It is a firm that delivers a restricted number of outsourced corporate services from a corporate service provider. Its principal objective is to provide non-core business operations support services to other companies.
Businesses that provide corporate services are grouped together under the umbrella of BPO. While corporate services are limited to the administrative and financial aspects of a company’s operations, business process outsourcing (BPO) has a wider reach.
- A corporate service provider often offers the following sorts of services in the United States.
- Corporations provide services to customers.
Corporate secretarial services
An experienced corporate secretary or company secretary is a need for every corporation at some point in its history. It is the job of a corporate secretary to make sure that the firm adheres to all local rules and regulations in the jurisdiction where the company is formed or founded. Choosing the online corporate services provider is essential in this case.
The Singapore Companies Act mandates that all Singapore-based businesses must hire a company secretary within six months of their official launch date.
New firms may struggle to keep up with all of the legal obligations. Since the role of corporate secretary is dependent primarily on the needs of the company, it may not be a cost-effective alternative for small enterprises to hire one.
As a result, contracting out this work to a business service provider saves time and money. For large corporations with many different businesses that require this service, the exception is obvious.
There are typically corporate secretaries employed by a corporate service provider that are dedicated to the company’s requirements. It may also provide legal and tax assistance on incorporation-related concerns, as well as other services.
Corporate secretaries undertake a variety of duties, some of which are listed below:
- An ACRA (Accounting and Corporate Regulatory Authority) filing establishes a private limited corporation (ACRA)
- In order to receive notifications and messages, a correspondence address must be registered and established.
- The creation of a company secretary position.
- updating and accurately maintaining corporate documents required by law
- Applications, notices, and refunds must be submitted to the ACRA.
- the formulation of board resolutions and shareholder resolutions.
- The preparation of the documents required for the AGM to be held and convened.
- The ACRA requires the submission of an Annual Return.
- People need to be reminded of the filing deadlines.
Offering support to consumers in opening bank accounts and setting up meetings with a bank representative
Removing the company’s name from the list of legal entities is required
It’s possible that the cost of this service may rise or fall. To meet the needs of its consumers, several corporate service providers provide a flexible pricing structure. However, the service may be provided on a retainer fee basis or on an as-needed basis by Intime Corporate.
- Additionally, Intime can help clients with the creation of offshore firms in a wide range of nations.
- We can help you with your payroll needs.
- A company’s Human Resources and/or Accounting departments often manage payroll.
Keeping track of vacation time and sick leave for employees
Submit all employees’ Form IR8A and any necessary appendices to IRAS online using the Auto-Inclusion Scheme, if applicable (AIS)Preparation and electronic submission to the Internal Revenue Service of Form IR21 (tax clearance for leaving foreign employees) (IRAS).Keeping track of employee salary rises and other elements that are linked to pay raises is essential.Ensure that the client company’s payroll requirements and standards, as well as the Ministry of Manpower’s laws and standards, are met (MOM).