Corporate secretarial services encompass a range of administrative and compliance-related tasks essential to a Singapore company’s smooth operation. The role of a corporate secretary is to ensure that your company remains compliant with legal and regulatory requirements and more. Check out the piece we wrote on the roles and responsibilities of company secretaries for more in-depth information.
In this article, we will explore how corporate secretarial services can help streamline the operations of your Singapore company.
Why Should You Avail of Corporate Secretarial Services in Singapore?
If you are running a company in Singapore, it is essential to ensure that you comply with the statutory obligations set by the government. Failure to do so can result in penalties, legal issues, and damage to your company’s reputation. Here is where corporate secretarial services can be beneficial.
Here are some of how these services can assist your company:
- Help you stay updated with changing regulations and requirements.
- Avoid penalties and legal issues by ensuring that your company files all the necessary paperwork and meets all the required deadlines.
- Provide guidance and support on how to handle compliance issues that may arise.
- Free up your time and resources to focus on your core business activities. It can help you operate more efficiently and ultimately help your company grow and succeed.
Thinking of availing of other corporate services? Bookkeeping can be another thing outsourcing companies can take off your plate. Read more about how outsourced bookkeeping can help you.
How Can Corporate Secretarial Services Streamline Your Singapore Company’s Operations?
Corporate secretarial services in Singapore are an essential resource for any company operating in this competitive market. These services can help you comply and navigate the country’s regulatory landscape.
Some of the benefits they provide include:
- Expert guidance on corporate governance matters. They can provide advice and guidance on operating a company ethically and transparently, ensuring that the company complies with the various legal and regulatory requirements.
- Helps maintain good standing with government authorities. Companies can preserve their reputation and credibility by constantly complying with regulatory regulations.
- Facilitates communication and decision-making. The company secretary can help organise, handle the logistics, and attend meetings for the board of directors and shareholders.
- Accurate record-keeping. It enhances the company’s overall operational efficiency by ensuring that company records and registers are up-to-date and correct, which can help prevent errors and misunderstandings.
Wondering how accounting services can benefit your company? Learn more about the benefits of outsourcing your accounting from our previous article.
For more detailed information, read on: The Benefits of Updated Bookkeeping and Accounting Record for Your Small Businesses
Benefits to Outsourcing Corporate Secretarial Services
Outsourcing corporate secretarial services can be an excellent option for entrepreneurs looking to set up a company in Singapore. It comes with the following advantages:
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- Saves money: Hiring a full-time corporate secretary can be expensive for small business owners. Outsourcing these services allows entrepreneurs to access the necessary expertise without incurring the high cost of a full-time employee.
- Compliance expertise: Corporate secretarial service providers are well-versed in the regulatory requirements and compliance issues facing businesses in Singapore. They provide business owners peace of mind knowing that their company complies with all the relevant laws and regulations.
- Time efficiency: By outsourcing corporate secretarial services in Singapore, entrepreneurs can free up time to focus on other essential aspects of their business, such as product development, marketing, and sales.
- Access to technology: Many corporate secretarial service providers use advanced technology to streamline their operations, making it easier for entrepreneurs to manage compliance-related tasks, stay organised, and reduce the risk of errors.
- Flexibility: It refers to the ability to adjust the level of services to meet a company’s changing needs. Being flexible is especially important for entrepreneurs starting a new business, as the necessary level of support can vary depending on the stage of the company’s growth. Once the company has grown bigger, its needs will ultimately change.
- Saves money: Hiring a full-time corporate secretary can be expensive for small business owners. Outsourcing these services allows entrepreneurs to access the necessary expertise without incurring the high cost of a full-time employee.
You can also consider hiring yourself a virtual CFO to streamline your company’s operations further. Feel free to check out our short article on how CFO Services can assist Singaporean startups to learn more.
Related Reference: What is a Company Secretary, and Why Choose One With a Digital Platform?
Incorporate Your Company with Lanturn
Are you looking to start a company in Singapore but need help? Let Lanturn help you! We offer a comprehensive solution to your business registration, and company secretary needs through our Launch with Lanturn Programme.
With our programme, you can relax and focus on building your business while we handle the complicated incorporation details. Our team of experts has successfully registered more than 400 companies in Singapore in just over five years.
For a very fair price, with this package, you can enjoy the following:
- A seamless incorporation process.
- Expert Corporate secretarial services for a whole year.
- Hassle-free preparation and maintenance of company registers.
- A year-long use of a premium business correspondence address.
