Starting a business in Singapore is exciting. Until you realise you have a lot of work to do to stay compliant. Company secretarial services are one of those things that founders only think about when something goes wrong. Like when you miss a filing or a deadline. This can cause a lot of stress. Resources!

What surprises business owners is how important a company secretary is. They are not just someone who handles paperwork. They make sure your company follows the law. And in Singapore thats very important.

The law says every private limited company must have a company secretary within six months of starting. If you don’t ACRA will. Fine you. These fines start small. Can add up. When you want to get a loan or attract investors they will want to see clean corporate records.

A company secretary does more than you think. They keep records prepare and file documents and remind directors of their responsibilities. If you miss a meeting requirement you can get penalties that add up quickly.

Some founders try to do it themselves to save money. As your company grows and you have more shareholders and decisions to make it becomes harder to manage on your own. When you get audited or try to raise funds that’s when the problems show up.

In Singapore you can hire a professional to do your work for a fixed annual fee. This usually includes keeping your records up to date filing with ACRA and advising on the Companies Act. The cost is usually between SGD $300 and $500. Paying a bit more for a provider is worth it.

When choosing a provider look for one that’s responsive. Some providers just take your money. Disappear until its time to renew. A good provider will track your compliance calendar. Answer your questions quickly.

For founders having someone who knows the local laws and regulations can be very helpful. They can help you avoid problems that you didn’t know about.

Don’t try to cut costs on support. It’s, like the foundation of your business.