Corporate Secretary Services Tailored for Business Success
Don’t let business accounting hold you back.
At First Legacy, we handle your accounting with precision and care, leaving you free to focus on running your business.
Start your professional corporate secretary services from only $25/month! (Lowest price in the market)
Why First Legacy?
Keeping you compliant
We will ensure all your statutory registers are updated and maintained, keeping your business fully compliant with authorities as it grows.
Services that scale with you
Your success is our priority. We provide reliable and scalable services, allowing you to focus on what matters most while we exceed your expectations.
Trusted experts at your service
Access to a skilled corporate secretary and tailored advice from day one. Easily contact them through live chat and get a response within 24 hours.
Quality Service
Highly experienced accountants with in-depth industry knowledge
The Cheapest & Effective Corporate Secretary packages
Basic
(billed annually)
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Named Company Secretary for 1 year
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Preparation and filing of Annual Return, including S$60 government fee
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Holding Annual General Meeting
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Maintenance of Registers Book
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General advisory on compliance requirements
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Reminder via email and text
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Premium
(billed annually)
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Named Company Secretary For 1 Year
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Preparation And Filing Of Annual Return, Including S$60 Government Fee
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Holding Annual General Meeting
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Maintenance Of Registers Book
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General Advisory On Compliance Requirements
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Reminder Via Email And Text
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Unlimited Drafting Of Director's Resolutions With No Additional Fees
FAQs
What is a Corporate Secretary and secretaryship?
The Corporate Secretary plays a crucial role in maintaining a company’s legal and regulatory compliance. Key responsibilities include ensuring accurate company records, reporting statutory changes, and timely filing of returns. This essential role, mandated for all Singapore companies, demands meticulous attention to detail, adherence to legal requirements, and the necessary certifications
How much does a Company Secretary cost in Singapore?
Our price is from S$20/month for basic plan and S$40/month for premium plan. It’s a much more affordable alternative to hiring an in-house company secretary and is competitive with other Singapore firms that offer company secretarial services.
How to change your company secretary to First Legacy
Changing company secretaries is common, especially when seeking reliable assistance with company filings. Fortunately, the transition to First Legacy is seamless and can be completed entirely online.
Our team will liaise with your old company secretary
After signing up, please share with us the name and contact details for your previous Company Secretary and we will arrange for their resignation and the collection of your company statutory records.
Completeness check on your records
Our compliance team will review your company records to ensure completeness. Following successful Know-Your-Customer (KYC) checks, we will prepare and file the necessary documentation to appoint First Legacy as your new Corporate Secretary.
We will handle from here
As part of the handover from your previous company secretary, we’ll organise the following:
> A directors’ resolution appointing the new company secretary and resignation of the previous company secretary
> Form 45B which notes the company secretary’s consent to act for your company
> Lodging the change with ACRA
Please note: If any additional work to bring your entity up to compliance may be deemed necessary during the transfer process, our team will inform you of the remediation process required and our fee quote for any matters that may fall outside of our standard Corporate Secretary package.
Why do I need a Company Secretary?
Singapore Company Law requires every company to appoint a corporate secretary. The appointment of a company secretary in Singapore is essential for reporting on statutory changes to company details, handling important admin and helping you understand your obligations as a business owner.
What is the role of a Company Secretary in Singapore?
A company secretary plays an important role in corporate governance:
- Creates the documentation for your AGM
- Ensures your Annual Returns are accurate and filed on time
- Supports you in completing all corporate actions, including changing a director or shareholder, transferring shares and updating company details
Can a Singapore company operate without a secretary?
No. ACRA mandates that every Singapore business must hire a corporate secretary within the first six months after incorporation. This position cannot be vacant for more than six months. Your company secretary must be a Singapore resident.
Does a small company need a Company Secretary?
Yes. All companies in Singapore must have a corporate secretary. Only very large companies require an in-house company secretary, so it makes sense for small businesses to outsource their corporate secretarial service from a company like Osome.
What is the difference between a Company Secretary and a Corporate Secretary?
The terms company secretary and corporate secretary are interchangeable and mean the same thing in Singapore. Whatever the title, they play an integral role in the efficient management of a company through compliance with the law.
Who can hold the position of a company secretary?
A company secretary must be a Singaporean local and an official resident of Singapore. They must be of legal age and a member of a prescribed professional body, such as the Institute of Singapore Chartered Accountants or the Singapore Association of the Institute of Chartered Secretaries and Administrators.
How do I change my company secretary in Singapore?
To change your company secretary in Singapore, you’ll need to engage corporate secretarial services. This involves appointing a new company secretary who meets the necessary qualifications and notifying the relevant authorities, such as ACRA, of the change. Additionally, you may need to update your company’s records and inform shareholders and other stakeholders of the change. It’s essential to follow the proper procedures and documentation requirements outlined by ACRA to ensure a smooth transition.
What is AGM, and what to expect?
An Annual General Meeting (AGM) is a mandatory yearly gathering of a company’s shareholders. During the AGM, directors present an annual report outlining the company’s performance and strategies. Shareholders with voting rights then vote on key matters, such as board appointments, executive compensation, dividend payments, and the selection of auditors.
Why does a company need to hold an AGM?
“The Annual General Meeting (AGM) serves as a crucial platform for companies to enhance transparency and engage with stakeholders.
Information Dissemination: AGMs provide a crucial avenue for companies to share vital information with shareholders, including financial reports, audit results, and strategic updates.
Informed Decision-Making: By attending the AGM and reviewing the company’s performance, shareholders gain valuable insights, enabling them to make more informed investment and engagement decisions.
Legal Compliance: Holding an AGM is a legal requirement for most companies, encompassing the presentation and approval of audited accounts and the resolution of other pending matters.
Discussion Forum: AGMs offer a valuable forum for discussing critical issues, including director compensation, future company plans, and addressing shareholder concerns.
Leadership and Oversight: The AGM is chaired by the company’s chairperson, who provides an overview of the company’s performance and guides the meeting proceedings.
Encouraging Active Participation: Shareholders are encouraged to actively participate in AGMs by thoroughly reviewing the company’s annual report beforehand. This informed engagement fosters meaningful discussions and contributes to better decision-making.
Mutual Benefits: When effectively conducted, AGMs benefit both the company and its stakeholders by fostering transparency, accountability, and a deeper understanding of the company’s direction.”
Is AGM compulsory?
“The Annual General Meeting (AGM) is a mandatory yearly gathering for all Singaporean companies, as stipulated by the Companies Act.
Key Objectives: AGMs serve to discuss crucial matters such as company account reviews, audited financial statements, director elections, and the company’s performance over the past year.
Legal Compliance: The Companies Act mandates that every company hold an AGM annually.
Frequency: Importantly, the interval between two consecutive AGMs cannot exceed 15 months.”
How can your company get exempted from holding an AGM?
While AGMs are mandatory for most Singaporean companies, there are certain exemptions.
Exemption for Private Companies: Private companies can be exempt from holding an AGM if they fulfill the following conditions:
Financial Statement Distribution: They must distribute their financial statements to all shareholders within five months after their financial year-end.
Safeguards: Shareholders can request an AGM by notifying the company at least fourteen days before the end of the sixth month following the financial year-end.
If a shareholder requests an AGM, directors must convene one within six months of the financial year-end. They can seek an extension from the Registrar if needed.
A general meeting must be held to present financial statements if requested by a member or auditor within 14 days of their distribution.
Exemption for Dormant Relevant Companies:
Eligibility: Private dormant relevant companies that meet specific criteria are exempt from holding AGMs.
Criteria: Dormant or not listed (or a subsidiary of a listed company).
Total assets (consolidated, if applicable) do not exceed S$500,000.
Note: This exemption is subject to the same safeguards as mentioned above for private companies. These exemptions aim to reduce the administrative burden for certain types of companies while maintaining a degree of accountability and shareholder rights.”
Dispensing with AGMs
Private companies can choose to forgo holding an AGM if all shareholders agree to pass a resolution to this effect.
Matters typically discussed at an AGM can be addressed through written resolutions circulated among shareholders via hard copies or electronic means (e.g., emails).
Shareholder Right to Request AGM:
Even if a company is exempt from holding an AGM or has chosen to dispense with it, any shareholder can request an AGM.
This request must be made in writing to the company at least 14 days before the end of the sixth month following the financial year-end.
Upon receiving such a request, the directors must convene an AGM within six months of the financial year-end.
Key Points:
Flexibility: Private companies have the option to dispense with AGMs if all shareholders agree.
Shareholder Rights: Shareholders retain the right to request an AGM even if the company is exempt or has chosen to dispense with it.
Compliance with Legal Requirements: Companies must comply with the stipulated timelines and procedures for holding or dispensing with AGMs.”
When should you hold an AGM?
“(a) Timeline 1: Hold first AGM within 18 months of incorporation, and subsequent AGMs yearly at intervals of not more than 15 months
For listed companies: Hold AGM within 4 months after FYE
(b) Timeline 2: Financial statements tabled at AGM must be made up to a date within 4 months (for the listed company) or 6 months (for any other company) before the AGM date.
For any other company: Hold AGM within 6 months after FYE”
How do you hold an AGM?
AGMs are formal meetings where companies present their financial performance to shareholders.
Key Features:
Information Sharing: Financial statements, audit reports, and other key information are presented and discussed.
Chairmanship: The meeting is typically chaired by the board chairman, or another member elected by the attendees.
Secretarial Support: The company secretary or a designated secretarial service is responsible for preparing the necessary documentation.
Procedural Requirements:
Only resolutions included in the AGM notice can be discussed.
A quorum of shareholders must be present.
Proxy votes, if applicable, must be properly appointed and considered.
Documentation: Essential documents, including financial statements, balance sheets, the director’s report, and the auditor’s report (if applicable), must be made available.
Voting Procedures: Proper voting procedures must be followed to ensure fair and accurate resolution outcomes.
Minutes of Meeting: Detailed written minutes of the meeting must be recorded and signed by the appointed chairman.
What if my company is dormant?
“Even if a company is considered “”dormant,”” it still has certain statutory obligations.
Financial Reporting: Dormant companies are still required to prepare their financial statements in accordance with Singapore Financial Reporting Standards (SFRS).
AGM Requirements: They must convene an Annual General Meeting (AGM), either physically or through written resolutions.
Annual Return Filing: Dormant companies are obligated to file their annual returns with the Accounting and Corporate Regulatory Authority (ACRA) within the prescribed time limits.”