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5 reasons why you engage Company secretary Singapore .pdf


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5 REASONS WHY YOU SHOULD
ENGAGE A COMPANY SECRETARY
IN SINGAPORE
Whether you are in process of incorporating
company in Singapore or you have registered
a Singapore company, one of the key
requirements for all companies incorporated
in Singapore is to have a company secretary
who must be a resident of Singapore.

Company secretary in Singapore is the primary
person or officer responsible for administrative
and reporting functions mandated by law. It is
therefore the job of company secretary to ensure
that the Singapore company he is responsible for
meets all the regulatory obligations.
As per law, every Singapore company has to
appoint company secretary within 6 month of its
incorporation.

As the company secretary is such a key position
in a company, the following are 5 reasons why
you need to appoint company secretary in
Singapore. These reasons are important for
companies and individuals who want to
incorporate company in Singapore.

1. MANDATORY AS PER LAW
The Accounting and Corporate Regulatory Authority
(ACRA), which is the national regulator of business
entities and public accountants, mandates that every
company must appoint a company secretary within
six months of the date of its incorporation.
This person must be a Singapore resident and cannot
be a sole director of company.
It is possible for a local resident company director to
also be the company secretary, but only when the
company has more than one director.

2. A COMPANY SECRETARY IS
RESPONSIBLE IF COMPANY FAILS
TO COMPLY WITH LAWS
According to ACRA website, The Secretary may
also be held liable for the co pa y’s failure to
comply with the law in certain situations.
In this very case, the secretary holds the highest
standard of responsibility and care towards its
directors. He or she has a fiduciary duty to keep
the directors updated of changes on Si gapore’s
Companies Act, all the statutory requirements.

3. A COMPANY SECRETARY PLAY
KEY ROLES TO STAKEHOLDERS IN
THE COMPANY
Company secretary of a Singapore company plays
extremely vital and key role, not only in the
context of being responsible for regulatory
compliance but in terms of being answerable to
the company, directors as well as shareholders.
To company: ensures all relevant statutory
obligations are met, business interest of the
company is always protected and good corporate
governance is practiced.

To company directors: serves as an adviser to
the directors and provide any practical
support that is needed; share timely
information with all the directors so that they
can contribute fully during the board
meetings.
To
company
shareholders:
regularly
communicate with the shareholders and
ensure their interests are protected; timely
disseminate financial statements so that
shareholders are prepared to take part in
decision making at the co pa y’s Annual
General Meeting.

4. A COMPANY SECRETARY’S DUTIES
AS PER LAW
There are several duties of company secretary in
Singapore which are obligatory to be complied
and a Singapore company secretary is therefore
necessarily required to exercise them:
Statutory compliance with ACRA – filing of the
co pa y’s annual accounts on time and
maintaining the necessary registers; notice of
share transfers, amendments to MAA, notice of
removal or resignation of auditors, change of
registered office address and any other
regulatory requirement by ACRA


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