Paciol - A Trusted Company Secretary Service Provider
Whether it is about tracking all your deadlines and putting your documents in order or reviewing your company growth, Paciol can be your partner as a company secretary. Are you searching for the best company secretary in Singapore? Get started with Paciol now.
Why do you need a Company Secretary?
Per the Singapore Companies Act, every company must appoint a company secretary within six months of incorporating their company. A company secretary in Singapore ensures that the company complies with the rules and regulations stipulated by IRAS and ACRA. Every company in Singapore opts for corporate secretarial services for different reasons. Some of them are listed as follows:
- A company secretary is responsible for the company’s compliance with the company law. The duties and responsibilities of a company secretary translate to drafting, maintaining and organising multiple essential documents.
- In addition, the corporate secretary is also responsible for scheduling, organising and maintaining all the necessary protocols during the annual general meeting and board meetings.
- In addition to the board and general meetings, corporate secretaries also know to maintain registers and update them as per the transpired changes of the company.
- Corporate secretaries fill the annual returns and company accounts with the Account and Corporate Regulatory Authority (ACRA).
- The company secretarial; services are also about identifying the need for specific actions, informing the directors and shareholders as necessary and processing the legal changes according to Singapore’s legal framework.
NOTE: A company secretary must be either a resident of Singapore (a Singapore citizen or permanent resident) or a holder of Singapore’s employment pass/ dependant pass/ EntrePass.
Necessary Qualifications of Company Secretary in Singapore
- They must have been a company secretary for at least three of the five years immediately before being appointed company secretary of a public company.
- They must be a public accountant registered under the Accountants Act.
- Under the Legal profession Act, they must be a qualified person.
- They must be a member of the Institute of Certified Public Accountants Singapore.
- They must be a member of the Institute of Company Accountants, Singapore. In addition, they must be a member of the Association of International Accountants.
- They should be a member of the Singapore Association of the Institute of Chartered Secretaries and Administrators.
Roles and Responsibilities of a Company Secretary in Singapore
- The corporate secretary must ensure that all relevant statutory obligations are met from the company’s standpoint. They should ensure that good corporate governance is in practice and the business’s best interest is always protected.
- The company secretary serves as an advisor who provides the necessary practical support for the company director. Corporate secretaries are supposed to share timely information with all the directors to contribute holistically during the board meetings.
- In addition, the corporate secretary also regularly communicates with the shareholders to ensure that their interests are protected. The company secretary disseminates the financial statements for the shareholders to participate in decision-making at any point, including the company’s annual general meeting.
So, in a nutshell, the key roles and responsibilities of a company secretary include the following:
- Arranging for shareholder and director meetings
- Communicating with the shareholders adequately
- Maintaining the statutory registers and records of the company
- Providing administrative support and legal and administrative support in the preparation of meetings to the board
- Lodging and filing all the necessary documents required by the law in time
- Ensuring that the company meets all the compliance requirements
- Communicating adequately with the shareholders and assisting in the implementation of corporate strategies
- Staying up-to-date on relevant developments and changes in regulatory and statutory obligations.
Core duties of a Corporate Secretary from Paciol
At Paciol, we prioritise quality over everything. We can help companies in Singapore to:
- File annual accounts and maintain the necessary registers. To follow the statutory compliance with ACRA, we can handle notice of share transfers, a notice of removal or resignation of auditors, amendments to MAA, change of office address or other regulatory requirements by ACRA.
- We can also ensure that the company and the board of directors comply with the Memorandum and Articles of Association (MAA) at all times.
- Our corporate secretaries are proficient enough to arrange board meetings and general meetings to facilitate the company’s formal decision-making process.
- We can supervise share allotments, act as a communication channel for the shareholders and non-executive directors and assist with corporate governance.
- In addition, we can ensure that the company seal is safe and all the notices, business letters, and other official publications of the company maintain the norms of the company identity
This isn’t the end. We can do so much more. What do you need a company secretary for?