Building a business in Singapore is a great thing. Until you have to deal with all the rules and regulations. For people who start businesses company secretarial services are not a priority until they miss a deadline and get in trouble. What starts as a mistake can become a very expensive lesson in why company secretarial services are important from the very beginning. Discover more!

A lot of business owners do not understand the role of a company secretary. They think it is an administrative job but it is not. A company secretary makes sure your company is following all the rules and is legally sound. They take care of all the things that you have to do so that your business does not get in trouble.

In Singapore the law is very clear. Every private limited company has to have a company secretary within six months of starting the business. If you miss this deadline the Accounting and Corporate Regulatory Authority or ACRA will take note of it. At first the penalties might not seem like a lot. They can add up and the problems that come from not following the rules can come up at important times. Like when you are meeting with investors or applying for a loan or going through due diligence. And that is when you need to have all your records in order.

The daily tasks of a company secretary are more important than most business owners think. They have to keep track of all the companys records and make sure that all the board resolutions are written correctly. They also have to file the returns on time and take care of all the other things that the directors and officers have to do. If any of these things are not done it can create a lot of problems that can be hard to fix as the business grows.

A lot of business owners try to handle all the rules and regulations by themselves. They want to save money. It seems like it is not that hard to do.. As the business gets bigger it gets harder to do everything yourself and that is when the problems start to come up.

In Singapore you can hire a company to take care of all the services for you. They will take care of all the records. File all the necessary papers with ACRA and make sure that you are following all the rules. It usually costs around SGD $300-500 per year for a business. It is worth paying a little more for a company that will always answer your questions and help you when you need it.