Corporate Secretary in Singapore - By: riti

Behind every successful company there is a dedicated Corporate Secretary. A Corporate Secretary is termed as the 'spokesperson' of the company because he is the one who communicates with the public.

Versatility is a great aspect they possess. They perform various tasks in Finance, Accounts, Legal Administration and Personnel areas on top of their own secretarial duties and responsibilities. According to Section 139 of the Companies Act, 1965, every limited company must have a minimum of one Company Secretary.

Singapore is increasingly becoming a profitable market for foreign businesses. Setting up a Singapore company is moderately simple; without too many hassles, due to the investor-friendly legislation of Singapore government. However the companies must adhere to some rules to set up. They should have lucid proof of identity of the company, its directors and other shareholders; incontestable proof of the registered address of the company and the residential addresses of the directors. Having a Corporate Secretary is another rule they must follow.

Singapore Corporate Secretary must be a resident of Singapore and should have certain credentials for the said position. He/she should be appointed within six months of incorporation of the company. A company secretary is a great help in registering and finding a location for one’s business.

Corporate Secretarial Singapore has many duties and obligations. Some of the statutory duties as required by the Companies Act are as follows:-
• Has to be there at all company meetings and recording minutes of it. However operational meetings do not require a company secretary's presence.
• Keep and preserve all the statutory books and records of the company, like minutes book, register book, share register etc.
• Ensure correct filing of all essential returns with SSM such as annual return, forms etc.
• Issue notices of meetings to shareholders.
• Ensure secure protection of company seal.

There are a few liabilities of the Singapore Corporate Secretary as well. He/she has fiduciary duties to perform for the company and has to act sincerely and in good faith. He/she can be reprimanded with a fine if found committing wrongful acts. Wrongful act is as plain as inability to lodge the annual return to SSM.

About the Author

Lcc global a leading business solution provider offering Company registration in Singapore, we offer full assistance in Provision of Company Secretary also providing services for Corporate Secretarial Singapore, High quality professional assistance and Secretarial Services in Singapore.

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