Corporate Secretarial Services are vital for a company. They ensure the day-to-day operations of a company and even their incorporation. From handling administrative tasks to facilitating communication in a company, the secretaries perform crucial tasks.
As per the law, incorporated companies must hire a company secretary. Therefore, it is highly important to hire a reliable and efficient company secretary for a smooth operational run and absolute law compliance. Fortunately, in Singapore, secretary services could be accessed through various company secretary service providers.
To get a hold of essentiality and why it is mandatory to have one, let’s understand the role of a company secretary.
What is the key role of a company secretary?
The role of a company secretary encompasses:
– Complying with corporate governance, legal regulations, and financial regulations of a company
– Managing administration related to the company’s shareholder
– Building a good rapport with stakeholders and shareholders
Also, a company secretary can impart strategic advice to the company’s board of directors (BOD). Apparently, a company secretary is very essential for the smooth running of a company. The corporate secretary service ensures in meeting all these responsibilities and are available in Singapore.
However, as per the 2008 legislation, a company secretary is not mandatory for limited companies. Despite the relaxation, companies select company secretaries as they have an essential role in a company.
Detailed overview of company secretary’s role
As per the Companies Act, every incorporated company in Singapore should appoint a company secretary within the period of the first six months.
The candidate appointed as a company secretary must meet the criteria of a natural being and should be a resident of Singapore. Also, the person holding the position of a company secretary should fulfill all his/her duties related to administration, advisory, and fiduciary.
Administrative role-
A company secretary’s administrative task comprises the smooth function of business operations. This includes maintenance of registers, books and minutes of the meetings, submission of yearly return to ACRA, monitoring the laws and regulations compliance, and others. Completing these responsibilities before deadlines will save the company from any future liabilities. Also, the board of directors gets to concentrate on business rather than handling these administrative duties. Additionally, secretaries help in facilitating communication across management and throughout the company by prompt reporting to the respective parties.
Advisory role-
A company secretary should be well-versed with the compliance frameworks circumference laws like income tax act, companies act, and internal governance. The role is to facilitate the top management with fey information and easing the decision-making process and formulating strategies while following the regulations.
Fiduciary role-
A company secretary must always act in the company’s interest in good faith. They should also avoid or disclose conflicts of interest that arose during the course of his/her term.
All the important duties that seem to have the potential of jeopardizing any company’s operation must be carefully fulfilled with dedication, competence, and meticulousness. The company should always hire a trustworthy candidate for the company secretary’s post as the duties as the responsibilities are of high value and can’t be risked.
Bestar Corporate Secretarial Team
The individuals that are members of the Singapore Association of Chartered Secretaries and Administrators and Bestar’s corporate secretarial team are highly competent and qualified in carrying out the duties of a company secretary in accordance with the specified regulation.
The team is highly dedicated and will respond within 24 hours to ensure the smooth functioning of the business. We, at Bestar, have a good understanding of the complete secretarial ecosystem and their proficient duties for a company. Therefore, to keep the clientele completely satisfied we have taken the responsibility a notch above.
Our corporate secretarial team will cover all administrative aspects of the business that is often overlooked like tax service support and other similar duties. It is our sense of responsibility that makes us unique and one of few to do so.
Our highly dedicated team believes in a time-saving and cost-effective workflow. For instance, the incorporation of a company in Singapore could now be done in an hour instead of spending two working days. With time saving and smooth execution, Bestar has built an impeccable reputation in the market.
If a company approaches us for a corporate secretarial team we make sure to meet all the requirements within time and at the most affordable rates.
We also offer customized services and personalize as per the requirement stated by the client. Bestar, a company secretary service provider of Singapore offers the most affordable secretarial fees in the market without any compromise in the service quality.
