Q& A for Corporate Secretary
Why outsource corporate secretarial services?
Only really big companies need an in-house Corporate Secretary – there is simply not much to do for the officer in a small one. Unless there are constant changes, the Corporate Secretary is only busy preparing for the AGM and filing the Annual Return once a year. If that is your case, outsource these services just like most of the small and medium companies in Singapore.
Can I be a Corporate Secretary myself?
If you’d like to. First, you need to have all the qualifications of a Corporate Secretary plus 5 years of experience. Second, you have to be a Singapore citizen, or a permanent resident, or an EntrePass holder. Finally, you can’t be both the only director and the Corporate Secretary.
I don’t understand what is required of my company.
First, Corporate Secretary tracks changes in your company and reports to ACRA. Whenever you change directors, auditors, secretaries, shareholders, your share capital or the company name they send a notice. Then there are several registers they have to maintain, like the Register of Company Charges or the Register of Controllers. They are in charge of preparing and recording board minutes and annual general meetings, as well as dealing with the official correspondence and the insurance.
What if I already have a corporate secretary? It is probably hard to switch, right?
At Osome, we make the transfer easy. We take over all the documents and registers from your current provider, process the necessary paperwork, and make sure the outgoing Secretary signs the papers. If the former officer doesn’t respond, we will carry out the procedure without him/her. Either way, for you the transition is seamless.