Why Do You Need to Outsource Your Company Secretarial Service in Singapore?
It is a MUST for every company to appoint a company secretary within six months of incorporation. So, who can serve as your company secretary?
Company secretary should be a Singaporean citizen, permanent resident or Singapore Employment Pass / EntrePass / Dependent Pass holder. Moreover, according to the ACRA’s website, the company secretary is required to possess at least one of the following qualifications:
- At least 3 of the 5 years of secretarial experience immediately before his appointment as secretary of the public company
- Qualified person under the Legal Profession Act, Cap. 161
- Public accountant registered under the Accountants Act, Cap. 2
- Member of the Institute of Certified Public Accountants of Singapore
- Member of the Singapore Association of the Institute of Chartered Secretaries and Administrators
- Member of the Association of International Accountants (Singapore Branch)
- Member of the Institute of Company Accountants, Singapore
Apart from that, a private company may appoint a non-qualified secretary as long as the directors make sure the appointed secretary has a reasonable knowledge of the regulations. Besides, the company secretary also needs to be responsible for paper filing important company documents in the company register folder, and also online with ACRA, not to mention to hold an up-to-date Bizfile. The company’s register is normally kept at the registered mailing address, and can be cited by ACRA officials should they visit.
The responsibilities of a company secretary are very crucial to every company. The company secretary is expected to carry out all secretarial functions well from record keeping to acting as an executive assistant and communications officer. Therefore, in order to be able to perform all the important tasks with efficiency, this will require a highly skilled an exceptional company secretary.
Looking at the importance of a company secretary, have you considered to outsource your company secretary? Apart from hiring an in-house company secretary, outsourcing company secretarial services have slowly become a trend in the marketplace now. However, don’t just outsource anyone, but hire someone who is competent to help you at your business start-ups.
Outsourcing your company secretary gives you and your company lots of advantages. Such advantages can greatly contribute to the effectiveness and efficiency of the daily operations of the company and would lead to your company’s growth as a whole. In addition, your company can save in matters regarding office space and equipment such as fax machines, copiers, computers, etc. since the outsourcing company already provides these. The amount of money that saved can be used on improving the business development and infrastructure.
Plus, your company can benefit from the extensive experience and knowledge of skilled individuals who possesses a high level of training in company secretary service. Your company will also able to save on the costs of training since the screening of the qualified team is part of the outsourcing company’s responsibilities. Based on its specific needs, your company may also avail of the other services tailored for it and offered by the outsourcing company.
Hence, the benefits of outsourcing the company secretarial role far outweighs the benefits of hiring a company secretary in-house that the demand for it has been increasing and is expected to rise further in the future.