In today’s digital age, virtual corporate secretarial services in Singapore are becoming increasingly popular among businesses. This cost-effective solution allows entrepreneurs access to expert corporate secretary services virtually anywhere.
Corporate secretaries help businesses maintain compliance with government regulations and help streamline operations. We’ve written an article that talks more about the function and responsibilities of a company secretary if you want to learn more about it – but what about virtual corporate secretaries? Are they the same as regular company secretaries? How and why are businesses availing of these services nowadays?
What are Virtual Corporate Secretarial Services?
Virtual corporate secretarial services refer to providing remote corporate secretarial functions to businesses via the internet. Companies can communicate remotely via video conferencing, emails, and cloud-based systems with their virtual corporate secretarial service provider.
Through virtual corporate secretarial services, businesses can enjoy a range of corporate secretarial functions such as:
- Compliance with Regulatory Requirements
Virtual company secretaries can help businesses stay compliant by providing expert knowledge and guidance on the legal and regulatory framework. They can assist companies in preparing and filing necessary documents with the relevant authorities, ensuring they are up to date with the latest regulations and requirements.
- Maintaining Corporate Records
These corporate secretarial services can provide businesses the necessary support to maintain and update their records regularly. It includes maintaining a register of shareholders, directors, and officers and preparing meeting minutes and resolutions.
- Managing Board Meetings
A virtual company secretary can prepare meeting agendas, take minutes, and ensure all necessary documents are distributed on time.
- Maintaining Corporate Governance
Virtual corporate secretarial services can play a vital role in maintaining good corporate governance by ensuring that the company operates ethically and transparently. It includes providing advice on corporate governance matters and ensuring that the company complies with relevant laws and regulations.
It may also be beneficial to check out Lanturn’s short article on why you should choose a company secretary with a digital platform.
What is a company director, and does your company need one? Explore our comprehensive guide to know the role of a director of a company in Singapore and more.
How can Virtual Corporate Secretarial Services be a Cost-Effective Solution?
By outsourcing corporate secretarial functions, businesses can save time and reduce costs while ensuring compliance with all legal and regulatory requirements. These services can be a cost-effective option for companies in Singapore for several reasons:
1. Reduced overhead costs: By outsourcing corporate secretarial services, businesses can avoid the need to hire an in-house company secretary. And avoid associated costs, such as:
- Employee benefits; and,
- Office space.
2. Efficient use of time: Outsourcing corporate secretarial services in Singapore can help businesses focus on what they are good at and spend less time on administrative tasks related to compliance and governance. It can lead to an increase in productivity and revenue.
3. Lower risk of penalties: By engaging a professional virtual corporate secretarial service provider, businesses can ensure that their compliance obligations are met on time and accurately, reducing the risk of penalties or legal action for non-compliance.
4. Access to expert knowledge: Virtual corporate secretarial service providers often have a team of experienced professionals with up-to-date knowledge of:
- Regulatory requirements;
- Governance best practices; and,
- Industry-specific regulations.
Outsourced service providers give businesses access to valuable expertise without investing in training or hiring full-time staff.
Outsourcing has become an effective solution for new businesses. To learn more about it, you can visit Lanturn’s short overview on why you should consider outsourcing for your company.
Choosing the Right Service Provider
One must consider several factors when choosing a virtual corporate secretarial service provider in Singapore. Here are some tips to help you make the right choice:
- Consider the services you require and choose a provider that offers solutions tailored to your specific needs.
- Look for a service provider with a strong reputation and extensive experience in the industry.
- Ask for references or read online reviews to get an idea of the provider’s quality of service.
- Choose a provider that offers services at a reasonable cost without compromising quality.
- Consider the provider’s availability and responsiveness to ensure they can support your business needs.
Company Incorporation with Lanturn
Starting a business can be challenging, primarily when registering and hiring a company secretary. Not to worry, we’ve got you covered! Our Launch with Lanturn programme comes with industry-standard corporate secretarial services in Singapore tailored to meet your start-up budget.
At Lanturn, we’re dedicated to simplifying the incorporation process so that you can concentrate on growing your business. With over five years of experience, we’ve helped more than 400 businesses successfully register in Singapore. So, if you’re looking for affordable and reliable corporate secretarial services in Singapore, choose Lanturn!
Our Launch with Lanturn programme includes:
- A year of Lanturn’s premier corporate secretarial services.
- Experts handle the preparation and maintenance of company registers.
- For a whole year, the use of a premium business contact address.
- Professional company incorporation at a low cost.