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December 2, 2021

4 Things to Consider When Hiring Secretarial Services in Singapore

Everyone would agree that hiring the right talents paves the way to a profitable business. Among the employees that should be on board, your company is a competent and qualified secretary. Whether you manage a startup, run an existing corporation, or plan to penetrate the bustling Singaporean business hub, a corporate secretary plays a crucial role in a successful business venture.

However, considering that you are in a competent and saturated corporate landscape, be reminded that your business can encounter several challenges that might distract success. In this circumstance, exploring all available avenues that could be helpful to push your business to be better is critical. One of the options you have is to consider hiring company secretarial services in Singapore.

There are many providers of company secretarial services in Singapore. For that reason, hunting for one may be a tricky task. Even though top firms highlight the need for qualified individuals with the ideal skills, experience, and commitment, it is essential to look deeper into your needs and demands as a corporation. If you search for secretarial services, here is a list of things you need to consider:

1. Assess Knowledge of Rules and Regulations

One of a secretary’s many duties has something to do with providing legal assistance to a company. That is why it only makes sense to hire a service provider knowledgeable of Singapore’s laws and regulations. Other duties include maintaining an office set up, arranging annual general meetings, filing taxes, and maintaining company records.

2. Ensure Proper Qualifications

As businesses grow and develop corporate governance, the role of a corporate secretary also evolves. Outsourcing a service provider, as a result, is beneficial. It allows you to focus on core functions and strategic opportunities. So, make sure your corporate secretarial service provider meets proper qualifications.

Basically, these requirements are part of the standard procedure for hiring new employees or engaging with a service provider. The list below is just a suggestion and can be adjusted based on your business specifications. Make sure to consider them if you are switching service providers. (All these requirements are based on the Accounting and Corporate Regulatory Authority or ACRA).

  • Must be a resident of the country where your business is headquartered.
  • Must have several years of secretarial experience before the appointment; or
  • Must be a qualified individual as mandated by the law, or
  • Must be a public accountant registered under the law, or
  • Must be a member of Singapore’s Institute of Certified Accountants, Institute of Chartered Secretaries and Administrators Association of Singapore, the International Accountants Association Singapore, and the Singapore Institute of Company Accountants.
3. Verify Comprehensive Portfolio of Services

When hiring company secretarial services in Singapore, the third thing to consider is the provider’s ability to present a comprehensive portfolio of services. As a customer, you should know what you are paying for and understand what you are getting into. Apart from ensuring knowledge of laws and regulations and proper qualifications, it pays if your provider has everything you need.

There are many service providers of secretarial services in Singapore. If you want the best partner that can offer services designed to assist you with seamless business operation, turn to ContactOne Professional Services.

We are one of Singapore’s premier service providers of corporate secretarial services. We specialize in business formation, compliance management, accounting and taxation, payroll management, and other corporate administrative services for startups and small-to-medium enterprises.

4. Get the Value for Your Time and Money

We want to get the value for our money every time we spend on something. The same goes for hiring secretarial services. Funding a starting business is one thing. But in the long run, it becomes costly. Hiring a secretarial service provider will help you cut costs somewhere in your existing operations.

To be more cost-effective, engage in firms that can provide you with more than the standard secretarial services. Service providers in Singapore, like ContactOne, offer various services to help run your business better and unleash its full potential. Our services are tailored to our client’s unique demands and needs.

Company Registration in Singapore

Why does it pay to engage in company secretarial services in Singapore?

Although investing in a permanent secretary for your business is often much costlier, the solution is more straightforward once incorporated. Still, there are various benefits when you outsource company secretarial services, especially in a competitive yet regulated market like Singapore.

With a company secretary, you will gain a trusted, accurate, and consistent management of administrative requirements. Most service providers deploy highly competent individuals with skills and efficiency.

You will be able to meet administrative needs with ease and convenience if you hire the right service provider of secretarial services. They will ensure that your business complies with Singapore’s stringent regulations and requirements.

The right firm will provide the secretarial services on time. One of the main reasons to outsource this type of service is that you can entirely rely on them to give the ideal secretarial service for your business.

You can cost-effectively access high-quality corporate secretarial services if you engage in a corporate secretarial service provider in Singapore. Not hiring an in-house corporate secretary will save you time and cost because you are not required to undergo the hiring process, training, and whatnot. Keeping these resources will confer your business a competitive advantage.


Wrapping Up

Keep in mind the four things to consider before hiring a company secretarial service provider in Singapore to guarantee the best results. If you hit everything on our list, you will end up with a dependable secretary, a partner in ensuring success for your business.

For more details about ContactOne’s services, call +65 8666 3633 for company registration and secretarial inquiries, +65 8877 2223 for AGM and annual return filing, or +65 8813 3833 for accounting and tax inquiries.

December 2, 2021

4 Times Secretarial Services Are Important to a Company!

A company consists of many stakeholders, and each of them has different roles to play. Among these stakeholders is a company secretary who seems to have many duties and responsibilities, such as checking the company’s compliance with statutory and legal bodies. Their responsibilities go beyond filing and corresponding, which is why every board member values this position more than ever—putting company secretarial services into a new light in the corporate world.

Given the importance of this position, the Accounting and Corporate Regulatory Authority (ACRA) mandates every business to hire secretarial services in Singapore within six months of its establishment. This is why companies must find reputable company secretarial services providers.

As the role of a secretary in Singapore continues to evolve because of the developing corporate governance, it is now the best time to carry on hunting for the most suitable secretarial services for your company. We created the list below to put out when these services are essential to every business’s operation. Let us have a look.


1. Maintaining compliance

A secretary should maintain corporate compliance to ensure that all business operations run smoothly without the distraction of missing compliance deadlines. Company secretarial services must include:

  • Keeping minutes of registers books;
  • Submitting annual returns to ACRA; and
  • Monitoring compliance with relevant laws.

If these tasks are not carried out precisely before deadlines, the company will face liabilities through regulatory bodies. When it comes to looking for a service provider of secretarial services, consider all this.

Secretaries also facilitate communication within the company and across management levels by reporting to appropriate parties and delivering essential memos.


2. Provide wise counsel

In hiring secretarial services in Singapore, consider the legal compliance of businesses, which covers the company act, income tax act, and internal company governance. Many regulations related to compliance and management surround a company. That is why a competent secretary is required to be well-versed and educated in these areas.

If you would like to make corporate changes to your company structure, it is beneficial that your secretary is competent in such processes. You can quickly execute the corporate changes with relative ease, with the peace of mind that all legal requirements are in place.

All these are necessary for executives to make crucial decisions as it provides them with critical information. It leads to formulating strategies while abiding by the laws and regulations.


3. Act in the best interest of the company

One of the essential duties of a secretary is to act in the company’s best interests. It must be done in good faith while avoiding potential conflicts that may arise within the organization.

Companies must highly regard hiring a meticulous, trustworthy, and dedicated employee who will not jeopardize operations. If a secretary embodies these qualities, they can manage your business effectively and take it to greater heights.

For companies, hiring secretarial services in Singapore is more than just employee recruitment. That’s because companies highly rely on a secretary’s job. A secretary who can perform the roles to the best of their abilities will result in success. When a company secretarial service is in place, it can focus on its daily operations and improve its efficacy.


4. Performs board director training and development

Even though the board of directors brings an edge to the company with a certain degree of expertise, they still need training and development to be knowledgeable about the latest trends on corporate governance, finance, and cybersecurity, among other things. So, secretaries must lead board evaluations, conduct governance audits, and help resolve planning issues. They should also assist directors by educating, training, and orienting them.

Aside from that, since a corporate secretary sets the board meeting agenda, they must collaborate with the executive team. This way, secretaries can identify and prioritize what topics to be discussed by the board and committees. This role extends to facilitating executives, making annual reports, sending financial press releases, and reviewing implemented policies.

Company Secretarial Services

What are the qualities to look for in a company secretarial service provider?

Many secretarial service providers are in Singapore. And choosing one could be a challenging task. Although top providers showcase potential secretary material and employ individuals with the right combination of skills, experience, and commitment, not all of them are suitable for your company’s needs and demands. Here are a couple of things to be mindful of when exploring your options to help you hire the best secretary for your corporation:

Make sure they are highly-trained professionals

Choose a company secretarial services provider that guarantees highly-trained professionals. It would be best to consider these individuals and their area of expertise, industry experience, and knowledge of compliance procedures. This way, you can ensure that your secretary plays its role in contributing to company success.

It should pay for the value of your time and money

Money is a contentious matter. Because of that, you have to make sure that you get what you pay for. Pick a provider of secretarial services in Singapore that ensures hiring a third-party firm. This is more cost-effective than hiring an in-house secretary.

Being reminded of ACRA’s specifications, corporate secretaries have more critical functions in the overall business operations than you can think of.


Are you looking for company secretarial services in Singapore?

Contact one Professional Services is your best partner in company secretarial services. We are one of Singapore’s premier firms that provide companies with corporate secretarial services. Our secretarial services have been designed to assist you with beating deadlines, especially the submission of annual returns to ACRA.

Aside from that, we also offer business formation, compliance management, accounting and taxation, payroll management, and other corporate administrative services for startups and small-to-medium enterprises.

You can visit us at 1 Coleman Street, #10-06 The Adelphi, Singapore 179803. We are open from 10 AM to 7 PM, Monday to Friday. Or give us a call on +65 8666 3633 (company registration and secretarial inquiries), +65 8877 2223 (AGM and annual return filing), or +65 8813 3833 (accounting and tax inquiries).