Hiring a Secretary For Your Company in Singapore
The Singapore Companies Act Section 171 makes it compulsory for companies in Singapore to have a company secretary service. Continue reading this informative article to learn the top information about choosing a secretary service for your new company.
Are there concerns relating to this topic which you need help with? When is it needed to get a company secretary service? What are the skills of a secretary? What's a company secretary intended to do? What's the cost of employing a secretary? Don't fret since this piece of writing has got the reply to your inquiries.
When is it needed to get a company secretary service?
It's mandatory for Singaporean corporations to have a secretary in six months time after being registered. There is a provision not to hire a qualified secretary if you have an Exempt Private Company. If you're a Private Limited Company, you should appoint one.
The main difference between the Exempt Private Company and Private Limited Company is in the amount of shareholders. The first has less than 20 (without corporate shareholders) while the latter can have less than 50. One of the shareholders of the Exempt Private Company could be the secretary supposing he / she is informed about the things to do. In the event that no one knows anything at all regarding being a secretary, it's absolutely essential to employ someone.
A secretary may be hired after the company's registration up to six months thereafter. This is favorable for small start-up businesses and business people who handle the process of registration themselves. A secretary may be hired as well to do the registration process when the firm opts to and has the necessary finances.
What are the skills of a secretary?
A designated company secretary should be a resident in Singapore who's either a citizen, permanent resident, having Dependent Pass or Employment Pass. It's as well required that a company secretary can show her skill for the career by possessing either one of these: 3 years of experience as company secretary, a Certified Public Accountant (CPA) degree, qualification according to the legal Profession Act or association with the Singapore Association of the Institute of Chartered Secretaries and Administrators, Institute of Certified Public Accountants of Singapore, Institute of Company Accountants Singapore, Association of International Accountants (Singapore Branch).
What's a company secretary intended to do?
The company secretary ought to do his or her task so as to stick to the Companies Act prerequisites and steer clear of equivalent penalties that he/she may personally carry. He/she must be proficient in:
What's the cost of employing a secretary?
A firm will need roughly S$600 to compensate a company secretary. Nonetheless, there are discounted deals that bundle incorporation services with one year of secretary service. This is a wise option if you require help with company registration, if not, simply hire a secretary service when you should.
Are there concerns relating to this topic which you need help with? When is it needed to get a company secretary service? What are the skills of a secretary? What's a company secretary intended to do? What's the cost of employing a secretary? Don't fret since this piece of writing has got the reply to your inquiries.
When is it needed to get a company secretary service?
It's mandatory for Singaporean corporations to have a secretary in six months time after being registered. There is a provision not to hire a qualified secretary if you have an Exempt Private Company. If you're a Private Limited Company, you should appoint one.
The main difference between the Exempt Private Company and Private Limited Company is in the amount of shareholders. The first has less than 20 (without corporate shareholders) while the latter can have less than 50. One of the shareholders of the Exempt Private Company could be the secretary supposing he / she is informed about the things to do. In the event that no one knows anything at all regarding being a secretary, it's absolutely essential to employ someone.
A secretary may be hired after the company's registration up to six months thereafter. This is favorable for small start-up businesses and business people who handle the process of registration themselves. A secretary may be hired as well to do the registration process when the firm opts to and has the necessary finances.
What are the skills of a secretary?
A designated company secretary should be a resident in Singapore who's either a citizen, permanent resident, having Dependent Pass or Employment Pass. It's as well required that a company secretary can show her skill for the career by possessing either one of these: 3 years of experience as company secretary, a Certified Public Accountant (CPA) degree, qualification according to the legal Profession Act or association with the Singapore Association of the Institute of Chartered Secretaries and Administrators, Institute of Certified Public Accountants of Singapore, Institute of Company Accountants Singapore, Association of International Accountants (Singapore Branch).
What's a company secretary intended to do?
The company secretary ought to do his or her task so as to stick to the Companies Act prerequisites and steer clear of equivalent penalties that he/she may personally carry. He/she must be proficient in:
- Handles the company AGM (Annual General Meeting) minutes and important docs. The annual financial reports, director's resolutions, allotment of shares and incorporation papers are a number of the essential files
- Carry out bookkeeping services and keeps the company's docs filed with the ACRA (Accounting and Corporate Regulatory Authority) like the Memorandum and Articles of Incorporation up-to-date
- Functions as the main contact person for the company directors and investors to get hold of information and facts about the Annual General Meeting (AGM)
What's the cost of employing a secretary?
A firm will need roughly S$600 to compensate a company secretary. Nonetheless, there are discounted deals that bundle incorporation services with one year of secretary service. This is a wise option if you require help with company registration, if not, simply hire a secretary service when you should.