Introduction
Want to start a new business but feeling tensed on handling the legal, governance, operational and investor assurance responsibility single-handedly along with the other sides of ruling the company? Or, running your business with losses since a long time and looking for some change?
Why not entrust most of your responsibilities on a professional company secretarial and keep yourself focused on other important aspects of your company that only you alone can handle? Do you know, any company's secretarial can be hired from secretarial providing agent and you can choose the person holding the optimum degree for putting him/her in that position of your company?
It not only saves your time but also saves you from various legal and administrative errors which would otherwise cost you much. Let's know why hiring such a position for your company is important.
Company Secretarial Services - Why They Are Important
Structural and Legal Support
Want long-term success of the business that you run without any obstruction that can hinder the success? Want to stay away from legal troubles? Then appoint a secretarial for your company who will not only see-up regarding your company's legal sides but also extends an hand in Company incorporation.
He/she will play a vital role in the setup of your company by assisting you staying by your side. They will actively remain involved in your company's registration with ACRA. Besides, any business owner in Singapore is legally bound to keep such a position in their company. Furthermore, the secretarial also handles the company's AGM preparation. His/her timely reminders help you to skip the meetings.
Maintaining the Registers Accurately
Each company has some statutory registers. Maintaining these statutory records are very necessary. Whenever any updating happens in the company, the records must also be updated without failure.
The same job is sincerely done by the secretarial of the company. He/she also maintains the board resolution records in details. The same includes the shareholder resolution updates as well. All the legal procedures are carried out correctly.
Filing Returns on Time
The secretarial also helps in GST filing singapore for your company. Also, he/she handles all the ACRA filings. Each of the returns filings are done on time by him/her. So, because of his/her sincere monitoring of the filings of your company, your company doesn’t have to fall in legal troubles.
Operational Efficiency
Keeping a secretarial not only saves the company owner's time. With the help of him/her, the owner not only gets time to concentrate on other important administrative matters. Also, he/she increases the operational efficiency of the company by giving all the expert advices. He/she will advice the owner on how to expand the business. Also, he/she points out the fields where capital changes are necessary. He/she will also explain you the perfect corporate structuring needed for a company.
Keeping Fully Updated Ownership Details
The secretarial of a company maintains the fully-updated details of the Owners or the partners. The records are accurate. These records not only help to simplify the audits. They are also helpful in attracting and persuading the investors to invest in the company.
The reason for their attraction towards the company is it's robust corporate governance that the secretarial helps to bring in. Investors always wants to invest in trustworthy companies and with the help of a professional secretarial, your company would be such one.
Conclusion
So, are you thinking of keeping a company secretarial for your company? Then, take interview of some knowledgeable and experienced people with high quality degrees in this field and look out for the one who most suits your company and its needs.
Remember, a good secretarial may lift your company up and can gift you a prolonged years of success. Whereas an inexperienced or low-skilled secretarial may do just the opposite. He/she may gradually with his/her false steps lead your company to downfall. So, make your decision wisely. Best of luck for your search!
FAQS
1. Why a company is legally bound to keep a secretarial post in it?
The Companies Act of the Singaporean law makes a company legally bound for it. The same thing is written in the Section 171 of the law. The same thing must be dine by a company immediately after it is established. The maximum time period allowed is within six months.
2. If I am the company's director, can I apply for the secretarial position of the same?
No not at all. The two positions are different and so are the persons employed in those positions of a company. Legally, the positions must be hold by two different persons of a company.
3. Can I employ a foreign secretarial?
Yes, you can do it without any issue. But, the foreign secretary must reside in Singapore during the employment term. It is necessary so that, if needed, he/she might fulfill the residency requirements without any delay.
4. Should I be punished if I don't employ a secretary in my company?
Yes, if you don't do the same, you will breach the law of Singapore. So, the government will demand a high amount of fine from you. Moreover, ACRA will send you notice regarding the employment of secretarial in your company. Also, breaking the law will result in various operational forbiddances by government. Your company will not be allowed to do various operations. They might stoppage of bank audits, tax audits, etc.
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