Learn the Duties of a Singapore Company Secretary with J Accounting Services
According to Section 171 of the Singapore Companies Act, all companies operating in the country must appoint a secretary 6 months after their incorporation. Note that even where there is only a single shareholder or sole director, you will still need a company secretary. Any appointee to this position must be a natural resident, a citizen, a holder of Singapore Employment Pass or Dependant Pass holder. The duties of a company secretary in Singapore are divided into business and operational roles, and legal and financial duties.
This person must be qualified under the legal profession Act. That is why company secretaries are lawyers. The person must also have practiced in the same position for at least three of five years immediately preceding his employment. He/she must be a public accountant who is registered under the Accountants Act. These are just a few of the basic requirements.
Business and operational roles of a company secretary in Singapore
Financial and legal duties of a Singapore corporate secretary:
The Need for a Company Secretary in Singapore
A company secretary is a necessary appointee in all companies in the country. They take part in roles regarding the main operations of the business as well as in legal operations. Therefore, the position requires somebody who is well versed in business administration, accounting, finance practices and legal procedures. A corporate secretary is involved in major decision-making. If you are appointing a secretary for your company, it is best if you take time to recruit somebody who has the certification, experience and can proficiently carry out the duties of a company secretary in Singapore.
After you know and understand the importance of a company secretary, the next question is whether to hire full time or outsource. Definitely, the latter is more reasonable for small companies. If you think that corporate secretaries don’t earn his/her keep, know that theirs is a very serious position with lots of roles and responsibilities to fulfil.
At J Accounting Services we have specially designed company secretarial packages to suit your needs and requirements. This is basically targeted towards all small businesses from new startup company to established companies in Singapore. With our company secretary services, you would be able to build and grow other aspects of your business in the best possible way!