Company Secretary Service
Block Ledger has been offering cost-competitive corporate secretarial services in Singapore, widely recognized for their timeliness and excellence.
Under Chapter 50 of the Singapore Companies Act, every new company must appoint a company secretary within six months of formation. This key administrative officer ensures smooth legal and board procedures and compliance with rules and regulations.
Many companies outsource their Company Secretary to a professional corporate service providers in Singapore, finding it an efficient way to guarantee their compliance.
Roles and Responsibilities of a Company Secretary
In Singapore, company secretarial tasks are performed by qualified individuals who are either Singapore Permanent Residents or Citizens, adept at navigating compliance and regulatory requirements. The duties include:
- Maintaining and updating statutory records and registers, including various registers like Secretaries, Auditors, Directors, Members, and Charges
- Filing Board Resolutions, AGM and EGM minutes, and ensuring compliance with ACRA's deadlines for updates on directorships, office addresses, share capital, and more
- Organizing AGM, EGM, and Directors' Board Meetings, including the preparation and distribution of meeting notices and minute-taking
- Sending timely reminders for AGM and AR submissions
- Facilitating statutory audits by providing full access to auditors for legal records and resolutions
- Managing the Company's common seal, ensuring its correct usage according to the Memorandum and Articles of Association
- Addressing ad-hoc matters and offering comprehensive advice on the Singapore Companies Act, Chapter 50, including corporate restructuring and compliance filings
Legal Requirements for a Company Secretary in Singapore:
Singapore mandates the appointment of a Company Secretary within six months of incorporation. Secretaries should either be the Institute of Certified Public Accountants of Singapore (ICPAS) members, equipped with the necessary knowledge and expertise to fulfill their roles effectively. Directors are responsible for ensuring the suitability of their company secretary, who must be a Singapore resident and cannot serve concurrently as the sole director
Choosing a Financial Year End
Companies must decide on their financial year end (FYE) upon incorporation, crucial for managing filings and tax obligations. Typically, businesses opt for one of these dates to signify their fiscal year's closure: March 31, June 30, September 30, or December 31. The decision hinges on whether you prefer your accounting cycle to span 12 months or align with a 52-week framework. It falls upon the company to inform ACRA should there be any alterations to the determined FYE.
The Value of Company Secretarial Services:
A company secretary plays a pivotal role in maintaining the legal and regulatory framework of a company, safeguarding it against potential legal issues and penalties. Professional secretarial services provide not just compliance assurance but also strategic advice and support, essential for navigating the complexities of corporate governance in Singapore.
To explore our Corporate Secretarial Services and how we can support your business in Singapore, please contact us for personalized assistance.