Am I required to appoint a Company Secretary?
Yes. All Singapore incorporated companies are mandated to employ a Company Secretary in compliance with Section 171 of Singapore Companies Act.
When should I appoint a Company Secretary?
According to the Singapore Companies Act, a qualified company secretary must be appointed by the company director within the period of 6 months after the company’s incorporation.
What are the roles and responsibilities of a company secretary?
The company secretary is considered as one of the stakeholders of a company. The main role of a company secretary is to ensure that all of the company records are properly maintained and see to it that the company remains compliant to statutory requirements. The company secretary is also responsible for preparing the Annual General Meeting’s minutes, assist in filing changes in company’s particulars with ACRA, and other compliance matters indicated under the Companies Act.
Who can act as a company secretary?
According to the Companies Act, the Company Secretary must be appointed within 6 months of a company’s incorporation. The Company Secretary must be a natural person, a local resident in Singapore, and must have at least one of the following qualifications:
• At least 3 of the 5 years of secretarial experience immediately before his appointment as secretary of the public company
• Qualified person under the Legal Profession Act, Cap. 161
• Public accountant registered under the Accountants Act, Cap. 2
• Member of the Institute of Certified Public Accountants of Singapore
• Member of the Singapore Association of the Institute of Chartered Secretaries and Administrators
• Member of the Association of International Accountants in Singapore
• Member of the Institute of Company Accountants, Singapore
Take note that a sole company director cannot take on the role of a Company Secretary.
What is the scope of your Corporate Secretarial Services?
The scope of our secretarial services are as follows:
• Acting as named Company Secretary;
• Providing general advice and assistance on routine company secretarial matters;
• Advising client of their Annual General Meeting date;
• Preparing notices, agendas, and minutes of the company’s Annual General Meeting;
• Ensuring compliance under the Companies Act on all notifications, changes and annual return which are statutorily required to be filed with ACRA through its one-stop business services portal, Bizfile;
• Properly maintaining the Statutory Registers and Minute Books as required under the Companies’ Act.
What is an Annual General Meeting (AGM)?
The Annual General Meeting or AGM is an annual meeting attended by stakeholders of the company. During the AGM, the company director is required to present the company’s accounts which should reflect the true and accurate financial standing of the company.
What are the qualifications of a company director in Singapore?
The company director must be aged 18 and above. The company director must not have any record of malpractice, fraud or bankruptcy. For private limited companies in Singapore, there must be at least one company director who is ordinarily resident in Singapore. Singapore citizens, permanent residents, EntrePass holders and Employment Pass holders are considered individuals who are ordinarily residents in Singapore.
What is a local Nominee Director?
A local company director is one of the requirements for company incorporation in Singapore. Foreign individuals and entities that encounter difficulties in appointing a local company director may engage nominee director services in order to satisfy the statutory requirement.
Richmond provides Nominee Director Services to help you fulfill the company incorporation requirements. The appointment will be subject to the result of our Know-Your-Client due diligence.
What is an Employment Pass?
The Employment Pass or EP is a kind of pass that permits foreign professionals who are handling executive, managerial or specialised professions to work in Singapore. This also allows foreign business owners to personally manage their business in Singapore. Employment Pass holders may work and live in Singapore, travel with ease in and out of the city-state and even apply for Dependant’s Pass or Long Term Visit pass for family members.
Can I apply for an Employment Pass before my company incorporation in Singapore?
No. If you intend to relocate to Singapore to manage your business personally, you must first register your business with ACRA and subsequently apply for an Employment Pass under the company name.
We have skilled specialists who can assist in you in your EP application with the Ministry of Manpower.
Can individuals personally register their branch office in Singapore?
No, foreign individuals are not allowed to register their company’s branch office personally. The branch office registration can only be carried out by a professional services company.
Do I need a registered office address?
Yes, it is one of the main requirements for Singapore company incorporation.
What are the requirements for a registered office address?
Each company registered in Singapore must have a registered office address. The registered office address must be a physical address that is accessible to the public during normal work hours. Hence, a PO Box cannot be considered a valid business address.
An HDB flat or residential address may be used as the business’ registered address under the Home Office (HO) Scheme.
What is the scope of your registered office address services
Our registered office address service includes the receipt and collection of all business correspondences on your behalf. You may also use the address in your company stamps, business cards, letterheads, and other corporate correspondences. This will help exude prominence as the registered address is in the CBD.
At your request, the mail could be couriered to you once a month for a minimum handling fee of S$12.