Why You Should Invest in a Corporate Secretary

February 8, 2022

Apart from the Singapore Companies Act mandating the appointment of corporate secretaries, you should invest in one because they aid in your company’s functionality. As the business owner, you have an entire team under you. With that, you will be overflowing with work to do, and you need a helping hand to handle other tasks.

What Corporate Secretaries Do

According to Section 171, Chapter 50 of said act, corporate secretaries manage administrative and documentation work and ensure that the company adheres to all compliances set. In addition to that, here is a list of some of the duties and responsibilities of a Corporate Secretary:

  • Attend all board meetings and take note of the minutes
  • Remind the Executive Board of what they have to accomplish
  • Aid in the change of leadership (Ex: Assisting new Directors)
  • Monitor business deals (Stock issuance, review of contracts, manage stocks, track operations)
  • Organizes subsidies
  • Serves as a liaison for communication between the company, government, and investors in regards to all business matters

Stated above are just some of the values a corporate secretary brings to a company. Having a corporate secretary in your business would alleviate your load and enable you to have more time to think of ways to flourish your corporation further. You may check out this site for more info, https://marginwheeler.com/company-secretary-service/.

How to Hire a Reputable Corporate Secretary?

Given the magnitude of a corporate secretary’s contribution, you would need one that you can count on. After all, you will be entrusting that person with a significant amount of business information. Here are some qualifications that you should consider:

  • Prior field experience
  • Recommendations from past employers
  • Knowledge of technological accessories (MS Word, MS Excel, etc.)
  • Ability to multitask
  • Can communicate effectively
  • Can work with minimal supervision

Also Read: The Significance of AI in Transforming Digital Banking Platforms

If you are experiencing difficulties looking for these qualifications, you may opt to avail services from Corporate Secretary Agencies. These usually cost around $500 annually, but you are assured of the services’ integrity. In addition to that, you will only need to submit the following legal documents, and they will handle the profiling of your company secretary:

  • Company Profile
  • A Photocopy of Identification of the Executive Board
  • Memorandum of Agreements and Articles of Association

A Corporate Secretary Agency in Singapore has also provided a specialized list of services. Some of the services included in this list are:

  • The guaranteed fit of Company Secretary assigned to your company
  • Opening of bank account
  • Free courier service of finalizing documents
  • Unlimited access to professional consultations on issues concerning your company secretary
  • Private relationship manager for your company
  • Maintaining registers and books
  • Eligible to request drafts of resolutions

In choosing an agency for hiring a company secretary, it would be helpful to look for those benefits to ensure that there will be no foul play involved. You should be cautious with these because there might be hidden fine prints or overcharges if you overlook them.

Key Takeaway

The value a corporate secretary adds to your company is a great deal. They help run the business by managing numerous logistical operations and technical documents. You have to be keen on choosing your secretary and the agency you will work with because you will be entrusting confidential company information.

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