Starting a brand-new business is no piece of cake. It takes guts, hours of toil and in-depth knowledge about legal issues and compliance procedures. It does not matter if you are a resident of Singapore or a foreign entrepreneur, setting up shop in this bustling commercial hub requires you to follow certain important guidelines laid down by the authorities. Doing so will also help you explore all the possible avenues of making your business flourish in the country by understanding the country’s taxation and reimbursement regulations.
So how do most young businesses in Singapore manage to do this all on their own? – They don’t! The easiest route is to hire a corporate secretarial services firm.
Still debating whether or not to move your business to Singapore – 7 Reasons to Launch your Company in Singapore: The City’s Thriving Business Culture
Navigating the business environment in Singapore can get overwhelming, but with the help of a local corporate secretarial firm, this job can get way easier. But do you just come to a new country and choose the right agency to partner with? In today’s post let us talk about some points you need to keep in mind when looking for corporate secretarial services in Singapore.
3 Tips to Hire the Right Company Secretarial Services in Singapore: Questions to Ponder Upon
1. Is the firm aware of all rules and regulations related to offering corporate secretarial services in Singapore?
The corporate secretarial firm you hire should be well-aware of business rules and regulations laid down by the Accounting and Corporate Regulatory Authority (ACRA) of Singapore. They should have knowledge of daily updates and guideline changes if any. From filing requirements to booking appointments with the authorities, your secretarial services Singapore partner should be able to walk you through the entire process without any hiccups.
Make sure to ask as many questions about compliance regulations before hiring any firm. Do some prior reading on the internet to cross-check the capabilities of the agency better.
Learn more about business obligations in Singapore – What are the filing requirements for a private limited company in Singapore?
2. Can the corporate secretarial services provider act as your one-stop-shop for everything legal about corporate businesses?
It makes no sense to pay a firm only to help you with finding a corporate secretary. The company secretarial services firm should be able to guide you all the way through your journey as a business in Singapore. Companies that offer secretarial services Singapore should be able to provide a comprehensive portfolio of services that include company incorporation, dissolution, restructuring, and liquidation provisions.
From the moment you set up your business in Singapore and hire a corporate secretary, the corporate secretarial firm should carry out the tasks of keeping statutory records and minutes of every proceeding.
3. Does the corporate secretarial services agency provide personalized assistance?
Not every business is the same. Depending on the industry, your business needs can be greatly different from others. Now, the company providing corporate secretarial services in Singapore should be able to tailor services according to the specific needs of your business. Also, their policies should be such that as a business owner, you only pay for the service you choose.
Secretarial services Singapore is supposed to lower the stress of entrepreneurs and not add to them. Meaning, when you associate with such a firm, remember to judge their capabilities and flexibility to align their services as per your business demands and make sure that the pricing packages are affordable. The key is to figure out the right cost-to-benefit ratio for your business and hire company secretarial services according to that.
2 Benefits of Hiring Company Secretarial Services in Singapore
If you are a foreign entrepreneur looking for setting up your start-up in Singapore, you must have a fair idea of the prominent start-up atmosphere of the country. Everything looks great until you start hiring local people as your employees and answer corporate authorities of the country. This is where it becomes important to hire a local corporate secretary. Let us see how they can help you manage your business better.
- They bridge the gap between you and your local employees
Company secretarial services providers can help your fresh business find the best corporate secretary. Now, this secretary will be a resident of Singapore who can speak the native languages and understand the culture of the country better. Such professionals are generally the best in the business and come with years of experience and great interpersonal skills required locally. This knowledge can help you build a company where your employees feel at home, hence assisting in the growth of your business. Happy employees can directly add to the progress of your company.
2. They help you manage corporate compliance regulations
The right side of the law is the ‘best side’ for your business. Especially if you are not a Singapore resident, hiring a corporate secretary can unburden a load of corporate compliance rules from your shoulders. This job is now performed by the secretary provided to you by the corporate secretarial services firm in Singapore.
You can blissfully focus on growing your business while the secretary takes care of rules and other legal corporate procedures. Corporate secretarial services in Singapore provide personnel who are well-versed in Singapore corporate laws and can hence help you maintain healthy business growth.
Company Secretarial Services in Singapore – The Bottomline
Businesses are flourishing in the tiny little country of Singapore. The welcome atmosphere and cutting-edge infrastructure of the city make it a promising business destination for young entrepreneurs. If you are moving to this dynamic place to grow and scale your business, it is always a great idea to hire local firms that provide corporate secretarial services and company incorporation services in Singapore to ensure that your business can settle down in the country in a hassle-free manner.
Read more about businesses in Singapore here – Singapore vs Hong Kong: Where should you open your company?