Why you need corporate secretarial services in Singapore? Singapore has always been known to be home to thousands of different businesses. These corporations are from big industries such as mining, engineering, and healthcare. Despite Singapore being relatively small when it comes to land area, it is one of the most favorite countries of big and small business entities to start or expand in. That is because it offers one of the most comprehensive and pro-business laws and regulations. For example, it is considered to have one of the lowest tax return rates when it comes to businesses. That is why it was named as the most business-friendly country in the world. It also ranked third to the most corrupt-free country which made it more attractive and suitable and conducting a business.
These laws and regulations may be easy and convenient to conduct business transactions but they are strictly observed and followed. This is why Singapore is one of the top economies in the world. One of the things that you must follow when you want to conduct a business in Singapore is the need to hire corporate secretarial services Singapore staff. There are many roles that a corporate secretarial services Singapore employee fulfills in the operations of a company. That is why it is more advisable to hire one before you incorporate company in Singapore. To know more about their importance, let us talk about the reasons why you need a corporate secretarial services Singapore staff.
Law compliance
When you incorporate company in Singapore, there are still certain laws and policies that you have to follow after it. One of those policies is hiring a company secretary. This can be hired before, during, or after you incorporate company in Singapore. The Singaporean government gives at most 6 months after you incorporate company in Singapore to hire a competent company secretary.
Aside from this, the secretary also does a lot of jobs inside a company that is vital to the success of the business. For example, they are the ones tasked to know whether or not there are certain changes to certain laws and regulations that have legal jurisdiction over your company. A corporate secretarial services Singapore employee makes sure that your company always complies with these kinds of changes to avoid future problems and complications.
Keeps the company organized
When you hire a secretary from a corporate secretarial services Singapore firm that has a clean track record, you can ensure that you are hiring a secretary that is competent enough to keep your company organized. A business, big or small, deals with a lot of documents and paperwork. These documents are vital to the operations and legal matters of the business entity. When you incorporate company in Singapore that includes many legal documents that have to be stored for future purposes, it is a must to hire a company secretary.
Having a company secretary ensures that these important documents are safely stored and can easily be tracked. They are also the ones required to manage reports and statutory registries. The government requires every company to hold an annual general meeting that shall be done 18 months after you incorporate company in Singapore. After this meeting, the government is expecting every company to submit a progress report that contains what has transpired in the annual general meeting. Aside from scheduling this meet, the company secretary is also tasked to make sure that the general annual report gets submitted to the government.
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The corporate secretarial services Singapore employee is also required to keep the company seal as it is used in many important documents as proof of legitimacy. Another important document that the company secretary deals with is the statutory register which includes the details about the directors, board members, and shareholders of the company.
Track company progress
In addition to the first two points, a company secretary should be able to help the business entity track its progress. Since they are the ones who usually deal with the different departments of the company, they are the ones who have an overview of what is happening and how far the company is from its goals. This way, the business entity can plan better and apply more effective strategies and methods.
Summary
Running a business in Singapore is not as easy as it looks. There are many documents that you need to settle when you incorporate a company in Singapore and many more after that. Hiring a reliable service provider that can help you do all these things is advisable. WLP Group is one of the most trusted third-party firms when it comes to these kinds of services. Hire us today to ensure a successful company.