SBS Consulting Explains Why Outsource Company Secretarial Services Singapore

2024-04-15 05:06:38 Business

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?The popularity of outsourced company secretarial services Singapore is on the rise due to the various advantages it has to offer. We are trying to reveal why so many companies are opting to trust a third-party firm with the secretarial function of the company,? says Ms. Meena of SBS Consulting Pte Ltd.

SBS Consulting Pte Ltd is a well-known firm that offers comprehensive corporate secretarial services Singapore to its diverse clients. The firm comes up with a package of incorporation at S$699 where the buyers get free company secretarial services and registered office for first one year. If availed as a standalone service, the fees for secretarial service is just S$299. The firm has been privy to the key reasons why businesses prefer to outsource this service to professional services providers.

Until now, the majority of companies favored to opt for in-house employees especially for the key professionals like company secretary, citing trustworthiness, accountability and accessibility as the prime reasons behind their preference. The fear of losing control over the function also hinders the many companies from taking outsourcing option. Recently, there has been a shift in the actions, thoughts, and behaviors of the businesses. More and more businesses are entrusting their company secretarial services to experienced and highly reliable firm like SBS Consulting Pte Ltd.

?Under the Singapore jurisdiction, appointing a qualified company secretary within six months from the day of incorporation is a mandatory requirement for all private limited company. So, no one could afford to ignore the requirement as non-compliance may delay the process. Although outsourcing was seen as a costlier option, today it is a competitive option (low price). The cost of outsourcing is a fraction of the cost of an employee cost. Above all, the annual compliance requirements of the authorities like ACRA (Accounting & Corporate Regulatory Authority) are ensured,? she stated.

She further added, ?The job of company secretary can be time-consuming, if handled in-house, it may eat up a large chunk of time of your employees. However, outsourcing frees up your employees to focus on core activities of the business. Since our professionals have no such priority other than secretarial duties, we can ensure to offer best and quality services in this field. Above all, the professionals are well versed with the ongoing statutory obligations of the authorities, ensuring to meet compliance requirements of the clients within the specified deadlines. One will get everything related to company secretarial functions under the same roof, starting from corporate governance to legal guidance.?

The following are the corporate secretarial services offered by SBS Consulting

Maintaining Statutory Registers Books and update if any of the following changes take place.

Issue and transfer of shares
Keeping track of debentures of the company
Filing signed board resolutions of Annual General Meetings (AGMs) & other meetings.

Filing to ACRA about All Changes in Compliance Records

Annual Reports
Appointment or resignation of any officer (directors, shareholders, auditors, etc.)
Approval of New Company Name
Changes in Memorandum and Articles of Association

Prepare and Attend Board Meetings

Preparation of meeting agenda with head of the company
Drafting of Director's Circular Resolutions
Taking minutes and maintaining minute books after attending the meetings
Certifying minutes copies
Offering legal advice on Singapore Companies Act

Preparing and convening Annual General Meetings

Distributing financial reports to shareholders
Preparation of Meeting agenda
Attending AGMs and taking minutes of the meetings
Ensuring that the right procedures are followed

Company Seal
Ensuring safety & proper use of the company seal

Sending Alerts & Reminders of Annual Compliance Filing
Letting the clients know about their deadlines for filing compliance requirements by sending regular alerts and reminders.

?Make sure to fulfill the mandatory requirement of appointing company secretary at the time incorporation itself. As stated above, our company incorporation package includes free corporate secretarial services for first year.

Also, our fee for individual corporate secretarial services Singapore is relatively cheap and competitive in the local market. The clients are happy with our high-quality services and informed guidance,? she concluded.

About SBS Consulting Pte Ltd:

SBS Consulting Pte Ltd is an active player in the field of corporate services in Singapore. The firm is renowned for offering unparalleled services in various areas of expertise such as company registration, corporate secretarial, accounting, XBRL, registered address services, payroll, etc. SBS houses a team of professionals (Accountants, lawyers, company secretaries, incorporation specialists, etc.) having rich knowledge and experience in their respective fields.

Contact Info:

SBS Consulting Pte Ltd
Visit: https://www.sbsgroup.com.sg/
Phone: +65-6536 0036
Email: info@sbsgroup.com.sg