Under Section 171 of the Singapore Company’s Act (Cap. 50), every company must appoint a Company Secretary within six months from the date of its incorporation.
A Company Secretary is the backbone of all administrative and compliance-related functions in the company. The person is in charge of administrative and reporting responsibilities, such as establishing and maintaining the company’s records and assisting the company director(s) in ensuring that the company's records comply with all regulatory requirements on a timely basis. These include (but not limited to):
The Company Secretary plays a vital role in a company, particularly with regards to statutory compliance, and may be held liable for the company's failure to comply with the law in certain situations. He is also the key personnel in communicating important information about the company to its shareholders.
A Company Secretary is an ordinarily resident in Singapore. By that, it means that his usual place of residence is in Singapore. A Singapore citizen, PR or an EntrePass holder is an ordinarily resident. Additionally, the person must satisfy at least one of the following criteria:
The Company Secretary plays a crucial role in a company, and the person must have the expertise and in-depth knowledge of the statutory requirements in Singapore. Appointing the wrong person may lead to negative implications for the company. VOPlus has been offering Company Secretary service for many years, helping hundreds of companies comply with all regulations timely and effectively. Contact us today for a consultation!