It is impossible to emphasize the value of a corporate secretary in running your firm smoothly.To ensure that your firm is operating within the bounds of the law, a company secretary is an essential part of every company’s corporate governance structure.Can a corporation in Singapore operate without having a secretary on staff?
Yes.
According to the Singapore Companies Ordinance, unless a company secretary is appointed, a Singapore corporation cannot be formed.
The Singapore Stock Exchange will not accept a firm for listing unless a qualified company secretary services are hired (SGX).
When and how does a company secretary become nominated to their position?
When it comes to keeping track of the firm’s statutory papers, the company secretary is in charge of making sure that all relevant compliance processes are followed. Additionally, the company’s board of directors’ nominations and resignations, as well as the issuance and transfer of shares, fall within the purview of this department.
Singaporean law prohibits a company’s director or shareholder from acting as a company secretary
A competent company secretary who is registered with the Singapore Institute of Chartered Secretaries and fulfills all of the other criteria of the Companies Ordinance must be nominated by you.
To suggest that the function of a company secretary is essential to a company’s management and administration is an understatement.
What are the advantages of digital corporate secretaries over their analogue counterparts?
A typical brick-and-mortar office is where most business secretaries spend the most of their time working.
There is no way to get in touch with them other than through phone or email
Obtaining even a fundamental document, such as a copy of your certificate of incorporation, will need either a wait for delivery or arranging for a pick-up by a third party.
Investors from all over the world are increasingly choosing Singapore as their preferred business hub, making it more important than ever to stay on top of your compliance requirements.Because of this, a digital company secretarial service is more advantageous to your organization.
You should use a virtual business secretary for these reasons:
A quick and easy way to get entry
According to the industry, a cloud-based platform is used by the great majority of digital company secretarial service providers.
This means you won’t have to spend time sending out unnecessary emails when you need to find a document fast.
Because of this, it is less likely that important requests will be overlooked. Because of the streamlined processes, you won’t be snarled in a never-ending web of emails or phone calls by your company secretary.
The system’s efficiency has been boosted
Instead of digging through piles of papers to discover a single piece of paper, the digital business secretary can quickly and easily find what they’re looking for.
A single click can access anything from bank statements to incorporation documentation to even business resolutions, whenever you need them, thanks to the fact that all data have been digitalized.
Company secretaries may resolve any specific concerns you have with respect to your company’s statutory compliance with the necessary regulatory authorities while also speeding up the process.
