Appointing a company secretary is a mandatory requirement for businesses in Singapore. However, this role is not just about compliance—it also ensures proper governance, effective operations, and legal security.
The allure of hiring a cheap company secretary in Singapore often lies in saving costs, but the risks associated with inadequate service can far outweigh the savings. The right professional adds value, while the wrong choice could disrupt your business. Here are ten vital questions you must ask to assess whether the company secretary fits your needs.
1. What Is Their Experience in the Field?
A company secretary with diverse experience demonstrates the ability to handle complex situations. Ask about the companies they’ve worked with and their understanding of different industries.
Have they assisted startups, family businesses, or multinational corporations? Do they understand the unique challenges of your sector? A seasoned professional will foresee potential issues and address them before they escalate.
Experience also equips them to offer proactive guidance instead of reactive problem-solving.
Why it matters: Without a strong background, they may overlook critical compliance aspects or struggle to keep up with legal complexities. This can result in penalties and reputational damage.
2. Are They Legally Qualified?
Singapore’s regulations ensure that only qualified individuals can serve as company secretaries. They must be a Singapore resident, possess relevant qualifications, and demonstrate competency.
Ask for evidence of certifications or memberships with professional bodies like the Singapore Association of the Institute of Chartered Secretaries and Administrators (SAICSA).
Why it matters: Appointing an unqualified person could lead to non-compliance with ACRA’s rules, jeopardising your business’s legal standing.
3. What Services Are Included in Their Fee?
Explore the full range of services they offer. Beyond the basics like preparing resolutions and filing annual returns, do they:
- Maintain statutory records?
- Advise on corporate governance matters?
- Oversee shareholder communication?
Request a detailed breakdown of what their package includes. This helps you evaluate if the cost truly meets your needs.
Why it matters: Uncovering gaps in service too late can lead to unforeseen expenses and operational disruptions.
4. How Do They Stay Updated with Legal Requirements?
Singapore’s corporate laws and regulations shift frequently, requiring businesses to adapt quickly. A competent company secretary stays informed about these changes and implements necessary adjustments for their clients.
Find out how they keep themselves updated. Do they attend workshops, subscribe to industry bulletins, or engage in continuous learning?
Why it matters: Staying ahead of legal updates protects your business from unnecessary fines and ensures seamless operations.
5. Do They Provide Personalised Advice?
The best company secretaries tailor their services to fit your business. They recognise that a one-size-fits-all approach doesn’t work in today’s competitive environment.
Ask how they analyse your company’s structure, sector, and long-term goals before advising you. Do they offer solutions specific to your challenges?
Why it matters: Personalised advice ensures compliance and efficiency, reducing the risk of errors and operational missteps.
6. How Do They Handle Communication?
Clear and frequent communication forms the backbone of any professional relationship. A company secretary must keep you informed, respond promptly to queries, and alert you about compliance deadlines.
Ask how often they’ll update you on important matters. Can you reach them easily, or do they only respond during specific hours? Communication styles and availability vary, so ensure theirs aligns with your expectations.
Why it matters: Poor communication could lead to missed deadlines, which may result in penalties or delays in key decisions.
7. Do They Have Safeguards Against Errors?
Even skilled professionals occasionally make mistakes. The difference lies in how they prevent, manage, and rectify these errors.
Ask whether they carry indemnity insurance and what steps they take to minimise risks. Their willingness to discuss error management shows accountability and professionalism.
Why it matters: Errors in governance or compliance can lead to legal consequences. Choosing someone who prioritises accuracy safeguards your business.
8. Can They Support Your Business Growth?
Your business may be small now, but what happens when you expand? An ideal company secretary adapts to your changing needs and grows alongside your company.
Enquire about their experience with businesses undergoing growth. Can they handle the increased complexity of a larger organisation? Do they offer services like restructuring, merger support, or international compliance?
Why it matters: A secretary who scales with your business saves you the trouble of hiring someone new during critical transitions.
9. Are There Any Hidden Costs?
A low advertised price might not tell the whole story. Ask if the quoted fee covers everything you need or if there are additional charges for urgent filings, extra meetings, or complex resolutions.
Request a written agreement outlining all potential costs. This transparency protects you from unexpected expenses.
Why it matters: Clear pricing allows you to plan your budget effectively and ensures there are no surprises later.
10. What Do Their Clients Say About Them?
Feedback from previous clients offers a window into their performance. Look for online reviews or ask for references. Speaking with other business owners who’ve worked with them can provide honest insights into their strengths and weaknesses.
Ask specifically about their reliability, professionalism, and ability to meet deadlines. A candidate with strong client endorsements is more likely to deliver quality service.
Why it matters: Satisfied clients indicate a track record of dependability and competence, while negative feedback serves as a warning.
Additional Considerations to Strengthen Your Choice
Technology Proficiency
Modern governance relies on technology. A good company secretary uses digital tools to manage records, monitor deadlines, and communicate efficiently. Ask if they use software to automate routine tasks and improve accuracy.
Cultural Compatibility
For small businesses or closely-knit teams, cultural fit is crucial. The secretary should align with your company’s values and communication style to foster a productive relationship.
Responsiveness
Find out how many clients they manage. Someone stretched too thin may struggle to prioritise your needs, while a more focused professional can offer timely assistance.
Commitment to Quality
Look for someone who emphasises continuous improvement. A secretary committed to staying current with best practices will consistently add value to your business.
The Pitfalls of Focusing Solely on Price
Choosing a cheap company incorporation services in Singapore might save you money initially, but it often comes with trade-offs. An underqualified or overburdened secretary might miss critical details, leaving your business exposed to risks.
Think of the company secretary as an investment. Spending slightly more on a capable professional delivers long-term benefits, including smoother operations, fewer errors, and enhanced peace of mind.
Conclusion
Hiring a cheap company secretary in Singapore requires a blend of caution and strategy. Asking these ten questions helps you separate cost-saving opportunities from potential liabilities.
A company secretary isn’t just a regulatory requirement. They’re a partner who protects your business, ensures compliance, and supports your growth. Choosing the right one strengthens your foundation and sets you up for long-term success.
Don’t let price be your only guide. Look for expertise, reliability, and a proactive attitude to find someone who fits your needs and budget. This balanced approach guarantees peace of mind while allowing you to focus on growing your business.
