8 Biggest Business Trends For 2021

 All industries have been affected by the COVID-19 crisis, with varying degrees of severity. Community quarantine and lockdown have resulted in the temporary closure of many hospitality businesses. 

Other companies adjusted their operating procedures to ensure survival. These adjustments reflect what companies should do this year to improve their service in the midst of the COVID-19 pandemic.

Read the full article: https://bit.ly/36k7SFE

Hire a company secretarial services in Singapore to assist you in understanding the current trends and technologies relevant to your business.

6 Signs Of Good Corporate Governance

Good corporate governance is the effective management of a company - ensuring long-term corporate success and economic growth.

Every company in Singapore must comply with the country's business regulations. Engage with a reliable company secretarial services provider in Singapore to ensure compliance with legal responsibilities.

Read the full article: https://www.corporateservicessingapore.com/6-signs-your-company-has-good-corporate-governance/

The Increasing Demand for Corporate Seretarial Services in Singapore

Singapore is a business friendly country. With its robust economy, a rational tax system, and strategic geographical location,many investors and business owners want to incorporate their businesses in the country. So if you are looking for a company incorporation services in Singapore, Reliance Consulting offers top-notch support services. Our video will guide you how to hire a corporate secretary for your business.

 Source: https://www.corporateservicessingapore.com/increasing-demand-corporate-secretarial-services-singapore/


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Why It Is A Must To Hire Competent Corporate Secretarial Services In Singapore

A dynamic business hub like Singapore is the perfect launch pad for any startup or offshore firm looking to establish themselves in the global business community. New entrants, however, can expect some tough competition from like-minded individuals who all want to take advantage of the pro-business environment that the Lion City offers. Added to that are the strict rules and regulations that should be followed with due diligence to ensure a legitimate business operation. In scenarios like this, it is best for any new company to enlist the help of a reputable company secretarial service to make sure that it performs to the best of its abilities with efficiency.

What Is A Company Secretary?

The company secretary position is one of the key roles a new company should fulfill upon registration. Under the Singapore Companies Act, a company secretary should be appointed within six months of incorporation.

The appointment of a company secretary is required by law to ensure that the company complies with all its regulatory requirements as mandated by law. The person appointed to this post will be responsible for all the administrative and reporting obligations that a company should meet in accordance to the rules and regulations of the Accounting and Corporate Regulatory Authority (ACRA).

Not anyone can be a company secretary, though. Under the law, the person appointed to this post must be a Singapore resident and holds at least three years of relevant secretarial experience. Moreover, the appointed company secretary should not be holding the position of sole director or shareholder of the company.

While this is a vital position, there are instances where the law doesn’t require a company secretary to be appointed. If the structure of your business is a sole proprietorship or a limited liability partnership entity, you don’t need to assign a company secretary.   

Why Do You Need One?

The law cannot stress enough the crucial role that a company secretary plays. Apart from helping in the completion of your incorporation, the company secretary is the point person for all regulatory-related obligations and the individual responsible for ensuring that your company timely files all the essential business documents.

On top of these responsibilities, the company secretary is required to perform business and operational activities within the organisation as well as execute legal and financial reporting in accordance to the rules and regulations as mandated by the Constitution, ACRA, and the Singapore Companies Act.

More importantly, the company secretary has been given the authority to validate company resolutions and execute official documents.   

All these tasks require accuracy and efficiency, which is why companies should consider engaging a corporate secretarial services firm in Singapore to ensure that secretarial obligations are met with ease, precision, and convenience. Corporate secretarial companies in Singapore possess the expertise and experience necessary to handle all these obligations and responsibilities in compliance to the laws of the land while helping companies streamline their business operations.

Not All Corporate Secretarial Services Are Created Equal

It is, however, imperative that a company carefully examines the secretary service it wants to hire. Here are some factors you should consider when hiring a company secretarial service: 

• Choose a corporate secretarial services company in Singapore that is dedicated to the betterment of your company. It should be competent and efficient enough to reliably comply with all the regulatory requirements as mandated by law, so your company avoids any potential offences and the penalties that come with non-compliance.   
• Hire a company secretary services firm in Singapore who continues to update and train its staff on the new legislative requirements. As you focus on running your business, you need reliable people to handle your legal compliance needs timely and efficiently.
• Make sure that the corporate secretarial services company you engage can provide everything that you need. This means it should cover all the basic secretarial functions you require. Certain companies like Corporate Services Singapore offer a comprehensive portfolio of corporate secretary services to cater to all the legal and administrative obligations of a company, making it a one-stop shop for corporate secretarial needs.     
• Get a corporate secretary services firm in Singapore that can serve you well in the long run. A highly efficient firm that offers more than just secretarial services can be of immense help to you when you need to concentrate further in growing your business. Hire one that also provides other corporate services like accounting and payroll, which ensures that these duties are not only performed with efficiency but also offers you more time to allocate your energy on more important business matters.
• Ensure that your money gets what it’s worth. Find a company secretary services firm in Singapore that offers company secretarial services packages specifically designed to suit your needs. Remember that each company has unique requirements, and it will serve you well to have a local firm that provides personalised service.    

A competent corporate secretary services company in Singapore is the ideal partner in helping you manage your business more effectively. Consider outsourcing your company secretary requirements now, and you will be surprised by the advantages you can reap just by having local experts to back your company up.

Do These 4 Things Before Hiring Corporate Secretarial Services

It takes more than just guts or the perfect business plan to successfully do business in Singapore. Know that in such a bustling business hub, you can expect a number of challenges to sidetrack your success. It is thus important that you explore all available avenues that could be instrumental in helping you manage your business better. One of the routes you can take is to consider partnering with a corporate secretary services firm in Singapore. 

Navigating the complicated business environment of Singapore can be a daunting task if you don’t have the expertise of a local firm to guide you. From strict regulatory requirements to the challenges you could face when hiring new people, it can be tough to keep pace with all that’s needed to be met and completed. A company secretarial service firm provides you with an extra hand to help you handle your administrative activities with ease and efficiency.

A corporate secretarial company in Singapore has the expertise and experience to handle your administrative function that is otherwise can be challenging if you’re relying solely on an in-house secretary. If you’re a start-up keen on immediately creating stability for your company, a local business looking to streamline your operations, or an offshore firm eyeing to position your business strategically in Singapore, a corporate secretarial services company can help achieve your desired outcome with its knowledge in expertly handling administrative requirements.

Just like a hand to a glove, your company and the corporate secretary services firm you will choose should be a perfect fit. Not all professional service providers are created equal, that’s why you should take note of these four factors when selecting a local firm that suits your business requirements.  

  

1. Ensure that the local firm boasts of staff with proper qualifications

This is basically a standard procedure whether you’re hiring new employees or engaging a professional service provider. When scouting for a corporate secretarial services firm in Singapore, it is a must that the individual who will be appointed to you is:

• a resident of the country (must be a citizen, a permanent resident, or an EntrePass holder) has secretarial experience of at least three of the five years prior to appointment
• a qualified individual as per the Legal Profession Act
• a public accountant registered under the Accountants Act
• and a member of Singapore’s Institute of Certified Public Accountants, Institute of Chartered Secretaries and Administrators Association of Singapore, the International AccountantsAssociation Singapore, and the Singapore Institute of Company Accountants

All these requirements are mandated by the Accounting and Corporate Regulatory Authority (ACRA).  

2. Check if the corporate secretary services firm knows the rules and regulations

This is one factor that can never be compromised. When hiring a corporate secretary services company in Singapore, make sure that it strictly observes all the rules and regulations promulgated by ACRA, particularly those that have been extended or modified. The local firm you will hire should know everything – from filing requirements and schedules to meeting other compliance requirements.

3. Verify that your professional service provider offers a comprehensive portfolio of secretarial services 

On top of ensuring that all regulatory requirements are met, the company secretary services firm in Singapore that you will partner with should also be extremely knowledgeable in all administrative activities such as corporate governance, incorporation, dissolution, restructuring, and liquidation, amongst others, and must be able to handle these with efficiency.  

It pays to have a local firm that can provide everything that you will ever need. There are corporate secretarial services companies in Singapore like Corporate Services Singapore that acts as a one-stop shop for all your corporate secretarial requirements – from formation of local and offshore entities to maintenance of statutory records, minutes, and registers.

4. Make sure that you get more value for your money

Hiring a company secretary services firm in Singapore becomes more cost-effective when the local firm you engage in can provide you with more than just the basic secretarial services. There are firms that offer company secretarial services package that involves additional services to help run your business more efficiently. Professional services providers like Corporate Services Singapore, for example, offer personalised services to provide tailored solutions unique to your business needs.   

Keep in mind these four factors when considering to outsource your administrative function to a corporate secretary services company in Singapore. At the end of the day, you need a corporate secretary that you can rely on to be your dependable partner in ensuring your business success. 

Corporate Secretary Role in Company Registration: Before, During, And After

 

Involving a corporate secretary is crucial before registering a business

Before:
 
1. Choosing a Good Company Name.
2. Deciding on a Company Structure.
3. Gathering Details Needed to Register a Company.
4. Preparing and Keeping Company’s Documentation and Records.

During:
 
5. File your Company Registration.

After:
 
6. Organise the Company’s First Board Meeting
7. Maintain the Company’s registers, Books, and Minutes and File these with the Relevant Government Agencies for Compliance.


Read Full Details Here: 7 Ways A Corporate Secretary Can Help Before, During, And After Company Registration