In Singapore’s fast-paced business environment, selecting a capable and trustworthy Company Secretary is not only legally required but also a wise strategic move that may have a big impact on the success and growth of your company. Maintaining solid administration procedures, ensuring compliance with administrative obligations, and facilitating effective communication between the board, executives, and stakeholders are all vital tasks performed by a company secretary. The main things to think about when selecting the best company secretary service provider in Singapore for your business will be covered in this article.

What to Consider While Choosing the Best Secretarial Service for a Company?

Secretarial services are one of the most suspicious ones to outsource. However, dealing with a trusted secretarial service provider reduces the risks of any suspicion. Here are the top considerations for choosing the best secretarial service:

1. Verify Corporate Secretary Is A Registered Filing Agent

A Registered Filing Agent (RFA) is a company or individual that routinely transacts business with the Registrar (ACRA) on behalf of another individual. Currently, it’s not as difficult as people think to meet the requirements needed to get hired as a corporate secretary. Anybody can serve as the company secretary of a private limited company. However, you are unable to serve as both the Company Secretary and the only Director.

It is a typical misbehavior to set a low initial cost for the first year and then raise it the next year. Online company secretarial services are available for most businesses you operate. Hence, it is essential to deal with a trusted and reliable company secretary service provider in Singapore like Bestar.

2. About Cost And Services Offered

When a person or business is wanting to buy goods or services, price is always a consideration. This is also true when you’re looking to hire a corporate secretary for your firm. However, it is crucial to remember that choosing a corporate secretary shouldn’t be focused solely on cost.

This is mostly due to the fact that secretarial service providers for different companies assign their clients a range of tasks. This entails important compliance duties such as adhering to legal obligations, monitoring statutory documentation, and calling board meetings. Companies that provide company secretarial services usually charge a low fee to entice customers, then tack on a lot of extra expenses once the sale is closed.

3. Approach To The Company Secretary

Inquire of the company the following important questions if your company is about to enter into a contract with an outside corporate secretary firm:

• Who will be in charge of my company?
• Is it possible for me to speak with the individual directly?
• Do they really know what their duties and responsibilities are?

While searching for a company secretarial for your business, you should evaluate the qualifications and experience of any potential advisors. You must ensure that each employee is qualified to do company secretarial tasks, even if you choose to use an outsourced company secretary service. You can determine whether the selected company secretary services provider in Singapore is a suitable fit for your organization by reviewing the responses to the aforementioned questions.

4. Up-to-date Knowledge About the Latest Trends And Changes

Legal norms, legislation, and modifications are always evolving as a result of the market’s volatility and the speed at which time is passing. However, business owners may find it especially difficult to understand the legalese and language employed in various laws and regulations. Therefore, you need to hire a business secretary who is knowledgeable about the most recent revisions and who stays up to date on all changes to laws, regulations, and legislation.

5. Punctual And Authenticity

The company secretary is the one who has to keep an eye out for the firm’s filing deadlines. He or she needs to be well apprised of the company’s yearly IRAS and ACRA compliance duties.

For late submissions, the director of the company may be subject to fines and penalties in addition to other repercussions. The director bears primary accountability for the organization, which clarifies why. Does your secretary have a habit of forgetting things? Has there ever been a late submission penalty that was easily avoidable by doing this? Seeking a corporate secretary who is efficient, trustworthy, and timely in filing is what you want to do.

Evaluate the Responsibility of the Corporate Secretary Service Provider

Before dealing with the corporate secretary service provider, it is crucial to evaluate their responsibilities and roles. Here’s a quick go-through consideration:

Secretary Agent Experience

The foremost consideration in evaluating the responsibility of a company secretary service provider in Singapore is the experience and years of expertise served by them. Professionals with a wealth of knowledge and expertise are well-versed in corporate practices, possess a proper understanding of the intricacies of regulatory requirements, and can offer crucial insights to the company’s management and board of directors.

Knowledge Of Local Regulations

A competent secretary service provider shall have a proper understanding of the governing laws and regulations of the company’s operations. The knowledge of local regulations can be evaluated by considering the following:

• Statutory obligations
• Company laws and regulations
• Corporate governance guidelines
• Filing requirements
• Regulating updates and changes

Communication Skills

Communication skills are one of the important factors to be considered prior to dealing with the right company secretary services provider in Singapore. The service provider serves as a liaison between the company, its relevant stakeholders, authorities, and other relevant parties. Additionally, the provider shall be fluent enough in communication to resolve and respond the issues and inquiries.

Technological Competence

In the digital era of evolving technologies, the corporate secretary service provider shall be technologically competent. Further, the use of modern technology enables one to have efficient document management, enhanced communication processes, and essential record-keeping practices. With the best technological practices, companies can ensure:

• Streamlining administrative tasks
• Improved operational efficiency
• Flexibility in decision-making
• Enhanced data security

The End

When selecting a company secretary services provider in Singapore, there are several factors and roles to be evaluated. From verifying their registration to the price and range of services they offer to the latest trends and changes and much more shall be looked after before dealing with them. Further, businesses can evaluate their experience, knowledge, communication skills, and technological competence to make a concrete decision.

Bestar is one of the best company secretary services providers in Singapore. Looking to hire secretary services for your business? Contact us right away at admin@bestar.com.sg or give us a call at +65 62994730.