Company Secretary in Singapore

Company secretary (or corporate secretarial) is responsible for the administrative work of a company, ranging from reporting and updating of company information on ACRA to preparing the agenda for annual general meetings (AGMs) and recording minutes of the AGM.

Here are the corporate secretary’s roles and responsibilities:

1. Updating and filing with ACRA
2. Maintenance and upkeep of statutory registers
3. Preparation of board meetings and AGMs
4. Miscellaneous services like:
   • Reminders of filing deadlines
   • Ensure the safekeeping and proper use of the company seal
   • Monitoring shareholder register and movement of shareholders
   • Maintaining shareholder relations

Read more: How to Choose a Company Secretary in Singapore?

A company secretary is an officer of a company who manages all the statutory requirements of a business and acts as an advisor to the directors and the shareholders of a company. 

A person should meet the following conditions to be appointed as a company secretary:

• Should be a natural person,
• Should be a resident of Singapore,
• Should not have been debarred under section 155B from acting as secretary of the company,
• Should not be a sole director of the company,
• Should have the following qualifications:
  • For a private company, the individual need not be a professionally qualified secretary.
  • For a public company, the individual needs to be a professionally qualified secretary like a lawyer, accountant, or chartered secretary, or been a secretary of a public company for at least 3 years in the preceding 5 years.

A foreigner residing in Singapore can also be appointed as a company secretary, provided they have a valid work visa. The company would either need to sponsor an Employment Pass (EP) or an S Pass for the foreigner to work for them or hire an EnterPass holder for the position.

Every business entity, except for a Sole Proprietorship, Limited Partnership (LP), and Limited Liability Partnership (LLP), is required to appoint a corporate secretary in Singapore. Companies should also note that the position of a company secretary cannot be left vacant for more than 6 months.

Find out more on how to appoint a company secretary here.

The company secretary has to ensure that a company’s documentation, annual filing, and other statutory needs are in place. Their takes vary from company to company, but some of the basic ones include:

• Maintaining and updating company registers
• Preparing the books of accounts
• Organizing the Annual General Meeting (AGM) and other board meetings
• Making and circulating the minutes of the meetings (MOM)
• Keeping the directors aware of the tasks they need to perform and the deadlines for the same
• Filing the annual returns
• Updating any changes in the company’s particulars on ACRA via BizFile
• Updating company’s officers’ details on ACRA 
• Making sure there is enough insurance cover for the company, office, directors, and other officers and staff. 
• Corresponding with the shareholder and addressing their queries.

Today, the company secretary is supposed to do much more than what is mentioned in their contract. They are expected to act as an advisor to the management. And also, in case of any issues between the shareholders and the directors, resolve them. That’s why appointing an accomplished and qualified company secretary is a must. 

A good corporate secretary would always be proactive and keep themselves updated with all the new rules and regulations. They should be able to advise the management on matters related to human resources matters, bank loans, mergers and acquisitions, and if legally trained, on legal matters as well. 

It is also the secretary’s responsibility to be trustworthy and act in the best interest of the company. That is why it is crucial to select the best corpsec services provider there is. There shouldn’t be any conflict of interest and he/she shouldn’t make any illegal profits in the name of the company or by disclosing the company’s confidential details. 

There are a lot of vital statutory tasks that a company needs to do that can get overlooked when one is busy accomplishing their business priorities. The company secretary takes care of all these jobs and ensures the company doesn’t default on this front. The role of the corpsec in compliance is vital. For some, it might feel like a financial burden to hire another headcount, but it’s actually a long-term investment. ACRA too recognized the importance of hiring a corporate secretary and hence made it a mandate. They are ensuring that the companies stay compliant and safeguard the interests of the stakeholders of the company. Also, while the final responsibility for complying with legal obligations lies with the company directors, ACRA holds the company secretary equally responsible for non-compliance.

Switching your company secretary to HeySara is a straightforward process. The best part? You won’t need to lift a finger! We handle the entire transfer seamlessly, understanding the essential role of a company secretary in your business.

Rest assured, we’ll contact your current secretarial provider, manage all document transfers, and complete the required paperwork on your behalf. Even if your former secretary doesn’t respond, we’ve got you covered. We’ll prepare the necessary removal documents for your signature, ensuring a smooth transition. So sit back and relax, knowing that HeySara confidently manages your corporate secretarial work.