Singapore is a booming economy with over 350,000 companies, 20,000 partnerships and 500 public accounting firms. With the low taxes and authorized capital of only 1 dollar, it is the ideal location to start and grow businesses. The Companies Act in Singapore however ensures that every business, be it a start-up or multinational company, has a corporate secretary. Therefore, since 2006, there has been a sharp rise in the number of corporate secretarial service provides within the country.
They have grown to play an important process in assisting firms to manage and avoid the issues due to corporate non-compliance. Not only do these companies ease the burden for entrepreneurs, but also make the process a lot more efficient, allowing for business leaders and founders to focus on the growth of the business. These Corporate Secretarial companies have increased efficiency for companies and have played a crucial role in Singapore ranking 2nd in World Bank’s “Ease of Doing Business” 2019 Report. In fact, Singapore has never slipped outside of the top 3 for the past 13 consecutive years. As a result, the outsourcing of corporate secretaries is on a rise in the country.
AThere are some great Corporate Secretarial service providers based in Singapore. As such, we have compiled a list of ten leading companies in this industry for your consideration.