Company secretarial services are an essential component of any business administration. The secretarial services singapore are primarily concerned with the following:
- corporate governance
- effective administration
- compliance with regulations
Company secretarial services offer several responsibilities, such as:
- legal
- ethical
- corporate
Company secretarial: board, company, and shareholders
While it is not legally required to formally appoint a company secretary, the company should comply with several requirements. In the absence of an appointed company secretary, responsibilities rest with the company’s directors. A company secretary is concerned with 3 critical areas:
- board
- compliance (Companies Act)
- relationship with shareholders
A company secretary ensures all required information is provided to the board members and appropriate procedures are followed. The secretary ensures compliance with the legislation. Company secretary has knowledge or experience working with the Companies Act and knowledge of the company law.
What is secretarial service?
A secretarial service is not the traditional secretary work, the name suggests, it is the level of administrative function in a business ensuring these factors:
- good corporate governance
- effective administration
- compliance with legislation
- laws and regulations
Why use a secretarial services provider?
Secretarial services specialists can tailor the provision of the company’s secretarial services to the requirements of the clients. When doing this brings a wide range of secretarial support to assist clients with ongoing needs. The outsourced company secretarial duties offer numerous advantages:
- Professionals know what needs to complete
- Effectively manage duties and responsibilities
- Release directors focusing on managing a business
- Reduces the risk of penalties and non-compliance
- Implement best practice
Benefits of secretarial services
There are a lot of compliance requirements when setting up and operating a corporate entity. Secretarial services are crucial for the survival of the company. Here are the benefits of outsourcing the secretarial services of the company:
- Annual confirmation statement and company return submission. All companies should file yearly confirmation statements with the company’s house. Confirmation statement may include:
- Standard Industrial Classification code
- Capital statement
- Shares’ trading status
- Shareholder information
- Maintain statutory registers. Companies should maintain a few statutory registers, such as:
- share registers
- PSC register
- directors and officers register
- mortgage and charges, etc.
- Arranges board directors’ meetings. Another benefit of having a company secretary is it organizes all BOD meetings. Arrange meetings may involve the following:
- drafting and sending meeting agendas
- sending meeting memos per statutory timelines
- documenting and disbursing meeting minutes
More secretarial services are offered and yet you don’t realize it until you have used it.
