Company Secretary plays a key role in running the business efficiently. As per the company law of Singapore, every company must appoint a secretary. This hiring should be made within the six months of company incorporation. But finding a competent candidate for the organization is not an easy task!
Several companies will employ the candidate by taking help from a professional outsourcing company. Nowadays, countless companies providing Corporate Secretarial Services Singapore are available in the market. They are highly specialized and have experience in this field. With the help of their talent pools, acquiring a perfect candidate is not difficult anymore.
Read and continue to know the importance of engaging with a Corporate Secretarial Firm!
Need for Company Secretary Services in Singapore
Many companies try to employ a secretary alone, which is not a good idea. There are several crucial things they need to look out. But qualified companies will help in adhering to the rules and regulations of ACRA. They will ensure the process of hiring a company secretary is seamless.
Outsourcing services from a reputed agency is the best idea. They will become the saviours of companies from the legal matters. A company with immense knowledge and expertise will reduce the burden with their services.
They will make sure of everything. Several things to consider at the time of hiring. Such as who will be a perfect candidate, qualifications of secretary, ACRA requirements, etc. Employing them is cost-efficient for companies and can assist in company formation.
Best Tips to Select Corporate Secretarial Services Singapore
With countless specialized corporate companies available in the market, choosing the top company has become challenging. In this digital world, the recommendations, feedback, and ratings of the corporate secretarial firm are available on the internet. That makes it difficult to identify the professionalism and quality of their services.
In fact, it becomes mandatory for enterprises to consider some things before selecting one. What do companies need to look out for in a corporate secretarial firm? The crucial things are mentioned below.
Let’s have a look!
- Pricing and Services Offered
The first consideration for companies is price. But this is not the only factor to consider for filtering the various companies to identify the right one.
The roles and responsibilities of a secretary may vary differently. It can range from essential compliance to ongoing compliance. Basic compliance means scheduling meetings and meet the statutory requirements or annual return fillings. On the other hand, ongoing compliance includes updating the particulars of shareholders, directors, and companies.
Many firms price their services very low to attract customers. But after the company secretary’s appointment, they will charge the additional extra charges. For example, the ACRA fee is not included in their service pricing structure.
The companies who will charge a higher amount for their services doesn’t mean they are providing the best service. But there are some things to compare when it comes to pricing!
- The annual return filling fee should be included in the service.
- Any charges for updating the company information, officers, or shares separately?
- The cancellation fee is included or not.
- Any company secretary transfer fee?
- What is the cost of renewal?
- Is any statutory fee included?
These are the crucial things to check before hiring a company secretary!
- Select Qualified and Registered Company
When identifying the corporate secretarial firm, ensure they are registered, qualified, and experienced. Their consultants are highly professional in handling all the necessary things related to the process.
Some essential things when hiring a corporate secretarial firm:
- The agent must be registered with ACRA
- The candidate should be a member of the Chartered Secretaries Institutes of Singapore
- Individuals must be qualified from the institute of Singapore chartered accountants
- He must be a certified public accountant
- The member of the corporate counsel association of Singapore
- A company secretarial firm should have a minimum of 20 years of experience.
Considering these things as mentioned above will help them engage with the Best Corporate Secretarial Firm.
- Familiar with Company Secretary
It’s essential for companies to know corporate secretaries if he or she is competent enough to handle compliance in Singapore. Besides qualifications, there are some factors to count!
- Ensure they are clear about their responsibility and roles
- They have to understand the local rules and regulations
- Please make sure they are reliable to handle the needs and provide solutions on time
- Are they keep themselves updated about the latest amendments, rules, and regulations
Implementing these factors will ensure that the company will find a perfect secretary.
- Effective Corporate Solutions Available
The corporate secretarial service provider will take care of the corporate secretary matters. It will be beneficial for companies to focus on other essential tasks that will grow the business efficiently. Some everyday non-core business tasks include tax filings, financial accounting, company payroll, etc.
It will save the time and money of the company by having all these services in one place. No need to find the vendor separately; maintain all non-core business processes with one contact.
Besides these tips, don’t forget to ask these questions for better results.
Before Hiring a Corporate Secretarial Firm
Singapore is an economically stable country, with loads of business and job opportunities. Gigantic production and exporting of electronic goods, business, and finance sector, and tourism department raises the economic parameter high among the top ten countries in the world. Therefore, people around the world dream to settle in Singapore. A huge number of people and budding companies wish to introduce their business to the Singapore business market. The business owners want to have their business and company incorporation singapore, so that their business will be secured and have recognition from the Singapore government.
4 Best Questions to Ask When Hiring a Corporate Secretarial Firm
The company secretary plays an essential aspect in the business growth. So, it’s vital to ask some essential questions to find out whether a corporate secretarial firm is correct or not. Here, know significant questions to ask at the time of hiring a corporate secretarial firm!
Question 1
Does the company provide a well-educated staff?
In Singapore, it’s mandatory for company secretaries that they must be highly qualified. They also need to fulfill the criteria. So, always ensure that a firm has a well-educated database to provide a qualified secretary for the company.
Question 2
Are they able to understand the local rules and regulations?
It’s crucial to find reputed Corporate Secretarial Services that are well-aware of the local rules and regulations. They are also well-inform about modifications and extensions in rules and regulations.
Question 3
Does your firm provide a dedicated corporate secretary for the company?
A dedicated corporate secretary means an individual is familiar with the company’s history and operations. This will help them to maintain all the duties effectively.
Question 4
Are they able to offer a comprehensive suite of solutions?
Always look for a firm to get all the non-core functions in one place. As a result, it will save the time and resources of the company so they can focus on other core functions.
Conclusion
Finding the right Corporate Secretary Firm in Singapore is essential. With the right tips, companies are able to locate the best services. Acquire the most competent corporate secretary for a company with experienced corporate secretarial services. BT Consultancy is one of the leading companies offering the best Corporate Secretarial Services Singapore.
They are high skill and experience in this field. The BT Consultancy team offers practical solutions to help companies find suitable company secretaries. As a result, it will aid companies in growing effectively.
Get to know more about the services by contacting the BT Consultancy team!
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