A corporate secretary is a popular term in Singapore and all companies hire corporate secretary services Singapore to ensure the smooth functioning of their businesses. Also, in Singapore, companies are also legally obliged to do the appointment of company secretary or hire corporate secretary services within a given time period after starting a new business.
If your knowledge about corporate secretary services is limited and you want to know more about it, here is everything you can know more about it.
What is Corporate Secretary Services Singapore?
A corporate secretary is your company’s secretary required under the Singapore Companies Act. The primary responsibility of a corporate secretary is to ensure the compliance of the requirements under the Singapore Companies Act and they should have deep knowledge of the Singapore Companies Act in order make sure your company is legally compliant with all rules and regulations. Other than that, they may also handle communications with the board and the shareholders.
Is Appointment of Company Secretary Compulsory?
Yes, appointing a corporate secretary is a must for all private limited companies in Singapore and you are required do it within 6 months from the date of incorporation or the company will be non-compliance and may face penalties.
However, companies must take serious consideration into hiring someone as a corporate secretary in Singapore because not everyone is suitable to act as a corporate secretary. There are some requirements that must be met before hiring a corporate secretary. Here are the requirements:
- The corporate secretary must be above 18 years old.
- He must be an ordinary resident of Singapore.
- He must have the required experience and qualifications.
- He must have complete knowledge of the Singapore Companies Act.
- A director can be a company secretary only if he is not the sole director of the company.
What are the Responsibilities of a Corporate Secretary Singapore?
If you are wondering what responsibilities a company secretary hold, here is a complete list for you.
1. Compliant with the Law
The knowledge of the Singapore Company’s Act is one of the primary requirements to be a corporate secretary. Ensuring that the company is following all rules and regulations and is in accordance with the Singapore Company’s Act 2006 are part of the corporate secretary’s responsibilities.
2. Communication with Shareholders
A corporate secretary is your company’s representative to the shareholders. If they wish to contact you, they will contact you through your corporate secretary. In addition, the corporate secretary is also responsible for circulating announcements to shareholders, such as issuing information regarding dividends, registration and transfer of shares as well as all other areas of interest relating to shareholders.
3. Updating Any Company Details Change
A company secretary is responsible in ensuring that the company address is the same throughout the company’s business stationery, website, emails and other areas. If there are any changes in the company address, the corporate secretary have to make sure that it is updated everywhere and that the company’s house is notified about it.
4. Maintaining Statutory Books
The corporate secretary is accountable for keeping and maintaining the statutory books like the register of charges, register of members, register of substantial shareholders and many more.
5. Filing of Statutory Forms
Another key responsibility of the corporate secretary is to make sure all forms and returns are filed within the specified time period. This may include filing for allotment of shares return, the notice of appointment or resignation of a director, etc.
6. Securing Company Seal and Documents
Another key responsibility of a corporate secretary is to secure the company seal and important company documents like certification of incorporation, constitution, share certificates and director service contracts.
7. Meeting Arrangements
Apart from communicating with the shareholders, a corporate secretary is also responsible for arranging board meetings. They will also prepare the meeting’s agenda and the director’s resolution. Aside from that, the corporate secretary will distribute the company’s financial report and note down the minutes of the meetings.
We hope our guide will help you better understand the responsibilities of and importance of a corporate secretary in Singapore. If you are looking for reliable corporate secretary services in Singapore and you need the appointment of a corporate secretary for your firm in Singapore, FreeIncorp is here to help you. We know how important it is for your business to hire a qualified and competitive corporate secretary.
We have a team of highly qualified and experienced corporate secretaries. You can be rest assured that our team will help you manage your company’s corporate secretarial matters expertly.
Feel free to contact us for more information. We aim to provide you with the best corporate secretary services in Singapore at affordable prices.