There are several businesses that are located in Singapore. These businesses have been here for a long period of time which is why Singapore is also one of the strongest economies. These businesses from different industries have served as the support of the Singapore economy. They kept the Singapore economy alive and running. These businesses have also made Singapore one of the most competitive countries when it comes to economic situations all over the world. This is because Singapore has one of the most convenient and pro-business policies relative to other countries. It was named as the most open market economy in the world for the year 2020. Singapore has the most supportive and easiest policies and regulations when it comes to business transactions.
It may have the easiest policies and regulations when it comes to business matters, however, these policies are strictly implemented and followed. The failure of complying with these laws can result in consequences. It may result in the suspension of your license to operate, huge amounts of fines, or even jail time. To ensure the smooth operation and high-level competitiveness of the Singapore economy these policies are strictly observed.
One of these policies is the presence of a corporate secretary in every company in Singapore. It is required within six months after the company incorporation Singapore procedure. Some experts advise that they should be hired even before the company incorporation Singapore process is done to get them familiar with the company systems immediately.
However, some corporations still don’t grasp the idea of having a corporate secretary. In this article, let us talk about some misconceptions about the corporate secretarial services Singapore firms and the secretary themselves.
1. Anyone can be a secretary
Every company is required to hire a company secretary after the company incorporation Singapore process. It can be directly hired or through a corporate secretarial services Singapore firm. It is a legally mandated step by the Singaporean government. The government acknowledges the importance of these secretaries. However, one mistake that companies often make is hiring incompetent and untrained individuals. This is because they think that the position can be fulfilled just by anyone.
However, a corporate secretarial services Singapore position requires a highly-trained individual to be fulfilled accordingly. Anyone who is undertrained would not be able to do this job properly. They can also be hired even if the company incorporation Singapore procedure is still ongoing to make them familiar and immersed in the company as soon as possible.
2. They are just administrative staff
Related to the misconception above, a corporate secretary is often viewed as someone who is just concerned about the administrative jobs in the company. However, corporate secretarial services Singapore firms take their time to train and teach their employees for them to be able to fulfill more roles beyond the usual paperwork. They are valuable to the company in more ways than being administrative personnel. A Corporate secretary works go beyond the usual paperwork. Corporate secretaries are also required to take over the important matters in the company.
3. It is required to hire them
Contrary to popular belief, corporate secretarial services Singapore personnel is not just needed because it is required. Some countries do not require them. Some companies still hire a company secretary because they have many benefits and perks. They make the company intact and make sure that they are on the right track. Some companies hire a company secretary even if the company incorporation in Singapore is not yet done. They help the company get on its feet and start as soon as possible. Hire a corporate secretarial services Singapore staff, you would be able to realize the many benefits it brings to a company.
4. Hiring a corporate secretarial services Singapore firm is expensive
In Singapore, there are third-party firms like corporate secretarial services Singapore companies that aim to provide these kinds of services. They offer the service of a corporate secretary that is already trained and knows how to do it. However, some companies think that hiring these companies for services like company incorporation Singapore procedure and hiring some staff is expensive. Forever hiring corporate secretarial services Singapore companies is more cost-effective than training your own secretary.
Hire one now
You can hire a third-party firm even during the company incorporation Singapore process. This way it is more convenient for you to start the operations of your company. WLP Group is a trusted firm when it comes to hiring these kinds of personnel and staff. Visit us today to know more about our services.