Singapore is the world’s tech-savviest city. It should therefore come as no surprise that it serves as an incubation hub for startups and entrepreneurs.
With global connectivity, easy access to research organisations, and top talents, not forgetting the business-friendly environment and supportive infrastructure, Singapore lends itself better to your company’s long-term prospects.
However, as it’s with operating a company in any foreign land, some laws and regulations govern the whole process of doing business in the country.
The sheer volume of these government laws and regulations is enough to make your head spin.
In comes the services of a corporate secretary.
Think of a corporate secretary as the glue that holds your entire organisation together.
They’re responsible for ensuring your company stays in compliance with the regulatory and statutory requirements, while also helping you execute all decisions, changes, and resolutions set forth by the company’s board of directors.
What’s a Corporate Secretary?
https://youtu.be/8lK6gqFQikY
In general, the state requires corporations to designate a corporate secretary. It’s also required that they be present at all BOD meetings.
In short, they’re to act as the corporation’s officer.
The exact obligations they fulfil may vary from one corporation to another, typically outlined in the corporation’s bylaws.
What are the Responsibilities of a Corporate Secretary in Singapore?
A Corporate Secretary’s primary role doesn’t start and end with them taking and recording meeting minutes.
While taking and recording meeting minutes is one of their key responsibilities, it’s not anywhere near the entirety of their pivotal corporate role.
That being the case, here are the duties and responsibilities of a company’s corporate secretary:
1. Planning and Executing Boarding Meetings
It’s the Corporate Secretary’s job to plan and execute all Board of Directors’ meetings, as well as committee meetings. They’re to strategically plan for everything, create agendas, invite appropriate attendees, reserve the meeting space, and cover all the logistical issues.
They also oversee the corporation’s shareholders meetings.
2. Record Keeping
The Corporation’s Secretary doesn’t just take meeting minutes; they’re also responsible for their dissemination and substance.
These minutes must accurately describe and communicate the final decision reached by the board of directors.
They’re much more than a scribe; they’re the officers who implement all the pronouncements made by the board.
3. Advisor
A Corporate Secretary advises the BOD on their duties and goals. They also advise them on the individual roles of the officers.
For corporations that own subsidiary companies, the corporate secretary will counsel the board of directors on how to best govern and manage them.
Trainer
When a new board member joins the board of directors, it’s the Corporate Secretary’s role to oversee their training, orientation, and briefings.
TOP CORPORATE SECRETARIAL SERVICES IN SINGAPORE
Corporate Secretarial Services Provider |
Bestar Services |
| About | Bestar is a corporate outsourcing firm offering a range of corporate secretarial services in Singapore, including payroll management, consulting, auditing, HR support, corporate taxation, and financial advising.
They’re considered one of the best providers of payroll management services. The company uses a more advanced and sophisticated payroll management system that ensures employees receive accurate and timely payments. |
| Key Clients | · HBAOffshore
· Proofer · Food Panda · Tipox · Dehotel |
| Key Services | · Incorporation
· Accounting · Corporate Secretarial services · Drafting of commercial contracts · Due delligence reviews |
| Contacts
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Corporate Secretarial Services Provider |
Jaanik |
| About | Jaanik is an agency dedicated to helping companies with their administrative tasks. Their goal is to help these companies focus on their core business function, which is growing it.
Jaanik promises to get your company incorporated in less than an hour, unless otherwise. Their team consists of chartered accountants and accredited professionals that work efficiently, thus delivering quality. |
| Key Clients | · Explara
· Orange Emotions · Nuscience Singapore · Louise Hill Design · Antao Marine Consultation |
| Key Services | · Taxation
· Accounting · Incorporation · Corporate Secretarial services · Business support |
| Contacts
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Address: one ruffle place,#27-03 tower 1, Singapore 048616
Tel: (65) 6909 6323 Website: https://www.jaanik.com/ Email: sales@jaanik.com |
Corporate Secretarial Services Provider |
A1 Business |
| About | A1 has been around since 2007 when it was started and registered. They’re among the senior providers of corporate secretarial services in Singapore.
However, their services aren’t limited to secretarial solutions only. They also offer a series of other business solutions as well. Their services are reasonably priced, which explains why they’re a preferred solution to so many international clients. |
| Key Services | · Accounting
· Auditing · Taxation advisory services · Corporate finance advisory services · Company secretarial services |
| Contacts
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Address: Road 4439 Fajar Road, #04-424, Singapore 670439
Tel: (65) 6521 6738 Website: https://www.a1corp.com.sg/ Email: hello@sgbusiness.com |
Corporate Secretarial Services Provider |
Conpak |
| About | Conpak understands how important time is to businesses, and they are here to help you spare much of it so you can focus on the most critical part of your business – and that’s, growing it.
In their service list is a range of secretarial services, including taxation consultation, accounting, audit, and so on. They also provide all-rounded secretarial services tailored to your specific enterprise needs. |
| Key Services | · Hong Kong company incorporation
· Macau company incorporation · Offshore company incorporation · Overseas company incorporation · China company incorporation |
| Contacts
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Address: 21A Mosque street, #02-00, Singapore059501
Tel: (65) 6538 7488 Website: https://www.conpak.com/ Email: info@conpak.com |
Corporate Secretarial Services Provider |
Left Right Corporate |
| About | Left Right is the goldilocks of secretarial business solutions in Singapore, and it’s all for a good reason. As they evolve and adapt the latest technology, they also try to make sure that their clients also adjust with them.
Startups don’t need to fret or experiment with anything. With LeftRight corporation, businesses should have an easy time comprehending and utilising technological innovations as they come. |
| Key Services | · Company Secretary
· Accounting and Compliance · Annual Return Filling · Tax Filling and Computation · Bookkeeping |
| Contacts
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Address: 190 Clemenceau Avenue, #06-06, Singapore shopping centre, Singapore239924
Tel: (65) 3159 4755 Website: https://www.leftrightcorp.com/ Email: contact@leftrightcorp.com |
| Review | “Superb customer service. They helped me set up my Singaporean company. Been five months going great and enjoying the services very much.” |
Corporate Secretarial Services Provider |
Rikvin |
| About | Rikvin was established in 1998, and as we speak, it’s one of the most trusted providers of corporate support services in Singapore.
The company has a huge clientele, including some of the well-established brands you know, like ACE, PUB, EDB, Found 8, and Orissa International. |
| Key Clients | · Reliance
· Hawk Aerospace · Agoda · Hungama · Nauvata |
| Key Services | · Accounting
· Corporate secretaries · Taxation · Business support · Computer registration |
| Contacts
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Address: 30 Cecil Street, #19-08. Predental Tower, Singapore 049712
Tel: (65) 6320 1888 Website: https://www.rikvin.com/ |
| Review | “I had excellent service from Rikvin for the 5 years that I used their services. Professional, highly responsive, knowledgeable and trustworthy.” |
Corporate Secretarial Services Provider |
Deloitte BPO |
| About | Deloitte is an internally recognised provider of consulting, audit, assurance, tax, financial advisory, and risk advisory services in Singapore. For more than 175 years, the company has been dedicated to helping businesses make a real difference.
The company boasts of serving four out of every five Fortune 500 companies. |
| Key Services | · Corporate Secretarial
· Audit and Assurance · Financial Advisory · Consulting |
| Contacts
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Address: 6shenton way,OUE Downtown 2,#33-00, Singapore 068809
Tel: (65) 6224 8288 Website: https://www2.deloitte.com/sg/ |
Corporate Secretarial Services Provider |
Sbs Consulting |
| About | While many on the companies on the list offer a range of business solutions, Sbs Consulting specialises in corporate secretarial services only. They’re well-known for their top-notch, cost-effective, and reliable services.
They should be among the top companies you contact, particularly if you’re looking for a company to help you out with managing your shares, keeping track of your board meetings, arranging your general meeting, and handling of other secretarial activities. |
| Key Clients | · ATM Global Corporation
· RGS Repro Graphic solution · United Academy Pte ltd · Okeover Holding Pte ltd · IGlobal Research Pte ltd |
| Key Services | · Company incorporation
· Accounting services · Business services · Immigration/passes · Online payments |
| Contacts
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Address: High Street Centre, #18-03, 1 North Bridge Rd, Singapore 17909
Tel: (65) 6653 1211 Website: https://www.sbsgroup.com.sg/ Email: info@sbsgroup.com.sg |
| Review | I would like to thank you for your professionalism and efficiency. Your assistance and sound advice has allowed me to compute my tax bill in efficient and prompt manner.” |
Corporate Secretarial Services Provider |
Bluemeg |
| About | Bluemeg started in Hong Kong. In 2017, they would set up shop in Singapore, positioning themselves as a global provider of secretarial services. Since they started, the company has been aiming to bridge the gap between tailored secretarial services and a new digital era.
Bluemeg is well-known for utilising technology to enhance their clients’ experiences. Their pricing might be slightly higher than that of a median provider of secretarial services in Singapore, but you get to enjoy the benefit of working with a top-of-the-shelves service provider. |
| Key Clients | · Stripe
· Adobe sign · CR · Invest HK · My Info |
| Key Services | · Company Secretary
· Accounting · Corporate Tax filling · Company Formation |
| Contacts
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Address: 6 Raffle Quay, #11-07, Singapore 048580
Tel: (65) 6931 6733 Website: https://bluemeg.com/ Email: singapore@bluemeg.com |
| Review | “These are amazing professionals. I have done governance admin for countless entities in a number of jurisdictions and this is the first time it actually did not feel like a chore! Their punctuality and professional service, combined with their software, really makes your life easier. Keep up the good work!” |
Corporate Secretarial Services Provider |
Osome |
| About | Osome was incorporated in 2017 and is well-known for using an interesting chat-based app to resolve their clients’ compliance issues.
Almost all the questions you have can be answered by this chatbot – of course, with an option to chat directly with a human agent if need be. |
| Key Clients | · Tinvio
· Swingvy · Startup · Found8 · Stripe |
| Key Services | · Corporate Secretary
· Bookkeeping · Incorporation · Accounting and Taxation · Employment Pass |
| Contacts
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Address: 80 Robinson Road, #08-01, Singapore 068898
Tel: (65) 6589 8807 Website: https://osome.com/sg/ Email: partners@osome.com |
| Review | “Positive and speed experience with incorporation and getting docs for bank account opening. Digital interface makes it easy to engage. A much smarter solution than your typical corporate secretary.” |
Corporate Secretarial Services Provider |
PWC |
| About | PWC is as professional and competent as it can get. They have one of the most qualified and highly experienced teams that promise to listen to your viewpoint so they can offer tailored business solutions targeted at helping you maximise the opportunities around you. |
| Key Clients | · Consumer markets
· Health industries · Financial services · Industrial manufacturing and automotive · Technology, media, and telecommunications |
| Key Services | · Financial services
· Audit and assurance · Advisory services · Digital solutions · Tax services |
| Contacts
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Address: 7 Straits View, Marina One East Tower, Level 12, Singapore 018936
Tel: (65) 6236 3388 Website: https://www.pwc.com/sg/ |
Corporate Secretarial Services Provider |
Reliance Consulting |
| About | Reliance Consulting is a dedicated provider of top-notch corporate secretarial services in Singapore. Their goal is to help agencies from all across Asia deal with administrative tasks, accounting, taxes, and business regulations.
Their services stretch far beyond basic secretarial tasks. To be more specific, the company lends itself as a strategic partner to companies that could also use some advisory services. |
| Key Clients | · Defu Furniture
· Elgin · LWS · Kawashi |
| Key Services | · Taxation
· Auditing · Corporate secretaries · Business support · Incorporation |
| Contacts
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Address: 65 Chulia Street, #46-01OCBC Centre, Singapore 049513
Tel: (65) 6670 6820 Website: http://www.relianceconsultingservices.com/ Email: hansteo@relianceconsultingservices.com |
| Review | “Overall, their services are friendly, efficient, and good value.” |
Corporate Secretarial Services Provider |
FreeInCorp |
| About | Incorporating a business in Singapore involves a lot of paperwork. FreeInCorp offers to take the hassle off the whole process and make work easier and more organised for companies that reach out for their services.
FreeInCorp puts its clients first. Clients can book an appointment with them any time, including during the weekend and after office hours. |
| Key Services | · Payroll services
· Accounting · Secretarial services · Tax services · Annual compliance services |
| Contacts
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Address: 2venteredrive, Vision Exchange, Singapore 608526
Tel: (65) 6266 2856/ (65) 8786 9696 Website: https://freeincorp.sg/ Email: contact@freelncorp.sg |
Corporate Secretarial Services Provider |
BDO |
| About | BDO is a full-service corporate secretarial solution. They also offer business audits, business restructuring, corporate finance, risk advisory, management consulting, and financial auditing.
They have served almost all types of clientele, including public and private companies, subsidiaries of MNC, and industry-specific companies. |
| Key Clients | · Real estate and construction
· Consumer business · Financial services · Professional services · Manufacturing |
| Key Services | · Tax
· Audit and assurance · Advisory · Business services outsourcing · Company registration |
| Contacts
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Address: 600 North Bridge Road, #23-01 Parkview Square, Singapore 188778
Tel: (65) 6828 9118 Website: https://www.bdo.com.sg/en-gb/home Email: career@bdo.com.sg |
Corporate Secretarial Services Provider |
Enterprise Biz Pal |
| About | Enterprise Biz Pal specialises in a range of affordable bookkeeping and accounting services for startups, as well as small and medium-sized companies in Singapore.
They’re here to help you cut a huge chunk of your day-to-day workload so you can focus on your core business. |
| Key Services | · Bookkeeping
· Company Secretarial · Accounting · Corporate Tax · Company Registration |
| Contacts
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Address: 1 Yishun Industrial Street 1, #03-25 A Posh Bizhub, Singapore 768160
Tel: (65)3151 7308 Website: https://www.enterprisebizpal.com/ Email: sales@enterprisebizpal.com |
| Review | “Very pleasant encounter and excellent work! Thanks for completing my accounts at such short notice.” |
Corporate Secretarial Services Provider |
SBS CONSULTING |
| About | SBS specialises in corporate secretarial services. If you’re strictly looking for someone to help you out with secretarial work and nothing else, then you might want to start by checking out SBS Consulting. |
| Key Services | · Bookkeeping
· Company Secretary · Payroll · Corporate Tax Filling · Audit Services |
| Contacts
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Address: High Street Centre, #17-02,1 North Bridge Road, Singapore 179094
Tel: (65) 6536 0036 Website: https://www.sbsgroup.com.sg/ Email: info@sbsgroup.com.sg |
| Review | “In my opinion, SBS is the best accounting firm in Singapore. They deliver what they promise with speed and accuracy. There are no hidden costs which matter to me. I don’t like surprises. They are very professional.” |
Corporate Secretarial Services Provider |
Corporate Guide |
| About | If you’re struggling to start a new business in Singapore or manage your daily administrative tasks, then Corporate Guide offers to guide you all through the process and even take these small tasks off your hands.
They’re here to guide you on incorporating your company, file your trademark, market your business, and so much more. |
| Key Clients | · Havil
· Fitlah · Bio Mark · Haikee · Sunez |
| Key Services | · Trademark filling
· Web and Email hosting · Marketing consultant · Business line and receptionist |
| Contacts
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Address: 531A Upper Cross Street, #04-88/89, Singapore 05153
Tel: (65) 6589 8660 Website: https://www.corporateguide.sg/ Email: Contactus@corporateguide.sg |
| Review | “Great company and Great Services they are provide. thumbs up!!!” |
Corporate Secretarial Services Provider |
Sleek |
| About | As one of the leading providers of corporate services in Singapore, the company excels in visa filling, accounting, company incorporation, and a host of other secretarial services.
Their services are quite affordable compared to other corporate secretarial services in Singapore, which makes them an ideal choice for small and medium-sized businesses. |
| Key Clients | · Business insider
· Tech crunch · Yahoo finance · Invest HK · TECHINASIA |
| Key Services | · Corporate secretaries
· Accounting · visa · Incorporate |
| Contacts
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Address:28C Stanley street, Singapore 068737
Tel: (65) 6909 2214 Website: https://sleek.com/sg/ |
| Review | “When having an issue with another Singapore-based Private Limited management company, Sleek responded immediately with pertinent and timely information, put my mind at ease, and reached out to keep me on track. They definitely deliver a personal touch the other company I was working with did not deliver. Don’t hesitate.” |
Corporate Secretarial Services Provider |
Konundra Management |
| About | Konundra is a boutique business advisory firm dedicated to helping startups and
SMEs address their financial issues and the other challenges a business is likely to face in the early stagte. |
| Key Services | · Management services
· CFO services · Accounting and tax · Advisory services · Company incorporation |
| Contacts
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Address: 7 Keppel Road, Tanjong Pagar Complex, #02-04/04A Singapore089053
Tel: (65) 6256 9663 Website: http://konundra.com/ Email: enquiry@konundra.com |
Corporate Secretarial Services Provider |
Sandhurst Consultancy |
| About | Starting a business in Singapore requires extensive knowledge and understanding of so many things. Thankfully, Sandhurst is here to help you gain some of this knowledge and at least set off on the right foot.
The company takes much pride in being one of the leading company registration and incorporation service providers. |
| Key Clients | · CRM Software
· SEO Services · Media kit · Magazine subscriptions · Goodboxes |
| Key Services | · Corporate services
· Accounting and tax · Migration services · Singapore business · Company registration |
| Contacts
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Address:77 High St, Singapore 179433
Tel: (65) 6338 4202 Website: https://www.e-sandhurst.com/ Email: info@e-sandhurst.com |
| Review | Apart from their specialised industry knowledge in the area and region that we are working on, Sandhurst Consultants did a tremendous job in the process of incorporating our company. The procedure was smooth and very straightforward.” |
Traits of a Competent Corporate Secretary
The best candidate to fill the position of a Corporate Secretary should possess the following traits:
- Detailed oriented and supremely organised
- Excellent problem solver
- Familiar with the laws and regulating governing the business landscape in Singapore
- Extremely discreet
- A calm mediator, rational in their decision and judgement
- Can perform under pressure
- Acquainted with bureaucratic red tape
- Patient and effective communicator
- Experienced at managing all the corporation’s departments and individual employees
Corporate Secretarial Services in Singapore
The corporate world has changed a great deal, and so have corporate secretarial services.
Traditionally, Corporate Secretarial Services were characterised by a clerk taking and recording board minutes. It has now evolved to mean the driver of all the corporate board affairs and the consultants on all matters relating to a company’s investor relations.
Corporate secretarial support services include but are not limited to:
1. Regular Secretarial Health Checks and Compliance Matters
- Ensuring the Companies Act, Article of Association, Memorandum, and Shareholders Agreement are adhered to.
- General compliance advisory
- Ensuring compliant on both regulatory and statutory requirements
2. Share Registry Services
They’re to help you manage your share registry. In which case, they’re the party responsible for:
- Transfer of shares
- Allotment of shares
- Ensuring all the transfer of shares comply with the Companies Act and Company’s Article
- Any alteration of share capital
- Issuance of share certificates
3. Preparation and Filling of Your Annual Returns
The corporate secretarial services agency you hire is also responsible for preparing and filing your Annual Returns to ACRA.
They’re to help you prepare audited financial statements and submit them to ACRA at the end of every fiscal financial year.
4. Custody of Secretarial Documents and Company Seals
- They’re to help you keep your secretarial documents and company seals in safe custody, and ensure it’s used as specified in the company’s Article of Association.
- Ensuring the transactions to be executed under the company seal are executed appropriately.
- Keeping your company’s secretarial documents safe.
- Preparing and Maintaining the Statutory Registers below:
- Register of members
- Register of all sealed documents
- Register of all charges and mortgages
- Register of directors
- Register of shares allotment and transfers
6. Execution of Documents
Stamping and signing of all company documents on behalf of your board of directors
7. Shareholders Meetings
- They’re to ensure Annual General Meetings are held annually, per the Companies Act and the Company’s Articles of Association
- Prepare the AGMs, including the agenda, notice, and shareholders packs
- Take and record minutes of the meetings’ minutes. They’re to also record its attendance
- Draft and extract resolutions and the action points in the minutes and make sure they’re appropriate for implementation and execution
- They’re to update and maintain the organisation’s minutes and resolutions
8. Liaising with Auditors and Other Stakeholders
Liaising with auditors, tax advisors, lawyers, bankers, and other stakeholders on behalf of the board.
9. Monitoring Legislation Changes
A corporate secretarial service provider will always have their fingers on the pulse of the latest legislation changes.
They’re to monitor all the changes and act accordingly.
10. Ensuring Transparency and Accountability
They’re to also ensure transparency and accountability in the overall functioning and activities of the company.
11. Guiding the Board and Its Chairman
They’re to guide the board and its chairman on their responsibilities, as determined by the applicable rules and regulations. They’re to also ensure those responsibilities are discharged correctly.
12. Ensuring Effective Communication Flow
They’re to ensure an effective flow of information between the board and its committees, and between the senior management and non-executive directors.
5 Essential Tips for Choosing a Corporate Secretarial Services Provider in Singapore
1. Understand the Breadth of a Corporate Secretariat Role
From record-keeping to serving as your company’s communication officer and executive assistant, the job of a corporate secretarial services provider in Singapore can be broadly classified into three:
- Administration
They’re to act as your primary point of contact for ACRA on the particulars of your company. They’re also responsible for taking and recording your company’s EGMs and AGMs.
They’re to file important company documents, including ACRA, IRAS, and other relevant authorities, not to mention ensuring your company registers are all up to date.
- Advisory
A corporate secretary is also tasked with an advisory role to the board. They’re to offer practical advice to the director when needed. This includes communicating with the board of directors on legal requirements and compliance practises.
- Fiduciary
A corporate secretary has to communicate regularly with shareholders. They’re to help them safeguard their best interests.
They’re required to disseminate timely financial statements to shareholders to prepare them to take part in the company’s decision-making during the AGMs.
2. Don’t be too Egocentric to Think That You Can handle all this By Yourself
When running a company in a foreign land, the first thing you’ll need to do upon landing is to enlist the services of a corporate secretary. Woe unto you for thinking you can operate without one.
The point is, you need a company secretary to perform the simple secretarial tasks so you can focus on your company’s core function.
You need an experienced company secretary and not just someone random you stumbled across.
Amateur secretaries make a lot of common mistakes that always find a way to crawl back and bite the company later on—for example, not choosing the end-year date carefully so they can maximise tax advantages.
Every single one of the mistakes they make has consequences enough to render that particular action invalid.
3. What’s their Experience in Dealing with Startups
If you’re running a startup, you want to make sure the company is well aware of some of the issues startups face, considering it’s the secretary’s job to process and execute all the resulting paperwork.
Startups operating overseas tend to grow faster. Most of them, in fact, go through several rounds of investments during their first year of operation. So, be prepared to deal with multiple classes of investors and shares.
4. Choose a Secretary Who Runs at Your Company’s Speed
It’s not uncommon to come across a secretary who still executes most of their operations on paper, with a physical signature. This could mean that they’re wasting a lot of time running around.
You want to make sure the company knows how to use the latest technology to execute some of these operations. Do they know how to use digital signatures – which happens to be legally recognised here in Singapore?
The more informed they’re on matters tech, the more they’ll be able to cut on cost and save time.
5. Make Sure There are No Hidden Charges
Don’t assume anything.
Does the secretaries quote include ACRA fees, or will you be paying for it separately?
You have to find out beforehand about how the company plans to handle your bills.
The company may offer you an a-la-carte list or come up with a one-set bill.
Either way, you have to know what’s included in the bill and what’s not included to avoid overspending in the long run.
Reasons to Change Your Current Company Secretary
You can change your company secretary if they’re not competent enough or if they lack secretarial professionalism.
Here are more particular reasons to change your company secretary:
- Failure to attend to the interests of stakeholders
- When your company pays for fines and penalties that your corporate secretary could have easily prevented
- Not providing timely responses to some of the queries raised by the authorities
- Failure to disseminate information on time or to communicate the information the board needs
- Filing documents without making appropriate resolutions with authorities
- Incorrect end-year selection. It bears repeating that the secretary must make a correct end-year selection to maximise tax benefits.
- Failure to comply with the Companies Act and your Company’s Article of Association
What’s the Cost of Hiring a Corporate Secretary in Singapore?
It’s a legal requirement in Singapore to hire a company secretary within six months of incorporating your company.
The position of a company secretary should be filed within six months of registering your company. Companies have two options when it comes to this. The first one is to hire an in-house secretary and the second one is to enlist the services of a corporate service provider.
Here’s a simple breakdown of the cost of hiring a corporate secretarial service firm in Singapore:
Annual Subscription Fee
Every corporate secretarial service provider in Singapore has an annual subscription plan. You’re to pay the company an agreed amount, and they’ll provide you with a named company secretary.
They’ll also help you maintain the company registers and even file all your resolutions and correspondences for the year.
Think hiring an out-stationed company secretary. Instead of hiring a company secretary to handle your business in your offices, you’ll have them run your business from their offices instead.
Remember: Singapore has super-strict laws on anti-terrorism and anti-money-laundering. The worst mistake you can ever make is leaving anything to chances. You want to be keen on how you maintain your registers, especially those on your nominee directors and controllers.
This is the standard package and can cost anywhere between $100 and $1000, depending on the company and the services provided.
Annual General Meeting
It’s a legal requirement to hold a meeting with your board members and other stakeholders at the end of every fiscal year. All the directors and relevant stakeholders have to be notified about this meeting in advance.
During this meeting, the company’s financial statements have to be tabled and approved by all the directors and shareholders.
Failure to organise this meeting will get your company fined (composition fine).
Filing of Your Annual Returns
This is where the financial statements are prepared and submitted to ACRA. It’s to also confirm that you held the AGM.
Failure to submit your annual returns will also get you fined (composition fine).
Bookkeeping Fees
This is usually optional with many providers of corporate secretarial services in Singapore. If your company already has an in-house accounts team, then there’ll be no need for you to request for bookkeeping services, unless otherwise.
The amount you pay for bookkeeping services may vary depending on the volume of your transactions. They have the highest fees, considering they’re to be paid monthly.
Bookkeeping services will at least cost you $150 per month.
