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Why Corporate Secretarial Services are Essential for Your Business?
What are Corporate Secretarial Services?
Corporate secretarial services involve the management of a company’s statutory and regulatory compliance requirements.
A company secretary is responsible for ensuring that your company complies with all statutory requirements under the Singapore Companies Act. This includes maintaining statutory records, filing annual returns, and organizing board meetings and AGMs.
Table Of Content
- Why are Corporate Secretarial Services Important?
- - Compliance Assurance
- - Corporate Governance
- - Risk Management
- - Administrative Support
- How a Singapore Corporate Service Provider Can Help?
- - Retaining of Statutory Records
- - Filing Annual Return
- - Organizing Board Meetings and AGMs
- - Compliance Monitoring
- Conclusion
Why are Corporate Secretarial Services Important?
1. Compliance Assurance
The company secretary’s main role is to make sure that your business stays ahead of the curve in terms of statutory adherence. A company secretary ensures that your company remains compliant with all legal obligations, reducing the risk of penalties.
2. Corporate Governance
A company secretary holds a position that plays a very crucial role in making sure good corporate governance structures are followed in the company. They help draft board resolutions, keep minutes of meetings, and ensure that your company adheres to best practices in corporate governance.
3. Risk Management
If the company secretary identifies potential threats and if the company is already compliant with all legal and regulatory claims, then they will take stock of the situation and may be able to prevent or at least make the best decision in times of crisis.
4. Administrative Support
Company secretary in Singapore is responsible for all administration tasks and statutory compliance activities, which allows you to concentrate on what matters to you the most (business development).
How a Singapore Corporate Service Provider Can Help?
A Singapore Corporate Service Provider (CSP) can act as your company secretary, providing comprehensive corporate secretarial services. Here’s how a CSP can assist:
1. Retaining of Statutory Records:
A CSP is instrumental in ensuring that you will be able to retain statutory records such as the registers of directors, shareholders, and secretaries.
2. Filing Annual Return:
A CSP can attain an annual return for your company with ACRA, so that the company will be able to keep compliance.
3. Organizing Board Meetings and AGMs:
A CSP is in a position to help organize the board meetings and AGMs which includes setting the agenda, taking the minutes, and making sure that necessary resolutions are properly recorded.
4. Compliance Monitoring:
A CSP can monitor changes in regulations and ensure that your company remains compliant with all legal requirements.
Conclusion
Corporate secretarial services are essential for ensuring that your company remains compliant with all statutory and regulatory requirements.
By engaging a Singapore Corporate Service Provider (CSP) for corporate secretarial services, you can focus on growing your business while leaving the complexities of compliance to the experts.
Simplify Your Corporate Compliance
let our experts handle your secretarial needs while you focus on business growth.
Most Popular
Frequently
Asked Questions
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What is the role of a corporate secretary in Singapore?
A corporate secretary ensures compliance with statutory requirements, maintains records, organizes AGMs, and manages regulatory filings.
-
Do I need a corporate secretary for my business in Singapore?
Yes, all Singapore-incorporated companies must appoint a company secretary within six months of incorporation.
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What happens if my company does not comply with Singapore’s corporate regulations?
- What happens if my company does not comply with Singapore’s corporate regulations? Non-compliance can result in penalties, fines, and legal actions against the company and its directors.
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How can a CSP help with corporate secretarial services?
A CSP can handle compliance monitoring, regulatory filings, board meetings, and annual return submissions, ensuring your company meets legal obligations.
-
How often must I file my annual returns in Singapore?
Annual returns must be filed with ACRA within seven months of the financial year-end.
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