Our Singapore corporate secretarial services take care of matters for your business—enabling you to concentrate on your work without getting bogged down in confusing administrative tasks.
As a business, you have specific responsibilities. Every company in Singapore is subject to rules imposed by the Companies Act. Failing to follow these rules can result in severe penalties, including fines and even criminal prosecution.
Problem is that the Companies Act is long and hard to understand, and strict deadlines must be followed. For instance, non-exempt companies must file their accounts with ACRA every year.
Getting a reliable firm to provide corporate secretarial services in Singapore is essential. Not only does it ensure you don’t fall foul of any rules, but it also frees up precious time and manpower so you and your employees can concentrate on doing great work.
Prior to the global financial crisis in 2008, external asset managers (EAMs) were virtually unheard of in Singapore, despite being well established in Europe. On the back of this crisis, the regulatory framework for managing the financial system in Singapore was enhanced and strengthened.
With the increasing wealth in Asia, there is a growing base of young, affluent clients looking for highly personalised client service. Such clients often turn to EAMs since the key advantage of using an EAM is the assurance of independence and the availability of a broader range of diversification options, including alternative investments and customised structured products. As such, the demand for EAMs has soared, and the sector is still rapidly expanding.
While the EAMs is a booming sector and will be here to stay, establishing and running an EAM is not for the faint-hearted.
Ignorance of the law is no excuse if you operate a business without the appropriate permits and licenses required by the different government regulations.
Before even setting up your EAM, the regulators would require business plans, policies, and procedures to be presented before issuing licences to these potential fund management companies.
From regulatory filings to permits, we can do the legwork (and the paperwork) to ensure that you comply. After all, we have successfully procured licences for many of our EAMs clients.
Once the licence is granted, the EAMs would then deal with key issues such as IT systems, risk management systems and compliance.
The key to Singapore’s placement as one of the leading global financial hubs is the robust regulatory framework for the financial services industry. While compliance challenges are nothing new for fund managers, the pressure to get it right has never been greater. The ever-changing regulatory landscape makes it challenging to keep up with the latest requirements. That’s where we come in.
With our extensive regulatory experience, we have helped many of our clients not only ensure that their EAMs remain compliant but have also helped implement the use of cost-efficient compliance software to keep the teams coordinated, updated on recent developments and compliance practices in check so that they can focus on growing their business to new heights.
With more than 10 years of experience in the financial industry, Susan Tan, who joined us from one of the leading corporate and investment banks in Singapore, provides invaluable expertise and knowledge in corporate secretarial.
She is conversant and familiar with the local regulations and requirements for business entities in Singapore.
As a member of our team, Susan is responsible for maintaining and updating the Company’s statutory registers and records, filing all necessary documents and forms with the Accounting & Corporate Regulatory Authority (ACRA), Ad-hoc assignments such as allotment and transfer of shares, amendment of Company’s Constitution and submission of Annual Return to ACRA.
Apart from corporate secretarial work, Susan has considerable experience and expertise in compliance advisory matters, making her a valuable member of our firm.