Corporate secretarial services are essential to ensuring that a company in Singapore adheres to the legal and regulatory requirements set by the government. These services are typically outsourced to a professional provider who acts as a Corporate Secretary for the company. This outline aims to examine the significance of engaging a reputable service provider to improve a company’s reputation and ensure long-term success.
Importance of Corporate Secretarial Services in Singapore
The corporate secretary ensures the company meets its legal obligations and requirements and manages its daily administrative tasks. It is a legal requirement for all companies in Singapore to appoint a company secretary within six months of their incorporation, who is responsible for ensuring that the company adheres to all the relevant laws and regulations in the Companies Act.
The corporate secretary is an advisor to the board of directors, informing them about their responsibilities and obligations under the law. They also act as a crucial link between the board and the company’s stakeholders, ensuring that the company complies with any changes in the law that may impact the company. Read Lanturn’s previous article for complete information on the company secretary’s qualifications, roles and duties.
Impact of Corporate Secretarial Services on the Company’s Reputation
Corporate secretarial services help Singaporean companies stay legally compliant. The company secretary is legally required to ensure the business fulfils all its regulatory obligations and complies with the relevant authorities and stakeholders.
In addition to legal compliance, corporate secretarial services help streamline administrative tasks, allowing companies to improve their efficiency and effectiveness. Outsourcing these tasks to a professional service provider can free up valuable company resources and time, enabling businesses to focus on their core operations. It increases efficiency and effectiveness, ensures legal compliance, and establishes a positive image for the company with clients and government entities.
Besides availing of corporate secretarial services in Singapore, you should also consider acquiring the assistance of a virtual CFO. If you are unfamiliar with this, you can check out our overview of how an outsourced CFO can give your start-up an advantage.
Benefits to Outsourcing Corporate Secretarial Services
Outsourcing corporate secretarial services in Singapore can benefit companies, especially those new to the Singapore market. Professional service providers give companies access to a team of experts knowledgeable in Singapore’s corporate laws.
With a reliable service provider, companies can ensure that they meet their legal obligations, remain compliant with relevant regulations, and benefit from the expertise of experienced professionals, enabling the company to succeed.
- An excellent corporate secretarial services provider can help identify and mitigate potential risks. Ensuring that the company complies with relevant legal responsibilities can help the company avoid legal and financial risks, which can impact its reputation negatively.
- They can also provide advice and guidance on best practices for corporate governance, which can help the company make sound decisions that are in the business’s and its stakeholders’ best interest.
- By managing the necessary filings and documentation, they can also provide valuable support during important business events, such as mergers and acquisitions. It can help ensure that the transaction proceeds smoothly, which can help maintain the company’s reputation in the eyes of investors, stakeholders, and the public.
- A capable corporate secretarial services provider can also provide insights and advice on the latest regulatory changes and how they may impact the company. It can help the company stay ahead of regulatory requirements and avoid compliance issues that can damage its reputation.
Also, consider outsourcing your payroll, as this could assist you in keeping compliant with the country’s employment standards. To help you make your decision, check out the following articles:
– 5 Reasons To Outsource Your Payroll Services
– 5 Qualities of a Good Outsourced Payroll Service
Stay on top of regulatory compliance for your Singapore business. Our comprehensive guide helps you understand its importance and develop compliant processes.
Launch your company with Lanturn
Want to avail yourself of corporate secretarial services in Singapore, but are afraid to exceed your start-up budget? We have a package that can help you out.
Introducing the Launch with Lanturn programme. A specially crafted package for first-time business owners to set up their company in Singapore at an affordable cost.
Let the professionals at Lanturn take care of all your incorporation and company secretary needs. Our company has over five years of experience under our belt and a history of successfully assisting over 400 firms with their business registration in Singapore.
Here’s what you can expect from our cost-effective programme:
- Make the most of your money with low incorporation fees.
- One year of excellent corporate secretarial services from Lanturn.
- Professional preparation and maintenance of company registers.
- One year use of a premium registered address for your business correspondence.
We have always been committed to making the incorporation process as simple as possible for our clients. So you can have more time to focus on what’s crucial – running your company!
Save yourself the hassle and launch your business with Lanturn!