Corporate Secretarial Services in Year 2020

WLP Group

Your Corporate Secretarial Service Provider In Singapore

Corporate Secretary Services

On this page, you will learn why WLP is the best corporate secretarial services Singapore provider in the year 2020. We discuss the needs of hiring a company secretary, the importance of a Singapore corporate secretary, qualification requirements, and finally the roles and responsibilities of a corporate secretary towards the company.

Over the past five years, WLP Group of Companies are proud to be one of the best secretarial company in Singapore, consistently offering professional corporate secretary who has helped thousands of companies to comply with the local law and jurisdiction. For more information, check out our list of corporate secretarial companies in Singapore.


Importance of Corporate Secretary

Besides maintaining daily paperwork, the Singapore corporate secretary is required to identify and prevent non-compliance with company policies or the legal framework.

Responsibilities of a Corporate Secretary

The company secretarial services Singapore job scope includes drafting, maintaining and organizing multiple essential documents.

Board Meetings and Annual General Meeting

The corporate secretary needs to set the schedule, organizing and maintaining the documents during the critical meetings of the company.


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Why Choose W.L.P Group?

A corporate secretary is someone who you should trust. WLP Group has been the trustworthy partner of hundreds of businesses in Singapore since 2013.

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Incorporated since 2013

Over 7 years of working with entrepreneurs in Singapore

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Corporate Secretary Services Q&A

WHY DOES YOUR BUSINESS NEED TO HIRE THE BEST CORPORATE SECRETARIAL SERVICES SINGAPORE FIRM

Referring to Section171 of the Singapore Companies Act (SCA, every Singapore business must hire a corporate secretary.

This corporate secretary is responsible for drafting documents and reporting to the local authorities when required to do so. The corporate secretary is accountable for ensuring the company complies with the current Singapore companies’ regulation and failure to abide to the local jurisdiction can cause hefty fine to the company.

According to the Singapore Company Act, all businesses upon successful company incorporation must appoint a company secretary within six months. You can nominate a local resident to become your company secretary, and he or she must reside in Singapore. Alternatively, you can also hire an individual who possesses Employment Pass (EP), Entrepreneur Pass (EntrePass), Dependant’s Pass and Permanent Pass. Do remember that once you have picked a company secretary, the same individual cannot be chosen as your company director.

The solution to this problem is to elect multiple directors so that one of them can combine both the roles of a director and company secretary. To save your time and effort in finding a reliable corporate secretary, you may want to consider engaging a professional corporate secretarial services Singapore provider like us to supply the ideal candidate as your corporate secretary.

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WHAT IS THE IMPORTANCE OF A COMPANY SECRETARY?

The tasks managed by a Singapore corporate secretary is not easy at all. Besides maintaining daily paperwork, failure to achieve compliance may cause severe repercussions for the company and its directors, which include facing expensive fines and penalty, sacking of the corporate secretary or director, and imprisonment.

That’s the reason why hiring an experienced corporate secretary or engage a trustworthy corporate secretarial services provider like WLP Group is crucial to your business survival since they are highly experienced and knows the ins and outs of this field. They also have an in-depth understanding of Singapore corporate law.

As mentioned earlier, a local resident can be elected as the company secretary. Alternatively, this role can be executed well by a filing agent or a highly-qualified person who can satisfy one of the following conditions as below. The filing agent should have a lot of experience with providing company secretarial services. The conditions are:

  • Appointed as a company secretary of a company for a minimum of 3 to 5 years before appointed as the secretary of a public company.
  • Meet the minimum qualifications as stated in the Legal Profession Act (Cap. 161).
  • Public accountant registered under the Accountants Act (Cap. 2).
  • Registered as one of the Member of the Institute of Certified Public Accountants of Singapore.
  • Registered as one of the Member of the Singapore Association of the Institute of Chartered Secretaries and Administrators.
  • Registered as one of the Member of the Association of International Accountants (Singapore Branch).
  • Registered as one of the Member of the Institute of Company Accountants Singapore.

WHAT ARE THE RESPONSIBILITIES OF A CORPORATE SECRETARY?

We have mentioned many times that the role of a Corporate Secretary is to ensure the company’s compliance with the local law. The job scope includes drafting and maintaining multiple essential documents. Here are some of the most common yet crucial tasks needed to be executed as a corporate secretary in Singapore!

WHAT ARE THE CORPORATE SECRETARY’S ROLE WITH BOARD AND ANNUAL GENERAL MEETINGS?

The corporate secretary needs to set the schedule, organizing and maintaining the documents during the critical meetings of the company. The corporate secretary will inform you about the required documents during the company secretarial services consultation.

WHAT ARE THE CORPORATE SECRETARY’S ROLE WITH MAINTAINING STATUTORY REGISTERS?

If there are any changes in the company structure or directors, the corporate secretary needs to update and report the changes to multiple registers, which include:

  • register of directors
  • register of members
  • register of transfers
  • register of allotments
  • register of secretaries
  • register of charges

WHAT ARE THE CORPORATE SECRETARY’S ROLE WITH LEGAL COMPLIANCE AND NECESSARY PAPERWORK?

The company secretary is responsible for informing the directors and shareholders for any changes in the company. Once the corporate secretary has received the next step of action from the board of directors, then only he or she can process these changes according to the Singapore legal framework.

This next step of actions can be in the form of drafting resolutions, edit the Company Constitution, and update ACRA on the latest changes in the company; which includes:

  • Change of the registered address
  • Change of company name
  • Change of company profile
  • Appointment or resignation of directors
  • Change in directors’ details
  • Appointment or resignation of Secretary
  • Change in the secretary’s details
  • Changes in the share capital or distribution
  • Any other special resolutions

WHAT ARE THE CORPORATE SECRETARY’S ROLE WITH MAINTAINING REGISTERED OFFICE?

It is compulsory to have a registered business address for any Singapore companies. The registered address must be a real place in Singapore, not just a PO box number. Please take note that you need to register the business address with ACRA and make sure all legal documents are sent to this address. This business address does not have to be the exact place where the real office is situated.

A registered business address can serve as a service, with the address provider receiving the correspondence, scanning and forwarding it to you for your reference.

Are you searching for more services other than corporate secretarial services? Are you looking for an accounting service provider in Singapore?

Need more corporate services such as company registration and incorporation? Click on the link for more information!

WHAT CORPORATE SECRETARY SERVICES DOES WLP GROUP PROVIDE?

WLP provides comprehensive Corporate Secretarial Services for Singapore Companies. The service includes:

  • Setting up and maintenance of Minutes File
  • Setting up and maintenance of Statutory Registers
  • Professional Secretarial Advisory
  • Preparation of notice and minutes of AGM
  • Filing of Annual Returns

*Note: Under the Companies Act, All Companies registered in Singapore must appoint a Company Secretary to handle Statutory Compliance Matters.

HOW SHOULD I PROCEED WITH CORPORATE SECRETARIAL SERVICES?

  • Latest ACRA Business Profile
  • Memorandum & Articles of Association of your Company
  • Provide Past Secretarial Records (if available)

WHAT ARE YOUR CORPORATE SECRETARIAL SERVICES FEES?

From S$300 Per Annum

Secretarial (Unlimited)

From S$600 Per Annum

2021 PROMOTION* – Get S$120 shopping voucher when you switch your service provider to W.L.P!

*Applicable for selected packages only

HOW CAN A CORPORATE SECRETARY HELP YOUR COMPANY?

Compliance to laws

A corporate secretary Singapore staff is required by the laws of Singapore. A corporate secretary Singapore staff can be hired six months within the company incorporation. A company secretary Singapore personal is important to every company as they fulfill a vital role in its success.

That is why there are many corporate secretarial services Singapore entities that offer a corporate secretary. the corporate secretary service Singapore firms ensure that your company abides by the laws and regulations set out by the Singaporean government.

Schedule important meetings

One of the things that the Singaporean government requires is the annual general meeting. This is important because this is where the director, board members, and shareholders meet annually and discuss important matters in the company. Big corporations are composed of busy people that is why it is hard to schedule these kinds of meetings.

The corporate secretary Singapore personnel is the one mandated to schedule the annual general meeting. Corporate secretary service Singapore firms also train their staff to be able to handle these kinds of jobs.

After the general annual meeting, a report about the meeting will be submitted to the government. The corporate secretarial services Singapore firm is the one that teaches the corporate secretary to do these kinds of reports.

WHAT ARE THE BENEFITS OF HIRING A CORPORATE SECRETARY SINGAPORE STAFF?

Improved productivity

Corporate secretarial services singapore entities train their employees to have the highest productivity and efficiency in a company. A corporate secretary Singapore personnel takes up so much off someone’s plate. They make room for more things to be done by other employees. A ccorporate secretary services Singapore does not let their employees be incompetent to handle these kinds of heavy tasks.

Can track goals

Aside from it, a corporate secretary Singapore staff can keep track of the company goals. Corporate secretarial services Singapore firms teach an efficient way to address and track these goals.

WHAT ARE THE THINGS TO LOOK FOR IN A CORPORATE SECRETARIAL SERVICES SINGAPORE PERSONNEL?

Experience

Even if you are hiring from a corporate secretary service Singapore company, you must make sure that they have enough experience to fulfill the job. Going through the right education is different from experiencing it. This is also why it is important that you are hiring from a credible corporate secretary service Singapore firm to make sure that the secretary is competent enough.

Testimonials of past employees

The feedback of past employers is also important so that you can have an overview or a general impression of what your corporate secretary Singapore staff would be. Corporate secretarial services Singapore and should be able to provide you with the feedback or reviews of your secretaries past employers.

A corporate secretary service Singapore company wouldn’t lie about these kinds of things as their credibility as a third-party firm is at stake.

WHO CAN BE A SINGAPORE REGISTERED COMPANY SECRETARY?

All companies are required to have a company secretary Singapore personnel. Under the Companies Act, Section 171, a company secretary Singapore personnel must meet the following criteria. The secretary should have been a company secretary Singapore staff of a different company for at least three to five years before being appointed as a secretary of a public company.

Their status should also be a Singaporean citizen, permanent resident, or EntrePass holder. The company secretary Singapore personnel is also not allowed to be the same person as the director of the company. This is applied when there is only one director of the company.

There are other things that must be fulfilled to be a company secretary. That is why it is advisable to hire a secretary from a company secretarial services Singapore. A company secretary service Singapore can provide you with the most qualified and competent secretary. Company secretarial services Singapore usually comes with a price for training and teaching the secretary.

WHAT ARE THE BENEFITS OF HIRING A COMPANY SECRETARY SINGAPORE STAFF?

Increased productivity

Company secretarial services Singapore trains and immerses your company secretary to do things that can help them be efficient. That is why a company secretary Singapore staff can help your company be more productive and do more things. A company secretary service Singapore entity deploys competent and well-trained individuals.

Law compliance

As stated above, a company secretary is required by the law. That is why there are many company secretarial services Singapore firms that offer this service. Failure to comply with this requirement may lead to fines, suspension, or even jail time for the company owners. Company secretary services Singapore entities help you comply with these kinds of important policies.

Professional opinion

Since these professionals are well trained by the company secretary service Singapore firms, their opinions and suggestions are valuable to the growth of every company. A company secretary service Singapore entity does not let an incompetent individual be had by their clients.

WHAT ARE THE QUALIFICATIONS TO LOOK FOR IN A COMPANY SECRETARY?

Solid background and experience

A company secretarial services Singapore firm makes sure that your secretary has a solid background, education, and experience. Their competency would be rooted in these kinds of skills and experiences. That is why it is important to get a credible company secretarial services Singapore entity. This is to make sure that you are getting your money’s worth through their services.

Trustworthy

Since the secretary would be dealing with many confidential documents, it is important that they are trustworthy. A company secretarial services Singapore entity can filter them. This is one of the things that you would be benefiting from the company secretary service Singapore form. You would not have to go through the hassle of filtering them out yourself.

WHAT ARE THE ROLES AND RESPONSIBILITIES OF A COMPANY SECRETARY?

Singapore is famous for having one of the most stable and successful economies in the world. Despite being relatively smaller than other prosperous countries, it has managed to be the top economy when it comes to business transactions. In 2020, it was awarded as the most business-friendly economy because of the policies and regulations that it implements. These policies are one of the most relaxed and supportive in the world. For example, to this date, it has one of the lowest tax charges that makes it more attractive for business investors.

Although these policies are one of the easiest and most convenient in the world, Singapore makes sure that they are properly implemented and observed. This is to make sure that the maximum effectiveness of these regulations is achieved. This way, they can maintain a desirable economic situation. One of the policies that are being strictly observed by the government is the existence of a company secretary Singapore staff. There are many roles that a company secretary Singapore employee must fulfill that is why it is legally mandated to have one.

A company secretary must be someone residing in Singapore. They are allowed to be hired as long as they are one of the following– a Singaporean citizen, permanent resident, or an EntrePass holder. They must also be of legal age with a solid educational background to qualify for this position. A company secretary should be hired within six months after the company incorporation Singapore procedure. This is the only time allowance the Singaporean government gives to secure a company secretary Singapore staff.

However, it is more advisable to get a company secretary during the company incorporation Singapore procedure or even before that.

The reason is, a company secretary can be of help during the company incorporation Singapore procedure. Since this process involves a lot of legal documents and paperworks, a company secretary Singapore staff can make this easier. more than offering a helping hand during the company incorporation Singapore proceeds, a secretary fulfills more roles in the company than you think. To know more, let us talk about the common roles and responsibilities of a company secretary Singapore staff.

HOW CAN A COMPANY SECRETARY HELP WITH LAW COMPLIANCE?

Ensures law compliance

As mentioned above, a company secretary is legally required by the Singaporean government. It should be higher not more than six months after the company incorporation Singapore and should have the proper qualifications for it to be legal. This provision is under the Companies Act Singapore which is a comprehensive guide when it comes to business operations in the country.

Keeps important documents organized

A company secretary takes over the most important documents in the company. They even have access to the confidential ones that are vital to the operations of the company. They keep these documents properly organized for when the company needs them, they can easily be acquired. The company secretary does not necessarily work in a specific department in a company. They are usually concerned with everything that is happening within.

HOW CAN A COMPANY SECRETARY HELP WITH ADMINISTRATIVE TASKS?

Schedule important meetings

They’re also tasked to schedule important meetings such as the general annual meeting that is also required by the Singaporean government. The general annual meeting takes place every 12 months and talks about the progress and other important matters regarding the company. However, all companies are given up to 18 months after the company incorporation Singapore procedure to hold a general annual meeting. After the first meeting, they are required to hold this meeting every 12 months. This is where general reports and other company matters are being discussed.

After this, the company secretary Singapore is also required to submit a report to the Singaporean government. That report includes all the things that have been talked about in the general annual meeting. Failure to hold this meeting and submit the necessary report can lead to some consequences. That is why it is important that a company secretary is skilled and competent enough to fulfill these kinds of roles.

Fulfills more roles than administrative ones

As stated above, a company secretary is required by the law. That is why there are many company secretarial services Singapore firms that offer this service. Failure to comply with this requirement may lead to fines, suspension, or even jail time for the company owners. Company secretary services Singapore entities help you comply with these kinds of important policies.

Need help?

A company secretary is vital to the operations of every company. Finding one might be tricky, that is why it is advisable to hire through trusted firms. WLP Group can provide you with a reliable and competent secretary.