Company Secretarial Services in Singapore

A corporate secretary is an officer who ensures that the administrative processes within his or her organisation run smoothly and according to regulations. They are tasked with ensuring that the business complies with the relevant statutes and regulations, and acts as a liaison between board members and staff. Corporate secretaries are also responsible for managing the company’s internal affairs, including overseeing compliance with various legal rules and regulations. In Singapore, they share responsibility with company directors for certain legal obligations. If the Secretary finds any breaches of the law, he or she must report them to those involved to ensure that matters are dealt with as soon as possible.

Yes. As per the Singapore Companies Act, it is mandatory for every company that is incorporated in Singapore to appoint a corporate secretary within 6 months of its company incorporation.

Additionally, all private and public companies must appoint a corporate secretary as per the Singapore company law. Only a sole proprietorship and limited liability partnership (LLP) business entity does not require a corporate secretary role.

To ensure full compliance with these legal requirements, Segovia offers comprehensive company incorporation services, guiding businesses through setup and ensuring they meet all statutory regulations, including the appointment of a corporate secretary.

You cannot take up the role of a corporate secretary if you are the sole director of your business even if you have the experience or qualifications to be one. However, it is possible for a director to be a corporate secretary only if there are more directors in your company.

Another thing to note is that the director of the company needs to ensure that the company is performing up to standards and achieving its desired business goals. The corporate secretary’s main responsibility is to aid the director in accomplishing his goals by making sure the business is complying with all the statutory and regulatory policies.

Corporate secretaries act as advisors to the board of directors in legal and financial matters, as well as perform other important dutie, including:

• Maintaining and updating the company’s statutory registers
• Planning and preparing for board meetings, as well as documenting it
• Filing any changes in company details such as addresses, share transfers, or updates in the company’s constitution to ACRA within the stipulated time
• Filling of all essential documents as required by law within the given time
• Preparing and filing of annual returns with ACRA
• Ensuring the company seal is kept in safe custody and used only on required documents
• Ensuring there is an adequate insurance cover for the company and all its employees
• Advising the board of directors and shareholders on their roles and responsibilities, as well as on what needs to be done to stay compliant with the law
• Being the point of contact for the shareholders and communicating with them regularly

Hiring a professional corporate secretarial services provider to take care of all your company’s secretarial duties is a great way to save time and money, so that you can save on your business expenses and focus on your more important tasks. If you are looking to appoint a corporate secretary for your company in Singapore, look no further than Segovia. Our high-quality services can help you meet the necessary requirements and maintain compliance effortlessly.

A Corporate Secretary is a senior role in a corporation, tasked with ensuring compliance with legal and regulatory mandates. This role involves managing corporate records and organising board as well as shareholder meetings. While secretaryship encompasses the administrative and strategic responsibilities required to maintain the integrity of the governance framework.

Hiring an in-house company secretary in Singapore can cost between S$60,000 and S$100,000 annually. Alternatively, outsourcing company secretarial services can range from S$600 to S$3,000 per year, making it a more cost-effective option for many businesses. If you’re considering such services, Segovia’s secretarial offerings could ensure trusted and efficient management of your compliance needs.

No, a Singapore company cannot operate without a secretary. Every business must appoint a company secretary within six months of incorporation, and this position cannot remain vacant for more than six months.

Yes, even small companies in Singapore are required to appoint a company secretary within six months of incorporation, as mandated by the Companies Act.

The main distinction lies in their roles: a corporate secretary primarily handles various organisational and administrative duties within a business. In contrast, a company secretary is a professionally qualified individual responsible for ensuring legal and statutory compliance.

In Singapore, a company secretary must be a resident, which includes citizens, permanent residents, or Employment Pass, S Pass, or EntrePass holders. They are also required to have relevant qualifications and experience to fulfil the role effectively.

To change your company secretary in Singapore, you must first draft a Directors’ Resolution to confirm the new secretary’s appointment and the outgoing one’s resignation. Then, prepare a resignation letter for the outgoing secretary and obtain the new secretary’s consent using Form 45B.

Lastly, these documents must be submitted to ACRA for official lodgment, ensuring the change is formally registered. The new secretary typically helps facilitate this process, including file transfers from the previous secretary.