FAQs

The Annual Return filing date is not fixed and varies based on the financial year-end (FYE) of companies. ACRA requires submission within 7 months after FYE. Additionally, it is important to note that the Annual Return should be lodged within a month after shareholders sign the resolution approving the financial statements. If shareholders sign the resolution before 5 months after FYE, submit the Annual Return to ACRA within a month after that timeframe.

There is a common misconception that the submission of financial statements (FS) and the filing of the Annual Return are separate processes. In reality, they are combined into a single submission if your business falls into the category of companies required to submit FS. However, companies with fewer than 20 shareholders and no partial ownership by other businesses are exempt from submitting financial statements to ACRA. If your company has corporate shareholders or is insolvent, it is mandatory to submit the financial statements along with the Annual Return.

A corporate secretary, or company secretary, is an officer responsible for looking after the administrative work of a company efficiently. He or she is tasked with keeping the operations in accordance with the statutory requirements, regulations and laws in Singapore. It is also the corporate secretary’s responsibility to manage the company’s compliance, and act as a mediator between shareholders and directors.

In Singapore, a corporate secretary also shares responsibility for certain legal obligations with the directors of the company. If the Secretary finds a breach of the law, he is required to inform the persons concerned so that the matter can be resolved as soon as possible.
At Sleek we focus on assisting company entrepreneurs to meet the mandatory requirements in Singapore by being their appointed corporate secretary, and provide corporate secretarial services. These include specific services such as company directors/shareholder appointments, resignation/board meetings, compliance duties and the filing of annual returns. This allows entrepreneurs to fully focus on growing their business, without having to worry about other matters. A corporate secretary is a key role that allows entrepreneurs to develop their business in Singapore quickly while ensuring compliance from a corporate governance point of view. If you would like to know more about a corporate secretary in Singapore, do contact us.

The Company Secretary must ensure that the company and the directors comply with the rules from the Constitution of the Company. Directors need these individuals to advise them in their statutory obligations.  Here is a list of the main functions/tasks of a corporate secretary in Singapore:

• As a corporate secretary, Sleek’s function is to organize meetings for the company (these include board meetings and general meetings) and to file annual returns if required. As corporate secretary, Sleek ensures that the company meets the deadlines. For example, we remind our clients when they need to hold their annual general meeting (AGM), usually within the next 6 months after the reminder.

• With regards to shareholder duties, the secretary must supervise the company through the creating and issuing shares process. They will be the mediator between shareholders and directors. It must also deal with other matters affecting shareholdings and queries from shareholders.

• A corporate secretary is also in charge of disseminating financial statements to shareholders, who will then be well-equipped to take part in decision-making at the company’s annual general meeting (AGM). 

• A corporate secretary in Singapore have the responsibilities of preparing accounts – like the firm’s annual accounts and ensuring that the accounts  are prepared in accordance with the Company Law provisions. 

• It is part of their duty to ensure that adequate insurance coverage is in place for the whole company (directos, staff, office…) and needs to take care of ensuring the safe custody and proper use of the company seal.

• The corporate secretary must also update the company’s details and particulars on ACRA. They should prepare documents in advance for relating these changes to directors and /or shareholders for their approval. This includes a change of company name, a change of registered office address, a change of share capital and the appointment/termination of the corporation’s officers.

If you wish to switch to Sleek’s Company Secretary, we’ve made the process fast so that your transfer is just a few clicks away. Here is what you should know before leaving your current service provider and moving to Sleek:
First, you need to get in touch with us to carry out a series of KYC (Know Your Customer) processes. After the approval, we will require you to notify your current service provider of the determination statement for records.

Sleek offers not only secretarial services for companies but also a registered address for your company. If you want to read more about how to change your company secretary, click here.

We are happy to assist you with any queries from general corporate secretarial queries to transferring your existing company secretary to us!