4 Things to Keep in Mind Before Hiring Corporate Secretarial Services in Singapore
September 28, 2022
September 28, 2022
Are you planning to hire a company secretary or get company secretarial services? Whether the former or latter, there are some things to consider in preparing your business for the breakthrough it longs to have.
If you don’t know yet, many competitive businesses flocked to Singapore because of its friendliness in terms of starting a company, making the country one of the most saturated markets in the world. That is why everything requires careful consideration, including every business-related action taken. So, stick around and find out what to do before hiring company secretarial services and witness your enterprise succeed in every endeavour it takes.
What Should You Consider Before Hiring Company Secretarial Services?
Having a company secretary has many advantages, especially when it comes to complying with statutory requirements in Singapore. But before any business benefits from all this, it has to undergo a thorough process of choosing the best method of obtaining a corporate secretary or availing of secretarial services. Below are the things to consider before engaging in anything secretarial-related. Let’s get started!
Take Time to Understand the Roles of Corporate Secretarial Services
A company secretary carries out different tasks, including administrative, advisory, and fiduciary. Learning this yourself will help you understand the importance of having an in-house secretary or outsourcing corporate secretarial services from another firm. Find out more about the breadth of the role here:
The main role of a corporate secretary in Singapore is to be ACRA’s primary point of contact. They ensure that the company complies with the statutory requirements mandated by the appropriate offices. A secretary, too, prepares the company’s AGMs and EGMs minutes, keeps the company registers updated, and files important documents with relevant organisations in Singapore.
A company secretary can be considered an advisor to directors by providing practical advice necessary, including relevant information about legal and compliance practices. Company executives will be informed of this information through reporting and document compilation handled by the secretary.
Besides communicating with ACRA and keeping executives up to date, a corporate secretary also keeps in touch with the shareholders to protect their business interests. With the timely financial statements prepared by the secretary, the stakeholders would see the bigger picture and understand the business projections comprehensively.
Acknowledge That Some Jobs Are Best Handled by a Professional
Not everyone can be a corporate secretary in Singapore because some guidelines have to be followed. For example, a person based overseas or the sole director of a company is not qualified to take on a secretarial job. Even if the company has more than one director, handing secretarial jobs to an executive officer is impractical.
Let’s say you know how to perform basic secretarial tasks. But in the long term, you will find it challenging to juggle more than one duty. This idea is only a waste of time and resources. Acknowledge that some jobs are best left to an expert’s care. When you hire a company secretary or outsource secretarial services, focusing on key business elements is easier. And you can grow your business more than ever.
Always Check Their Experience in Handling Secretarial Tasks
As a business, it is your obligation to find out the previous works and experiences of a company secretary or provider of secretarial services. Ask some questions if necessary, and dig deeper into customer feedback and reviews. This ensures that your secretary wouldn’t have difficulty handling a secretarial role in your company. Otherwise, you will be left doing all the work if things don’t go as expected.
For growing businesses, reliable secretarial services allow the owner to pay more attention to generating income rather than spending more time administering the company’s processes. Professional support is what a company needs to do better in every endeavour it takes.
Partner with Someone Who Moves at Your Phase
Although technologies make business operations more convenient, some are still stuck in the old ways of executing processes in their company. This will only lead to longer turnarounds and eventually result in delays. Always check if a secretary or service provider on your radar moves at your pace. The coordination of both parties makes no room for errors and repetitive work. In addition, utilise innovative ways to hasten business flow by digitising everything from signatures to processes.
Partner with ContactOne for Reliable Corporate Secretarial Services
Apart from what we mentioned in the list above, one more thing to consider when getting secretarial services is the cost. With ContactOne, you will no longer worry about hidden fees because what you avail is what you will pay for. Our founders don’t believe in sophisticated billing concepts. Previous clients have never been charged any of the following: Printing and Stationery Fees, Extra Annual Return Filing Fees, and Document Storage Fees.