Corporate secretarial services offer several benefits and advantages and can be tailored to meet your company’s specific needs. Here we will outline some reasons for using corporate secretarial service singapore:
Protection of your Assets
For sole traders and smaller companies, one of the most important reasons to use corporate secretarial services is protection from personal liability. Many business owners think that because their company is a separate legal entity, they will not be liable if anything goes wrong with their business or they are subject to legal proceedings. In many cases, this may be true, but there are occasions when company officers can find themselves personally liable for company debts and liabilities – sometimes even long after the business has been sold – simply because they were negligent in taking care of the paperwork properly so as to ensure that the company remains a separate legal entity.
If you go bankrupt as a result of being sued by creditors, any money you have personally saved over the years will be used to pay off your company’s debts. In contrast, if you use corporate secretarial services and the company goes bankrupt, your personal assets are protected.
Compliance with Statutory Requirements
A key part of corporate secretarial service, even at virtual office service singapore is ensuring compliance with statutory requirements, which can be complex and time-consuming for companies that do not have the necessary in-house expertise. As a company director, you have a legal responsibility to ensure that your company complies with all relevant legislation, and corporate secretarial services can take care of this for you, leaving you to concentrate on running your business.