Having efficient employees is integral to the success of any business. When you are establishing your business, one of the positions that need to be filled up with a proficient candidate is that of the company secretary. A company secretary shoulders the responsibility of administering the company efficiently, particularly ensuring compliance with regulatory and statutory requirements and implementation of the board of directors’ decisions. Since this is a key role, you need a competent person to handle this responsibility. If you are running a business in Singapore, you need to be aware of a few things before hiring a company secretary.
The role of the company secretary involves legal responsibilities
The Singapore Companies Act states that a company in Singapore has to appoint a secretary within a time period of six months from incorporation. A sole director or shareholder does not have the right to work in the capacity of a company secretary. Among the various responsibilities of the company secretary are those of handling the company’s incorporation process, ensuring the fulfillment of regulatory requirements, and filing of required business documents.
It is a position that demands experience and expertise
When a position involves such major responsibilities, you have to make sure that the candidate you select is adept at handling the tasks with ease. Having an untrained or inexperienced person working in this position can create various problems for your company. Non-compliance with the government regulation for businesses can lead to fines and imprisonment. To avoid such troubles, the best thing to do is to go for an outsourcing firm like https://www.e-sandhurst.com/role-company-secretary/ who are adept at providing company secretarial services to all kinds of businesses.
You can’t afford to be lax when starting out
Singapore is a country where the regulatory laws for business are quite strict. If your company secretary fails to handle the responsibilities carefully, you risk landing up in legal troubles even before you can introduce your service or product in the market. This can mean a swift end to your dreams of running a business venture in Singapore. To make sure that such a mishap does not happen to your business endeavor, either you hire a company secretary and hope that everything just goes fine or outsource the job and be assured of a smooth run.
Consistency is a necessity
As far as running a business in Singapore is concerned, consistency is a keyword. You have to be consistent in being compliant with the government regulations. If you miss out on anything or do not complete certain procedures on time, they can lead to a lot of hurdles for your company. If you don’t have a company secretary taking care of such things, it may not be possible for you to manage everything properly. Given that you will need the time and energy to concentrate on your core business activities, you will need to relegate these duties to be handled by the company secretary. So, an outsourcing firm can be the ideal choice for you to take care of your company secretary responsibilities in a flawless manner.