+65 6204 9384

Corporate Secretary

Do you know that under Chapter 50, the Company’s Act, Section 171, all companies incorporated in Singapore must appoint a company secretary? Failure to do so, the Accounting and Corporate Regulatory Authority (ACRA) reserves the right to take action against non-compliant companies.

In Singapore, there are many corporate secretarial service providers. Most of these providers charge fees which cover only the very basic duties and responsibilities of a corporate secretary:

  • Preparation of notices and minutes of annual general meeting
  • Preparation of directors’ resolution for approval and authorisation of accounts

As a new business owner, you would also want to open a bank account for your company. In order to do so, your company secretary needs to prepare a bank resolution to authorise the bank to open an account for your business. Without the bank resolution, no bank will open an account for your company. However, most corporate secretarial providers will charge a fee to prepare this bank resolution.

Similarly, ACRA will require each and every company, at the end of each financial year, to hold annual general meeting (AGM) to present up-to-date financial statements and file up-to-date annual returns. Failure to do so, company directors may face hefty fines, prosecution in court and debarment for directors. The company secretary is responsible for the annual filing of the AGM and annual returns. Unfortunately, most corporate secretarial providers charge a fee for this annual filing to ACRA. Likewise, any additional requests are chargeable too.

Thankfully, at Abel Business Solutions, we offer bundled corporate secretarial services with no hidden charges to ensure that your company complies with ACRA requirements. We also understand that as a newly incorporated company, there will be some changes to the company along the way, such as change in company registered address, or, even change in company name. Our corporate secretarial service includes the following to give you a peace of mind so that you can concentrate on growing your business:

 

Corporate Secretarial Services

Other Corporate Secretary Providers

S$360-650/yr
  • Safe keeping of company seal
  • Automatic reminder of compliance due dates
  • Preparation of Annual General Meeting documents
  • Maintaining of minute books and company registers
  • $60 for filing of annual return with ACRA
  • $30-$250 for each change in company registers
  • $50-$100 for preparing directors resolution for banking matters

Find Out How You Can Benefit!

Fill up your details below to schedule your FREE consultation.