It takes more than just guts or the perfect business plan to successfully do business in Singapore. Know that in such a bustling business hub, you can expect a number of challenges to sidetrack your success. It is thus important that you explore all available avenues that could be instrumental in helping you manage your business better. One of the routes you can take is to consider partnering with a corporate secretary services firm in Singapore.
Navigating the complicated business environment of Singapore can be a daunting task if you don’t have the expertise of a local firm to guide you. From strict regulatory requirements to the challenges you could face when hiring new people, it can be tough to keep pace with all that’s needed to be met and completed. A company secretarial service firm provides you with an extra hand to help you handle your administrative activities with ease and efficiency.
A corporate secretarial company in Singapore has the expertise and experience to handle your administrative function that is otherwise can be challenging if you’re relying solely on an in-house secretary. If you’re a start-up keen on immediately creating stability for your company, a local business looking to streamline your operations, or an offshore firm eyeing to position your business strategically in Singapore, a corporate secretarial services company can help achieve your desired outcome with its knowledge in expertly handling administrative requirements.
Just like a hand to a glove, your company and the corporate secretary services firm you will choose should be a perfect fit. Not all professional service providers are created equal, that’s why you should take note of these four factors when selecting a local firm that suits your business requirements.
1. Ensure that the local firm boasts of staff with proper qualifications
This is basically a standard procedure whether you’re hiring new employees or engaging a professional service provider. When scouting for a corporate secretarial service firm in Singapore, it is a must that the individual who will be appointed to you is:
- a resident of the country (must be a citizen, a permanent resident, or an EntrePass holder) has secretarial experience of at least three of the five years prior to appointment
- a qualified individual as per the Legal Profession Act
- a public accountant registered under the Accountants Act
- and a member of Singapore’s Institute of Certified Public Accountants, Institute of Chartered Secretaries and Administrators Association of Singapore, the International AccountantsAssociation Singapore, and the Singapore Institute of Company Accountants
All these requirements are mandated by the Accounting and Corporate Regulatory Authority (ACRA).
2. Check if the corporate secretary services firm knows the rules and regulations
This is one factor that can never be compromised. When hiring a corporate secretary services company in Singapore, make sure that it strictly observes all the rules and regulations promulgated by ACRA, particularly those that have been extended or modified. The local firm you will hire should know everything – from filing requirements and schedules to meeting other compliance requirements.
3. Verify that your professional service provider offers a comprehensive portfolio of secretarial services
On top of ensuring that all regulatory requirements are met, the company secretary services firm in Singapore that you will partner with should also be extremely knowledgeable in all administrative activities such as corporate governance, incorporation, dissolution, restructuring, and liquidation, amongst others, and must be able to handle these with efficiency.
It pays to have a local firm that can provide everything that you will ever need. There are corporate secretarial services companies in Singapore like Corporate Services Singapore that acts as a one-stop shop for all your corporate secretarial requirements – from the formation of local and offshore entities to the maintenance of statutory records, minutes, and registers.
4. Make sure that you get more value for your money
Hiring a company secretary services firm in Singapore becomes more cost-effective when the local firm you engage in can provide you with more than just the basic secretarial services. There are firms that offer company secretarial services package that involves additional services to help run your business more efficiently. Professional services providers like Corporate Services Singapore, for example, offer personalised services to provide tailored solutions unique to your business needs.
Keep in mind these four factors when considering to outsource your administrative function to a corporate secretary services company in Singapore. At the end of the day, you need a corporate secretary that you can rely on to be your dependable partner in ensuring your business success.
In this article:company secretary, secretarial services Singapore
Written By
Hans Teo
I'm a tax accountant, a corporate secretary and a general manager. I manage a wide range of accounting, audit and tax clients portfolio.
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