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Statutory Requirements of a Subsidiary Company

ByDave Stopher

Oct 25, 2018

It requires plenty of courage as well as an immaculate business strategy to run a business successfully at present. In fact, several challenges can throw you off-track in this hectic business world. Consequently, it will be imperative to explore every available way and go for the best that will help you to manage your business properly. Amongst the most effective routes, taking the assistance of a corporate secretary service deserves special mention. In the following paragraphs, we will throw some light on the essential factors to take into account while employing a corporate secretarial service.

1. Competency

It will not be prudent on your part to employ any random company for performing one of the most critical tasks when it comes to your business. In fact, all well established Singapore corporate Secretarial services must consist of an efficient team, which will be able to tackle the legal compliance of your business provided you are running it in Singapore. Do not forget to verify the qualifications as well as the experiences of their experts prior to appointing them. The secretary will be accountable for being unable to comply with the lawsuit in case the authority does not receive any yearly filing or report of the particular business. Thus, the experts of the corporate secretary company should be endowed with proper knowledge as well as experience in the local jurisdiction. According to the law, only one resident of a specific area or an Employment pass holder will be eligible to become the company secretary of your business within the local jurisdiction.

2. Verify whether the service provider offers an in-depth portfolio of the secretarial services

Apart from making sure that all the regulatory requirements have been satisfied, the corporate secretary service firm must likewise be extremely knowledgeable in all types of administrative activities consisting of incorporation, corporate governance, dissolution, liquidation, as well as restructuring, and should be capable of dealing with these effects. A local firm providing all these facilities will definitely be an advantage for any company out there. You’ll come across corporate secretarial services out there which function as a one-stop shop for every single corporate secretarial requirement of your company starting from the maintenance of salutary records to forming local as well as offshore entities.

3. Ensure that you receive more value for your cash

Employing a company secretarial service in your workplace can become more affordable when the firm provides you with something more than simply the basic corporate secretarial services. You’ll come across companies offering additional services that aid in running your business more effectively. There are several professional service providers that offer personalized services providing customized solutions exclusively to your business requirements.

4. Verify whether it is aware of the rules and regulations

Ensure that the corporate secretarial service employed by your company strictly abides by all the regulations and rules declared by your state, especially those which have been already modified or extended. In fact, that particular firm hired by you ought to be aware of virtually everything ranging from satisfying the requirements of other compliances to filing schedules and requirements as well.

5. Whether they provide consulting services as well

It’ll be a bonus for your company in case the company secretarial service hired by you also offers guidance or consulting services for their customers. In fact, you can always expect them to assist you with pertinent advice, information, guidance, as well as suggestions that will help to enhance corporate governance within your business significantly.

6. Scalability

The outsourced corporate secretarial services in your place must be flexible as well as scalable in different ways so that it is possible to satisfy the legal compliance within the stipulated deadlines. As a matter of fact, the responsibilities of any company secretary vary a lot. The firm should make sure to provide all these services with efficacy. Moreover, your service provider must also know how to maintain timeliness.

 

These are all the key factors that you will need to take into account while choosing the appropriate company secretarial service for your business. You’ll come across lots of corporate secretarial services available at present. However, you need to devote some significant amount of time to do research and then opt for the one that is not only trustworthy but also experienced as well. For this, you can likewise consider looking at the online reviews of these companies regarding the opinions of other users who have employed them in the past. Otherwise, you may also take the recommendations of your known persons, including your buddies as well as close relatives.