What are responsibilities of Corporate Secretary in Singapore

Starting a business in Singapore has a fair few requirements. One of these is the compulsion of having a corporate secretary. The question is, what are the responsibilities of a corporate secretary and why is it so important?

Who should be your corporate secretary?

The first thing you should know is that a corporate secretary must be a Singaporean citizen. It doesn’t matter if you choose a company director or shareholder. Unless he or she is a Singaporean citizen, the person won’t be considered a corporate secretary. You can also choose a company like osmose.com as your corporate secretary. Their service includes the fulfillment of all the roles of a corporate secretary. With over 10 years of experience, they really know how to do the job! You can choose between different packages according to your personal requirements.

According to the Singaporean Companies Act 2014, a company secretary is a compulsion for all businesses. This person shouldn’t be the sole director of the business, must be a resident of Singapore, and must fulfill all the requirements of a corporate secretary. When choosing a secretary for your business, make sure you opt for someone who has good decision-making skills and can work under pressure.

Role of a corporate secretary

A corporate secretary plays a vital role in the business. This person is responsible for maintaining all records of the business. Any meetings between the shareholders are arranged by this person. Any legal requirements are fulfilled by the corporate secretary. This person is responsible for submitting the required documents to relevant authorities. They offer administrative and legal support while ensuring that the corporate strategies are being implemented successfully. The company secretary is also responsible for smooth communication within the business shareholders.

Maintaining statuary records and showing them to shareholders is also this person responsibilities. If for some reason the records must be kept private, this person takes care of that too. The company insurance is handled by the secretary as well. Moreover, this person is responsible for keeping the company seal safe and ensuring its proper use.

Accounts of the business are also maintained by the secretary. Other than that, this person makes sure that the constitution of the company is being followed by everyone. Keeping an eye out to ensure that the law of Singapore is being observed within the business is once again on the shoulders of the corporate secretary. This person also has to maintain transparency and accountability in the business.

The strict law that makes a corporate secretary a must for every business is itself an indication of the importance of this person. The responsibilities that are on this person must be fulfilled. A good corporate secretary can actually help boost a business whereas the appointment of an incapable secretary could bring the business a lot of trouble.

Choosing a corporate secretary is a decisive decision for your business. Do not take any risks here. Contact osome.com to hire trustworthy corporate secretary services!

The author is a professional company secretary with more than 10 years of experience.