Secretary Services

Share Allotment A private limited company in Singapore is limited in terms of shares when it is registered. The shares of each shareholder of the company are calculated according to the number of shares held by each person and how much each share is worth. At different times, the shares of different investors may have different nominal values. This shareholding structure facilitates later changes in the company such as the issuance of additional shares, transfers, premiums, etc. When the company needs to issue additional equity shares, it first needs to pass a board resolution to decide how many new shares […]

Strike Off Company If a company in Singapore decides to cease doing business, it can apply to the Accounting and Corporate Regulatory Authority of Singapore (ACRA) to have its name removed from the Companies Register, a process known as “striking off”. Firstly, the company should pay unpaid taxes. For a company to successfully apply for cancellation of the company with ACRA, the company must not owe any tax liabilities and obligations to the Inland Revenue Authority of Singapore (IRAS), otherwise, the IRAS will oppose the company’s cancellation application. Therefore, a company must ensure that all outstanding tax obligations and liabilities […]

Business Secretary To run a company, in addition to a statutory secretary, you may need a commercial secretary. Singapore company business secretarial services include. Company mail collection and forwarding (customer bears postage costs) Assist clients in reviewing and processing incoming correspondence in English (with client authorization) **Authorization and disclaimer letters are required to process said correspondence. Customer parcel forwarding (customer bears the postage costs) Call forwarding, SMS, WeChat, email alert service Receiving of customers in the office General company operations consulting    

What is a Statutory Secretary? When you register a company in Singapore, you need a statutory secretary. All companies registered in Singapore are required to have a company secretary who is a resident of Singapore. It is the responsibility of the company’s board of directors to appoint a qualified company secretary, and determine their salary package.   The position of Statutory Secretary of the Company may only be vacated in the event of the Secretary’s death, resignation or dismissal by decision of the directors. In the event that this happens, it is important that the position be filled within six […]

Update Company Info It is the responsibility of the company’s directors to ensure that the company’s information is correct and up-to-date. In the event of any updates to the company’s information, directors should notify the company’s statutory secretary to submit these changes to the Accounting and Corporate Regulatory Authority of Singapore (ACRA). In the event of any changes to the following information of a company, the company must report the change to ACRA via Bizfile+ within 14 days. Main Business of Singapore Company Singapore Company Domicile Business hours Register of company members Appointment or removal of members and auditors of […]

Director Resolution As the director of a Singaporean company, you must hold a board meeting if you need to discuss and pass resolutions on matters relating to the current and future state of the company. FOZL Singapore has summarised tips on how to conduct a board meeting below for your reference. The objective of the Board A board meeting is a meeting of a company’s board of directors at which the directors discuss company business and pass resolutions to make decisions about the company. Such business may include. Business expansion plans Property acquisition Review of financial reports Recruitment of talents […]

Duty of Statutory Secretary Like any other director in the company, the statutory secretary is the officer in the company and under the Companies Act, the secretary is required to do the following: Maximize the company’s profits Avoid conflicts of interest Be responsible and conscientious in their work Not obtain illegal benefits for the company through private transactions. In smaller companies, the company secretary is usually responsible for administrative duties such as recording and registering company documents and financial filings. In larger companies, the company secretary is responsible for a wider range of administrative tasks, such as ensuring that the […]