Knowing Everything About Business

Choosing a good company secretarial for your Singapore Company

Company Secretary

This article is brought to you by the guys at Director Plus. Be sure to check them out for affordable secretarial services in Singapore.

The law recognizes registered companies as independent entities. According to the Singapore’s Companies Act, it is a basic requirement for every company to appoint a secretary who is required to be a resident of Singapore. The act, however, does not define the extent of company secretarial companies that may be offered to any company in Singapore. The basic responsibility of a company secretary remains to assist the company’s directors in ensuring the company complies with all regulatory obligations. The Act identifies the secretaries as a key resource to the directors in compliance and in such way may be held responsible in any event of failure.

Legal requirements in appointing a company secretarial

According to the Accounting and Corporate Regulatory Authority (ACRA), Singapore’s national regulator of public accountants and business entities, every company is required to appoint a company secretary within the first six months after its incorporation. To fit the position, the chosen candidate must be a resident of the country either by birth or acquired status. More to this, a sole director in the company is not a viable candidate for the position. However, if there are a number of directors in the company, the company secretary can be an appointee who is also a director.

Required qualifications for a company secretary

qualification certificateQualifications required of any individual offering company secretarial services in Singapore are stipulated by the Companies Act, Section 171 (1AA). According to the Act, a suitable candidate must fulfill at least one of the following qualifications;

  • Held a position of a company secretary for at least three years within a period of five years right before the appointment to a public company.
  • Holds legal profession qualifications and registration as stipulated by the Legal Profession Act (Cap. 161).
  • Be qualified and registered as a public accountant in accordance with the Accountants Act (Cap. 2)
  • Be registered and active member of the Institute of Certified Public Accountants of Singapore.
  • Be a registered member of the Singapore Association of the Institute of Chattered Secretaries and Administrators.
  • Be a registered member of the Singapore Branch of the Association of International Accountants.
  • A registered and active member of the Institute of Company Accountants in Singapore.

Appointment of the company secretary

In Singapore, it is the duty of the company’s board of directors to appoint the most effective company secretary. This is done in accordance with the laid rules and regulations of the company where the board also decides on the extent of duties and responsibilities accorded to the secretary. Some of the key consideration in the setting of the company secretary’s remuneration includes qualifications and experience among others.

 Employing a company secretary or outsourcing of the services

Outsourcing SolutionsDespite being a requirement for a company to have a secretary, it is not stipulated as to the terms under which one is engaged. For this reason, small and start-up companies may find it difficult to have a company secretary hired on a full-time basis. In such an event, sourcing for the services from independent services providers comes as a viable option. This not only provides an opportunity to enjoy the services at a reduced cost but as well, the cost of infrastructure to construct and equip a new office is also foregone. Independent company secretarial service providers are always available, provide with the service on contractual basis giving the company an opportunity to enjoy the quality and experienced services. However, a background check is important in selecting such a company to ensure it possesses the right qualifications and capacity to handle the desired responsibilities.

Expected roles of a company secretary

professional secretaryAt the time of appointment, the ideal candidate must be in a position to fulfill the expected role within the company. The role of the secretary in this regard is to ensure the company abides by all the set legal obligations as well as ensuring the company affairs are run in accordance with the set rules. A company secretary is required to act at all times in the interest of the company and avoid conflicting interests with other parties. This is further extended to the directors who expect to be provided with timely information in regard to board meetings and the content to be discussed in such forums. It is the responsibility of the secretary to ensure that shareholders are informed of the annual general meeting and they are equipped with financial statements to enable them takes part in decision making during the meeting.

 

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Why To Set Up A Website For Your Business

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Business in today’s wPS iconorld is becoming progressively “worldwide” – the spectators for your small business are no longer restricted to the ones within your close vicinity, area, or even your own country. Citizens from all over the planet can become your clients or brand advocates, many thanks to the Internet facility.
There are a lot of ways in which you can obtain the word out regarding your small business on the Internet, but not anything beats having a website devoted to your products and services around.

If you have possession of a small business but you have yet to construct your own website, below are the a few most important reasons why you should build one immediately:

Save capital – The whole thing has a price…excluding for building a website! There are websites that let you to make a free small business website for your small business. All you require is the important information to be posted on the website and that’s it. The only drawback of building a website for free is the restricted options and features, as well as be short of custom design selections. In this case, you pay for your own web hosting and domain for utmost customization.

Increase habits to making a sale – The reason why site like Amazon, eBay, and other shopping websites are so well liked right now is because they make funds off people purchasing straightforwardly from their websites. Public won’t have to come over to the shopkeeper and paying the cash upfront behind the counter, which takes up many time and effort. The easier it is for clients to make a buy from your store, the superior the likelihood are in converting them into your clients.

With a website, you could do the similar for your small business! You can set up an order/purchase request form teamwork_horizontaland enable diverse payment options to accommodate the diverse credit cards of clients. This way, public can now pay for purchase directly from your website with just a click of a button.

Operate 24hrs a week – Unlike several companies working in brick-and-mortar offices and functioning at certain times of the day in a week, having a good website allows you to provide public with knowledge about your small business – even while you’re resting! Once your website is live, public can visit and look through the information in it any time of the day in a week. They can even put orders or ask related questions from your site so you can collect them once you log in your mail.

Increase social media presence – Social media devices like, Television, radio, and newspapers are immense places to make your brand. However, you have to ask the query, “What other ways can I prop up my own business?”

As per the Internet World Stats, approximately 1/3 of the entire population has been using the Internet very frequently since early 2000. The number of users has improved exponentially since then.

transparentAt last; a good-looking well-featured website explaining and offering a complete set of information of all your products can boost your earnings exponentially. The thing is that people will decide very fast if a website is worth visiting or not. This is why your website should contain relevant information and even something extra to attract more visitors and determine the current visitors to become active shoppers.

It takes them just about 15 seconds to decide one way or another, so if you don’t know what to add on your website, ask a web designer to run an analysis for your type of business and see what is appropriate to insert as content and information, apart from all that is strictly related to your services and products.

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