There are many existing businesses in the busy economy of Singapore. This is because it is considered one of the best places when it comes to all kinds of business transactions. These easy business transactions are made possible by the existing policies and regulations that are being implemented in Singapore. They are considered to have one of the most open-market economies in the globe. That makes them a go-to country for business from all kinds of industries. They are welcoming of not just big companies but also small ones. These laws and regulations make it easy for these business entities to start or expand their business ventures in Singapore.
Singapore has one of the most comprehensive and detailed policies from the company incorporation Singapore procedure to the operations. This is to set proper guidelines and maintain an organized economy. This is also the reason why it remains one of the top economies in the world. These policies are being strictly observed and followed to ensure that they are effective. One of the most important rules that you have to follow is hiring a corporate secretary Singapore staff. This is written in the Companies Act because the Singaporean government acknowledges the importance of having one. This can be hired before, during, or within 6 months after the company incorporation Singapore process. This time frame is given to ensure that all important roles of a corporate secretary Singapore employee can be fulfilled well.
There are many roles that are being fulfilled by the corporate secretary Singapore employee. One of those things is to ensure that all necessary documents are well-organized and maintained. Although their job is not just limited to administrative ones, these kinds of workload are vital to the success of the company. Even the documents for the company incorporation Singapore process are being kept and tracked by the secretary. So, to know more, here are 4 important documents that a corporate secretary Singapore staff is required to maintain.
#1 Minute book and statutory register book
These two documents serve as the blueprint of the company as they contain the most important details about the company systems. The minute book basically contains all the transactions and activities that have happened from the company incorporation Singapore procedure to the operations. This is recorded on a daily basis to ensure that all transactions, big or small, are being recorded properly. This is important because it may be needed in the future for legal and planning purposes. That is why the expertise of a corporate secretary Singapore employee is needed to ensure that this is being recorded well.
While the statutory register includes the details about the directors, board members, and shareholders of the company. This is a confidential document that is also important to the operations of the company. This is a record that shows which individuals hold power or control over the business. These kinds of things should be managed even before the company incorporation Singapore procedure is done since it is vital to the operations.
#2 Annual reports and accounts
The annual report is generated after the annual general meeting held by the company. This is a report that contains the progress and other necessary details about the company operations. The Singaporean government requires every company to submit this document that is why it is important that a corporate secretary Singapore staff can fulfill his or her duty well to avoid complications.
#3 Company seal
Another important document that a corporate secretary Singapore staff must keep is the company seal. This is important because only documents with this seal are acknowledged as true and legitimate by the Singaporean government. This seal is acquired during the company incorporation Singapore procedure. It is important that this seal is unique to be able to differentiate one company from another. The corporate secretary Singapore employee is the one required to safeguard the company seal and have it ready when needed.
#4 Reviewing developments in corporate governance
Lastly, another important role of the corporate secretary Singapore staff is to make sure that the company is complying with all existing regulations that have legal jurisdiction over their business entity. The laws and regulations in Singapore when it comes to business transactions are always changing. These changes are necessary to be able to adapt to the changing business environment as well. One of the few things that are constant is the company incorporation Singapore process requirements. While everything else changes once in a while. The role of the corporate secretary Singapore professional is to make sure that these new laws and regulations are met and the necessary documents for these are submitted.
Hiring a secretary may be a daunting task especially for busy companies. That is why there are many service providers that can help you hire a competent secretary. WLP Group is a trusted and reliable servicing firm that can make things easier. Hire us today to get you started.