The company secretary is a very important and essential role in a corporate structure. And that is why the Company Act Singapore has made it mandatory for every corporation to hire a company secretary. It can be an in-house position or you can also outsource the responsibility as well.

Why Outsourcing Is Better?

1. Quick Access to Experienced and Qualified Professionals

Companies that offer corporate secretarial services in Singapore have a number of highly experienced and qualified individuals on their teams. You will not have to go through many job applications to find the right person for the job.

2. It is cost-effective

Outsourcing a company secretary Singapore job is also cost-effective. You will not have to advertise for the position and run the hiring program. Moreover, you will not have to spend time and money to train the inexperienced individual that you hire.

3. Minimal Risks

When you hire corporate secretary in Singapore, you don’t have to worry about hiring the wrong or an inexperienced individual. Corporate services companies only hire experienced and qualified professionals and that too after a rigorous background check. So, with corporate secretaries from a corporate services firm, you can trust them and rely on them for important corporate decisions.

4. Expertise

The corporate secretary is a vital position and handling such an important administrative role is only an expert’s job. Outsourcing the job will give you access to professionals who possess a high level of expertise in the field. They know the rules and regulations and help you structure your company in compliance with the law.

Requirements To Hire A Corporate Secretary Singapore

Company Act Singapore has regulated some requirements to hire a company secretary. The company secretary must be a Singapore citizen, permanent resident of Singapore, or Singapore Employment pass/ dependant pass/ Entrepass, holder. Other than that he must also fulfil any one of the below-mentioned requirements.

  • He must have at least 3 of the 5 years of secretarial experience immediately before being employed as a company secretary in Singapore.
  • Must be a registered public accountant
  • A member of the Institute of Public Accountants Singapore
  • Member of the Singapore Association of the Institute of Chartered Secretaries and Administrators
  • Member of the Association of International Accountants
  • Member of the Institute of Company Accountants Singapore
  • Qualified under the Legal Profession Act.

To make sure your company secretary fulfils all the requirements, always consult a reputed corporate services provider like BT Consultancy.

Why Corporate Secretary Singapore Is An Important Position?

The importance of a corporate secretary is evident from the fact that it is a legal requirement and you need to have a corporate secretary to incorporate a company in Singapore. However, a corporate secretary has different responsibilities towards the company, company directors, and shareholders.

– The Company

The corporate secretary ensures that the company complies with all the rules and regulations in Singapore. Also, He/She provides necessary guidance to ensure effective corporate governance.

– Company Directors

A corporate secretary is an advisor to company directors. He helps them and provides necessary guidance to fulfil their responsibilities and he is also responsible to call board meetings. Moreover, He/She is also responsible for managing the appointment of a new company director.

– Shareholders

A company secretary is the source of communication with shareholders. Every communication to or from shareholders is conducted through him/her. Also, he is responsible to protect the benefits of shareholders.

Responsibilities of A Corporate Secretary Singapore

Some core responsibilities of a corporate secretary include:

1. Board Meeting

The corporate secretary of a company is responsible for arranging and managing the board meetings. He points out the agenda of the meeting and issues a letter for the meeting to the board of directors and shareholders (if required). Sometimes, He/She is also responsible to take care of the venue and other details of the board meeting.

2. Annual General Meeting

In compliance with ACRA rules and regulations, all Singapore incorporated companies must hold an Annual General Meeting within 6 months of the fiscal year-end. The company secretary is responsible to facilitate the AGM and prepare required documents for approval of financial statements, convening of AGM, selection of new company directors, and other matters.

3. Statuary compliance

Another important responsibility of a company secretary of a company is statutory compliance. The Accounting and Corporate Regulatory Authority (ACRA) has regulated some rules and regulations and every company must abide by those rules and regulations. He/She makes sure that the company is abiding by the ACRA rules and regulations and that there is no discrepancy in this regard.

4. File Annual Tax Returns

According to ACRA rules and regulations, all Singapore incorporated companies must submit their tax returns within 7 months of their financial year-end through the online BizFile portal. The company secretary makes sure that the deadline is not missed and all documents are complete and in noncompliance with the rules and regulations.

5. Updating Company Details

In case of any changes in the company details (change in company name, address, contact numbers, appointment of new company officers), the company secretary is responsible to update the changed information on ACRA and on the official documents as well.

6. Keep Company Seal

A company seal also known as the common seal is a stamp that is used by the company to endorse important documents like share certificates, contracts, and deeds. The company secretary is responsible to keep this seal and use it whenever it is required.

7. Company Identity

Another key responsibility of the company secretary is to ensure that all the company documents carry the correct company name, address, contact details, and entity number.

8. Overseas Operations

In case the company has overseas corporate connections, it is the company secretary’s responsibility to ensure that all overseas operations are following the law and there are no violations.

Why Choose BT Corporate Consultants For Corporate Secretarial Services in Singapore

1. Convenience

Hiring a good, experienced, and the qualified corporate secretary is not easy. You will have to go through hundreds of applications to find the right match. Consulting us means you save your efforts in searching for the right candidate. We will provide you with the best, most well-experienced, and well-qualified corporate secretary for your corporation.

2. Time-saving

Similarly, hiring is also very time-consuming and the process will take months. We can save your precious time that will be spent on hiring. We will provide you with the best corporate secretary in a few days. All you need to do is share your requirements with us and choose a suitable package, and we can start working for you. It’s as easy as that!!

3. Compliance

Running a business is not easy!! There are a lot of rules and regulations that need to be taken care of and any negligence or violations can land you in serious trouble. As your corporate secretary, we will make sure that your company is compliant with all laws and if there are any changes in the law, you will be immediately notified.

4. Expertise

The corporate secretary is an important and key position in a business and a lot relies on it. So, it needs a high level of expertise. At BT Corporate Consultants we will provide you with an expert level of services and our team will go above and beyond to assist you.

Feel free to contact us for more information. BT Corporate Consultants are here to help you any time.

Frequently Asked Questions

The primary responsibility of a company secretary is to make sure that the company’s corporate structure and governance are in accordance with the Singapore Company Act. Other than that, a company secretary has a lot of other responsibilities as well.

Yes, a company director can also be a company secretary if he fulfils all the requirements. However, if the company director is the sole director of the company, he cannot hold both positions.

No, they are different positions and according to the Company Act Singapore, a company should have appointed both a company director and a company secretary for company incorporation in Singapore.

A company secretary is appointed by company directors and his main duty is to ensure that the company is compliant with all rules and regulations. A company director is responsible for making decisions that are beneficial for the company.

Yes, according to The Company Act Singapore, every new person that wants to register in Singapore has to fulfil certain requirements and having a corporate secretary is one of them. The corporate secretary in Singapore must be a Singapore citizen, a permanent resident, or a valid Singapore pass holder.

Yes, a foreigner can be a company secretary IF he is a permanent resident of Singapore or he holds a valid employment pass, Entre pass, or dependent pass.