Section 171 of the Companies Act in Singapore, requires each Singapore registered company to appoint a company secretary into office so as to be compliant with the basic regulatory requirements.
This company secretary is not the admin type of office secretary or personal assistant. It’s not replaceable by chat-bots or just put anyone’s name. The office of company secretary shall not be left vacant for more than 6 months at any one time.
Private limited companies need not appoint chartered accountants or lawyers as their company secretary but as the director of your company, you are required to ensure that this appointee who must be either a Singapore citizen or permanent resident; would have the requisite experience and knowledge of corporate compliance to assist and advise you.
In your best interests, it better not be just a “person on the street” who agrees to be named as the company secretary. We routinely enjoy many new clients switching to us from those “shops” or “agents” who provide just a “named” secretary whom the directors usually never meet, and if they do, often turns out to be rather clueless on the many questions that you will have! One without the necessary experience, will not know how to guide you on the AGM and resolutions, or provide crucial timely advice on company matters.
As a director, you cannot afford shortcuts and get wrongly advised by inexperienced individuals who are more concerned about selling you packages or promises of lock-ins and all kinds of gimmicks.
We’re often told that these will rush your questions and often never addresss them properly.
MODETTI® is a Professional Bureau Singapore. We are popular with all types of companies as our fees are affordable and we provide genuine answers and advice.
Under this service, our professional fees are inclusive of:
• Preparation of 1st Board of Directors’ meeting,
• Professional referral for opening company bank accounts,
• Advice via email on company related processes, CorpPass, CPF, passes and changes,
• Preparation, drafting of not more than 1 directors resolutions of the company,
• Monitor and remind you of yearly compliance deadlines, processes and schedules,
• Advise you closely on timing of financial year considering revenues at stages,
• Preparation, drafting of agenda and convening of 1x Annual General Meeting (AGM),
• Filing of 1x Annual Returns (AR) with ACRA via BizFile (Bizfile fees included),
• Issuance of new Share Certificates and MAA (at separate costs),
• Maintenance of the statutory registers and signed documents within tenure,
• Safekeep the company seal (if entrusted) under lock and key per Companies Act.
Our appointee is a senior officer of the company, and already a practising Company Secretary in many other Singapore companies.
This service is especially suited for new startups and existing companies wishing to operate and enjoy genuine professional advice within the basic and most affordable budgets.