performed by the corporate secretary. The corporate secretarial services expert should also make sure that the company conforms to its constitution, with respect to corporate governance.

Other corporate secretarial services may also cover board meetings, general meetings, reports and accounts, share registration, shareholder communication, shareholder monitoring, share and capital issues, transfers and restructuring, acquisitions and disposals.

Take note that the Singapore Companies Act requires that the company secretary resides in Singapore, a Singaporean citizen or a permanent resident, and a bearer of Singapore Employment Pass, Entry Pass or Dependent Pass. It is vital that the person is a trained expert and has the adept knowledge on all the procedures and rules of Singapore.

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