Advantages of Hiring Company Secretarial Services in Singapore

The company secretary plays a vital role in the incorporation, legal compliance, and administration of the company. Learn the advantages of hiring company secretarial services in Singapore in brief.

Right from incorporation, administration to good governance, a company secretary plays a significant role in the progress and growth of a company. He or she is responsible for organizing board meetings, file returns, maintain statutory registers, and ensure the company is complying with the government rules and regulations.

According to the Singapore Companies Act, it is a legal requirement to appoint a qualified company secretary within six months of company incorporation. There are two options to achieve this:

• Appoint an in-house company secretary
• Hire company secretarial services provider

In this article, we will cover the advantages of hiring company secretarial services provider and why it is better than appointing an in-house company secretary. Scroll down further to know more.

1. Company Secretarial Services are cost-effective and budget-friendly.

Hiring company secretarial service helps in reducing the operation costs of your venture. The reason being appointing a company secretary is cost-extensive as you have to conduct recruitment and training programs, provide company benefits and essential office resources. On the other hand, secretarial services provider offers better results at a fraction of the cost of an in-house company secretary.

2. Meets company compliance requirements efficiently.

Firms providing secretarial services consist of accounting, incorporating, and auditing professionals. They are experienced, qualified, and ensure your company acts in compliance with rules and regulations of ACRA, a national regulatory body that looks after business entities and corporate service providers in Singapore. Having a team of professionals backing your company reduces the chances of missing filing returns deadlines. This helps your venture stay compliant, operate safely, and avoid non-compliance penalties.

3. Improves the efficiency of business operations.

Companies providing corporate secretarial services have vast experience in managing and executing day to day business operations and activities. They understand the corporate and business environment of Singapore well and know how to handle the administrative and secretarial requirements of your business. This, in turn, makes your business operation fast and efficient. On the other side, this efficiency is not possible when an in-house company secretary is managing all other responsibilities and also not familiar with the secretarial work which he or she does not handle on day-to-day basis.

4. Provides comprehensive services.

The services provided by company secretary companies are comprehensive, meaning they are not limited to incorporation, legal compliance or management, and offers other services like accounting, business advisory, and bookkeeping. Subscribing to them saves company resources, time, and makes the business operation efficient and scalable. A company secretary is legally limited to provide services suitable to his/her roles and responsibilities.

Company Secretary Services by CoSeClinic

Make sure to choose the right firm before hiring company secretarial services. Ensure it is trustworthy, reliable, accountable, maintains confidentiality, and provides efficient services. We at CoSeClinic have a vast and proven experience in providing company secretary services and assisting our customers in incorporation, accounting, and other essential corporate services. To know more about our services, feel free to contact us at enquiry@coseclinic.com or call on +65 62701163.