Is Outsourcing Your Company Secretarial Service is Right Decision?

By: thomassujain
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Finding a company secretary is a challenging task. It becomes especially tricky when you have to do so within 6-months of business incorporation. If you want to establish your business in a foreign market, you might find it beneficial to appoint a local talent firm for the administrative tasks. Your company’s chance of success and survival will depend directly upon the talent and knowledge of the remote company incorporation service you will hire. Their familiarity to the national commerce laws and regulations will determine the lion’s share of your future. To make a great impression on the authorities and the target audience it is imperative to stay on the right side of the law. It is easier than you think to lose track of the regulations and slip to the darker side without devious intention. It can result in expensive penalties and harassment. In the light of mentioned events, it is smarter to appoint a company secretarial service.

 

How do you find the right provider for your company’s secretarial needs?

To find the perfect service provider, you might have to look through hundreds of websites and make a hundred calls. In fact, this is the only process of proper searching that can lead you to responsible and reliable service providers in your target market. Asian markets are highly competitive for foreign businesses. The markets in the east are undergoing a startup boom that is making it all the more necessary for out-of-country companies to find reliable secretarial services. Extensive research is an integral part of the searching method since there are multiple criteria a company secretarial service provider needs to meet. Here’s a comprehensive view of the different eligibility requirements for any corporate secretarial working out of Singapore –

1. The company must have at least three years of experience immediately before the appointment.

2. The professional must be qualified and must hold a public accountant office under the Legal Profession Act, Cap. 161.

3. They should be a member of the Singapore association of the Institute of Chartered Secretaries and Administrators.

4. He or she is a member of theAssociation of International Accountants,

5. He or she should be a member of the Institute Of Company Accountants, Singapore.

The accountant you pick should possess at least one of the qualifications from the list above. Although a private company is at liberty to appoint a secretary, in case, he or she has enough knowledge to meet the responsibilities of the job.

 

Why is it time for you to consider outsourcing?

Are you still in two minds about appointing a company secretary service? Then think about the financial benefits and the new projects you can begin with the money you save. Outsourcing the job will offer you a plethora of advantages. That can increase the company’s daily output and brings you little-known tax benefits. In addition to these, you will save a fortune by not setting up a new interview, office, and workstations.

Here are top 5 reasons you should consider appointing a registered agent for the services –

 

1. You can spend more time working on your business plan

Administrative tasks require time and effort. Compliance issues can take up a lot of budget and precious time, which you could spend on perfecting your business operations in the nascent market. The service provider can take charge of filling out the extensive paperwork and filing the reports with ACRA. Several businesses across the world rely on outsourcing to meet their daily compliance requirements and administrative needs.

 

2. You can be sure about the expert treatment of lawsuits and legalities

In a country like Singapore, not complying with the laws and regulations can lead to penalties, paperwork, and even lawsuits. You need to ensure that these stay private and away from the media. Keeping scandals away from social media is one of the chief responsibilities of such services. A professional and registered agent can ensure that you always receive any legal paperwork and notice in person. The Acrafile Company Incorporation Service can help you demystify the factors that contribute to the preservation of a company’s reputation.

 

3. You can operate from anywhere

Most startups do not have enough budgets for the premium real estate. While some work from shared co-working spaces, others turn to residential apartments and garage rentals for their daily operations. Having a remote registered agent on your team will help you transact in the foreign states and countries. It is imperative in Singapore since the Singapore Commerce Act requires your company to have at least one qualified agent in the country, who is neither the director of the company nor a shareholder.

 

4. You can stick to flexible working hours

Today, entrepreneurship is highly competitive. As a result, no company adheres to 9 to 5 working hours. The hours of operation depend upon the target market. Some companies in the USA serve a client-base in Western Europe. That means their employees have to stick to the opening and closing hours of the Western European market. In case, you do not keep “normal” working hours; you may want to avail the service of remote corporate secretarial services. These agents can deliver important documents and messages to your email or your doorstep (via postal services), without alerting your neighbors, shareholders or competitors.

 

5. You will never have to worry about non-compliance ever again

How can you avoid non-compliance without spending a ton of money on hiring new talent for the office? The only way to do it is by appointing remote agents, who already have sufficient experience and training to handle the compliance needs of your business in a foreign land. Compliance is not necessarily the field of expertise for most entrepreneurs, which makes the corporate incorporation services an obligatory part of their market expansion plan.

Did you know? Not all registered corporate incorporation or agent service providers have the necessary resources to meet your company’s compliance needs. To adhere to the laws of the state, you need someone (or a team), who will always stay in touch and have the experience to guide your company out of troubled waters, whenever necessary.

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