Do you really need secretarial services?
Setting up a company in Singapore is more about choosing a name and identifying your business niche. You have to have a company secretary within 6 months from the date of the company incorporation. The law, under section 171 of the Company Act, requires this. If you are running a business in Singapore, you need to have a designated helper. But will this not eat up all your money? Not necessarily. If you hire Singapore secretarial services, you do not have to worry about costs. Of course, secretarial services are not for free, but it is nothing like paying a full-time employee. In this article, we will discuss more about this subject.
What are secretarial services?
Every business is supposed to have a group of people that provide secretarial services. A secretary is not a person that handle typing. The person performs tasks like answering phone calls, company emails, and balancing company accounts. Companies providing secretarial services in Singapore do more than that. Their administrative assistants prepare the minutes of the meeting, offer consultations regarding the accounts and Company Acts compliance prepare bank resolutions, monitor the annual return and the IRAS, issue certificates that need to be signed by the director. The list does not end here.
Is all this important?
Making sure that you are meet legal requirements is essential. Every action your business takes has to be taken conforming to the applicable legislation. Even the tiniest mistake will make your incorporation submission invalid. Without a secretary, it will not be easy for you to go on with your business plans, let alone make profit. Spare yourself the trouble of trying to figure out what to do and hire secretarial services.
Benefits of hiring professional secretary services
One benefit of hiring secretarial services is that you do not have to spend your cash on internal training sessions. The administrative assistants know the correct and successful way to do things in Singapore. There is no need for training sessions. The secretaries know the ins and outs of corporate entities, like limited liability partnerships or public limited companies. Another benefit of hiring secretarial services is that the service delivery is fast and efficient. This means that you do not have to wait for the tasks to get done. The administrative assistants have years of experience handling documents and accounting.
How much do secretarial services cost?
You are probably curious to know how much secretarial services cost. Well, you can expect to pay about $500 a year. Some private firms charge even less than that. As stated previously, this is small compared to the amount of money you would have to pay a full-time employee.
By contracting private firms for secretarial services, you can avoid trouble, not to mention the expenses associated with paying an employee. With the advent of the internet, secretarial services are provided from remote locations. All you have to do is contact the service via email or telephone. You receive updated knowledge about your records and you are told what to do next.