Choosing the Perfect Corporate Secretary Partner: Essential Tips for Business Owners
A Corporate Secretary is vital to your company’s corporate governance and compliance. Also referred to as a Company Secretary, CorpSec or CoSec, it ensures your company complies with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) requirements. The role also ensures all directors and shareholders are informed of their statutory obligations such as filing annual returns.
Companies cannot legally operate in Singapore without a Corporate Secretary and many choose to outsource the role for cost and time efficiency reasons. There are dozens of CoSec service providers to choose from, but the quality of service can vary tremendously.
Newcomers to Singapore’s business environment often wonder - how can I know if a Corporate Secretary partner is a fit for me? What factors should I pay attention to as I evaluate different providers? We have put together a checklist of the essentials that matter most to clients.
How to Choose the Right Corporate Secretary Partner
To find the ideal Corporate Secretary partner, consider the following checklist as you make your decision:
Response Times: Prompt communication is a key indicator of their commitment to supporting your business. Monitor how quickly they acknowledge and address your inquiries.
Language Simplicity: Clear and concise communication is paramount to avoid misunderstandings. Do they explain complex processes and regulations using clear and simple terms? Also, assess how clearly and effectively they explain requirements upfront and present their outlook for your business.
Pricing: Ensure transparency by asking questions to uncover any hidden costs or fees. Opt for partners with flat rates per service, and consider additional charges only if they add tangible value to your business.
Experience: You want a partner with a minimum of three to five years in operation. Singapore's unique requirements may make finding such expertise challenging, but working with a reputable firm like Accela Finance can be an excellent option.
Proactivity: Your Corporate Secretary partner should be “driving the bus.” You should feel they are moving things forward while keeping your future workforce needs in mind. Evaluate how well they align decisions with your business goals.
Humanised Service and Passion: Choose a partner who offers a personalised touch and demonstrates a genuine passion for assisting customers. Dealing with real people who enjoy what they do fosters a comfortable and reliable working relationship.
Electronic/Digitalised Service: A technology-driven approach streamlines operations and saves time. While some processes may still require manual signatures, the majority should occur digitally via portals and notification emails.
Why Accela Finance?
Accela Finance is recognised as one of the best corporate secretary services in Singapore. As described by the popular review website Best in Singapore, Accela Finance is “a highly flexible firm boasting a diverse team whose experience allows them to meet the needs of clients from different industries. They’re also capable of working with small, local businesses and large-scale multinational companies.”
We understand the intricacies of Corporate Secretary services across all industries and business sizes. Through our client-centred approach, we recognise that every business has unique requirements and pride ourselves on providing tailored solutions rather than a "one size fits all" approach.
Contact us today for more information or to schedule a consultation: [email protected]