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Company Secretary in Singapore

Company Secretary in Singapore

Setting up a company in Singapore implies respecting various regulations, among which appointing a few key members in the management. An important requirement is for companies to have secretaries.

The company secretary in Singapore must be appointed in accordance with the Company Law and the person holding the position must comply with specific conditions.

Below, our accountants in Singapore explain the role of the corporate secretary and the services we can provide for you in this sense.

Corporate secretary in Singapore – appointment requirements

Under the Company Act, all corporate forms must appoint secretaries. This requirement does not apply to partnerships and sole proprietorships, which is why when it comes to these legal forms, the creation and taxation conditions are much simpler.

Here are the main aspects to consider about the company secretary in Singapore:

  • the secretary must be appointed within 6 months from the registration of the company;
  • Section 171 in the Company Law provides for the qualifications of company secretaries;
  • when replaced, a business cannot remain without a secretary for more than 6 months;
  • 3 years of experience is required for secretaries of companies listed on the Stock Exchange.

The legislation is permissive and company secretary services in Singapore can be accessed by those who do not find a suitable person to appoint one.

Our accounting firm in Singapore is at the service of local companies with various services.

Conditions to become a company secretary in Singapore

No matter if discussing secretarial services in Singapore or the appointment of a person to occupy this position, here are the main requirements to comply with:

  1. the person appointed must be a Singapore citizen or at least a resident of the city-state;
  2. the secretary cannot hold this office and that of a director in the company;
  3. for public companies, the requirements are more stringent in terms of qualifications and experience;
  4. the chosen secretary must also be members of various associations or recognized institutions.

Considering the citizenship or residency requirement, first-time foreign investors who open companies in the city-state have difficulties in finding secretaries, which is why they can use dedicated corporate secretarial services in Singapore.

Such services can be offered by lawyers or accountants in Singapore.

Association membership requirements

Given the fact that a corporate secretary in Singapore has important duties and obligations, it is important for the person holding this position to be qualified and membership in various associations and/or institutions that attest to their experience and expertise is definitory.

In the case of accountants, these can be members of the Singapore Institute of Certified Public Accountants, the local branch of the Association of International Accountants, the Association of the Institute of Chartered Secretaries and Administrators, or the Institute of Company Accountants in the city-state.

Our local accountants are members of these associations which is why you can rely on us for company secretary services in Singapore.

Duties of a company secretary

A Singapore company secretary has various duties and obligations which must be respected in order for the enterprise it represents to face various penalties. As a point of contact with the Companies Register, the secretary will:

  • file the enterprise’s annual accounts;
  • ensure all company records are up-to-date;
  • ensure the company’s statutory document requirements are respected.

Apart from these, the secretary must set the date, organize, and attend the shareholders’ Annual General Meeting.

For all these, you can rely on our accounting firm for corporate secretarial services in Singapore.

We can also provide other services, among which audits for all types of companies in Singapore. We also invite you to watch our video below:

Services offered by an external corporate secretary in Singapore

Appointing a company secretary in Singapore implies finding a person who meets all the requirements above. However, for many business owners using specialized services offered by accountants or lawyers are the easiest way to comply with all the requirements imposed by the Company Law.

Our Singapore accountants can provide tailored support to companies from this point of view, as our specialists are members of the above-mentioned institutions and have the experience required to hold this office.

We can handle all the formalities that need to be met with ACRA in order for your enterprise to avoid penalties.

If you are searching for a company secretary in Singapore, do not hesitate to contact our accountants.