Can the Shareholder or the Director of a Singapore Company also permitted to serve as its Company Secretary

In every company in Singapore, there are certain positions which are pivotal to the existence and business success of the company. This is because the company would not be able to function in a normal manner if the people in these positions did not exist to carry out the duties associated with the positions. These important positions are those of the shareholder, director, and company secretary.

 

Shareholders, Directors, and Company Secretaries of a Singapore Company 

Shareholders only exist within certain business entities in Singapore. Business entities of Singapore which include shareholders are the following: the private limited company, the exempt private company, and the public company limited by shares. The business entity with the fewest shareholders is the exempt private company. An exempt private company may not have more than 20 shareholders. Furthermore, none of these shareholders is allowed to be a corporation. Private limited companies may have up to 50 shareholders, and some of these shareholders may be corporations. Public companies limited by shares are permitted to have as many shareholders as desired. A company’s shareholders collectively own the company through their shares. 

The business entities which have just been mentioned are among the many business entities which exist in Singapore today. Should you happen to be interested in starting a Singapore-based business of your own, we at Paul Hype Page & Co are able to be of much assistance to you. Our incorporation team will work with you in order for your new Singapore company to be established according to the laws and regulations of the country. We will also contact any relevant authorities on your behalf if such is necessary. 

The director of a company based in Singapore is tasked with the responsibilities of managing the business operations of the company so as to put it on the path towards success and stability. Anyone who is a natural person and 18 years old or older is allowed to become the director of a company in Singapore as long as such a person has not committed any violations which would cause the person to be banned from becoming a company director. 

All companies in Singapore are legally required to employ at least one company secretary. The company secretary is to complete all of a company’s tasks which are related to its administration or regulatory compliance. The company secretary is therefore the person on whom the company depends for the fulfillment of all of its regulatory obligations. A company secretary must have satisfied all relevant criteria before being selected for the position. One of the most important of these criteria is the fact that the company secretary must be a resident of Singapore. This position must be filled within six months of the incorporation of the company; failure to do so is a legal violation. 

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Shareholders and Directors Serving as a Company Secretary 

According to the existing laws in Singapore, it is only possible for a director to serve as the company secretary of a Singapore company if the company has more than one director. Therefore, it is not legally permitted for a company which has just one director to select that same director as the company secretary. Should the company have more than one director, any of the directors who also happen to fulfill the requirements for being a company secretary in Singapore may be appointed. Even if more than one director is qualified to be a company secretary, there is no order of precedence specifying which director must be the next to take over as the company secretary. 

Any shareholder of the company who has fulfilled the company secretary criteria is permitted to become a company secretary. Singapore’s company laws make no mention of shareholders who intend to take this role 

In any case, if your company has not yet appointed a suitable person to serve as its company secretary, we at Paul Hype Page & Co will be able to be of service. We have an extensive network of contacts into which we will tap in order to appoint the most capable and qualified company secretary we can find so that your company will operate in the most positive manner possible.