What are the responsibilities of a company secretary in Singapore?
The company secretary is required to ensure that the company is in compliance with the relevant legal requirements in accordance with Singapore Companies Act, Cap. 50, including preparing and filing statutory registers and returns, board resolutions, minutes of the general meetings.
Can a company director also be the company secretary?
A company director can also hold the position of the company secretary only if he is not the sole director of the Company and met the requirements to act as the Copaqny secretary
Who is not eligible to be a company director of a Singapore company?
Following such persons are not eligible.
- Undischarged bankrupts,
- persons convicted of certain offences,
- persons who are unfit to be directors and those who have been in persistent default with the procedural requirement of the Singapore Companies Act.
What are your typical terms for providing a nominee director service?
The responsibilities of a company director are rather onerous and therefore we usually look at the credibility of company beneficiaries before we offer this service. We will also need you to sign a nominee director indemnity letter, and provide a refundable security deposit. In addition, we would also required to have at least 2 other foreign directors to be appointed and the Company is required to prevail our accounting and tax services
Does a company director have to be a company shareholder and vice versa?
No, directors are not required to own shares in the company unless specified in the Company’s Constitution. Similarly, a shareholder does not have to be a director but is permitted to be appointed as such.
What is the difference between a company director and a company shareholder?
Shareholders own the company and are entitled to the profits of the company. Directors are appointed to manage and run the company, dealing with the every-day responsibilities.
Is a dormant company required to inform ACRA about changes in company directorships?
Yes, even if your company was dormant during the said period, you are required to notify ACRA of any changes in the company’s corporate information including the change of company directors and its particulars.
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