Every Pte Ltd company in Singapore must appoint a Company Secretary within 6 months of the date of its incorporation. The appointed Company Secretary must also be residing locally in Singapore and he/ she must not be the sole director of the company. So what does a Company Secretary do, you may be asked. It seems that very few people can tell you what exactly a corporate secretary’s job entails.
Principally, the company secretary is responsible for ensuring the company complies with the following:
1) Company law,
2) Maintains certain statutory registers and
3) Makes the necessary filings with the ACRA such as annual returns, change of officers of the company, and share transfers, among others.
Unfortunately, there is a laundry list of misconceptions by business owners that a Company Secretary does nothing! Those who are not familiar with corporate governance might be inclined to believe that a Company Secretary just does the yearly thing of submitting the AGM minutes. In reality, they are responsible for making sure the company is in compliance with existing regulations and that all the corporate affairs of the company are in order.
By appointing a qualified Company Secretary, it is safe to say that you can be ensured that your company’s compliance with the Companies Act is well taken care of. Thus, let us know if you want to take the next step to appoint a qualified Company Secretary for your company!