STREAMLINE COMPLIANCE AND FOCUS ON GROWTH WITH CORPORATE SECRETARIAL SERVICES IN SINGAPORE
Your Trusted Partner for Corporate Governance
Searching for Reliable Company Secretary Services in Singapore?
Keeping up with the long and ever-expanding list of requirements for a company secretary in Singapore has become vital for companies. Any failure to meet statutory obligations can lead to legal, financial, and reputational repercussions.
Singapore businesses must elect a company secretary within six months of incorporation. The responsibility of a corporate secretary is to keep your company on track and in compliance with local legislation. Therefore, companies can either recruit a full-time secretary or outsource company secretarial services.
Partnering with a competent and experienced provider of corporate secretarial services in Singapore can ensure that your firm meets all legal obligations. So delegate the corporate secretary duties to us while you focus on the core business functions. Our dedicated experts will take care of everything on your behalf.
To make your life easier, at Accounting Consultancy, we also offer company incorporation services in Singapore. If you have any inquiries, do not hesitate to reach out to us today!
Benefits of Company Secretarial Services
Compliance Expertise
We assist you in navigating complex legal obligations, avoiding penalties, and maintaining good standing with regulatory authorities.
Professional Advice and Guidance
We offer strategic advice on corporate governance, Singapore company incorporation, company structuring, and compliance best practices.
Security and Confidentiality
Our team prioritises confidentiality in corporate matters, especially when dealing with sensitive company information and legal documentation.
Time and Cost Efficiency
Our corporate secretarial services in Singapore can save you time and reduce your administrative burden.
Singapore Company Incorporation Process
According to the World Bank rankings, Singapore has one of the most business-friendly regulatory systems in the world. However, establishing a business in Singapore can be difficult if you do not have the proper support or guidance. Once you understand all the prerequisites, starting a company in Singapore can be easier than you think.
- Select a Company Name
Every company should register their name and get it approved by the Accounting and Corporate Regulatory Authority (ACRA) using its online portal. The proposed name cannot include any restricted or unattractive words nor be identical to an existing company name.
- Choose Your Directors
The company’s affairs are managed by its directors. All company directors should be natural persons who are at least 18 years old and have full legal capacity. They should also be free from any disqualifying circumstances, such as bankruptcy or conviction for fraud or dishonesty.
- Determine Shareholders and Share Capital
In Singapore, a company is required to have a minimum of one share, which costs S$1 in paid-up share capital, and one shareholder. A private limited company can have a maximum of 50 shareholders. These investors can be from anywhere in the world, and they are allowed to attend meetings, propose improvements, and make critical choices. These decisions include modifying corporate regulations, changing leaders, or dissolving the organisation.
- Appoint a Company Secretary
A Singaporean company is required to designate a ‘company secretary’ within six months of its incorporation. This can be accomplished through in-house recruiting or by utilising a company secretary service in Singapore. The company secretary must be a natural person and a local resident. They should also have the ‘requisite knowledge and experience to discharge the functions of secretary of the company’ (Section 171 of the Companies Act 1967).
- Establish the Company Address
When starting a company in Singapore, it is crucial to provide proof of address. The registered address of the business should be an actual physical location in SG and not a PO box.
- Prepare Registration Documents
Following the approval of the company name, the business should prepare the necessary documents for incorporation, including:
- A Company Constitution.
- ‘Consent to act’ forms, each signed by the relevant directors
- ‘Consent to Act’ form for the company secretary.
- Details of identification for all shareholders, officers, and beneficial owners of the company
- In order to assist authorities with identifying the ultimate beneficial owners, corporate shareholders should submit their certificate of registration from their home jurisdiction as well as details on the ownership structure.
- Get a Business Licence
Once a company has received its certificate of incorporation, it needs to make sure it holds the proper registrations or permits for the relevant industries. For instance, businesses that offer financial services in Singapore should be licensed to operate.
- Register for GST
Goods and Services Tax (GST) is an indirect tax on businesses that provide goods or services. If the estimated revenue of a company exceeds S$1 million, it must register for GST with the Inland Revenue Authority of Singapore and remit the taxes.
- Assure Ongoing Compliance
Once registered, the directors are responsible for ensuring that the company adheres to Singapore legislation.
Pricing Plan for Every Company Size
Basic
- Appoint Qualified Individual as your Company Secretary
- Maintain minutes and register book
- Provide reminders of submission deadlines to ACRA
- Professional Advices on Company Secretary matters
- For Dormant Company only
Essential
- Appoint Qualified Individual as your Company Secretary
- Maintain minutes adn register book
- Provide reminders of submission deadlines to ACRA
- Professional Advices on Company Secretary matters
- For Active Company
Premium
- Appoint Qualified Individual as your Company Secretary
- Maintain minutes and register book
- Provide reminders of submission deadlines to ACRA
- Professional Advices on Company Secretary matters
- For Active Company
- Free Director's resolutions for change of address, company name, principle activities etc.
Testimonials
FAQs
A company secretary is responsible for ensuring legal and regulatory compliance, maintaining proper corporate governance practices, and providing support to the board of directors.
Their role includes tasks such as filing statutory documents, organising board meetings, maintaining company records, and advising on corporate governance matters.
Company secretaries are important as they help the company meet its legal obligations, protect shareholder interests, and ensure effective decision-making within the organisation.
Singaporean companies must adhere to various statutory requirements, including:
- Appointing a company secretary within six months of incorporation.
- Holding an Annual General Meeting (AGM) within 15 months of the previous AGM.
- Filing annual returns with the Accounting and Corporate Regulatory Authority (ACRA).
- Maintaining proper accounting records and preparing financial statements in accordance with the Singapore Financial Reporting Standards (SFRS).
- Complying with tax obligations, such as filing tax returns and paying taxes.
Following any regulations related to employment, intellectual property, data protection, and other relevant laws.
While it is possible to appoint company directors to handle the company secretary’s duties themselves, it can be time-consuming and requires knowledge of legal and regulatory requirements.
Hiring a professional company secretary service in Singapore ensures that the responsibilities are handled efficiently, allowing business owners and directors to focus on core activities.
- Get in touch with us to prepare Singapore incorporation documents for directors’/shareholders’ signatures (or e-sign).
- Once signed, we will submit the Incorporation Application to ACRA.
- Upon successful incorporation, we deliver your “Business Profile” to you.
