Appointing a Corporate Secretary and Perks of Outsourcing One
A Corporate Secretary is a strict officer requirement when setting up a Corporation in the Philippines. The Securities and Exchange Commissions registration will not be completed without fulfilling the said officer requirement.
What is a Corporate Secretarial Service?
Corporate Secretarial Service is a service offered to clients under the Company Registration Service who does not have a local person internally to act as the Corporate Secretary.
Does all types of entity requires a corporate secretary as an officer?
No, the entities that requires a corporate secretary officer are for domestic corporations (100% foreign-owned, 60/40 and 100% locally-owned corporation.
Can a foreign individual be a Corporate Secretary?
No, the government mandates that the corporate secretary must be a local person living in the Philippines.
If we avail your Corporate Secretarial Service, will the nominee be part of the daily operation of the corporation?
No, the nominee officer does not need to be part of the internal operation of the corporation. The main scope of the service is to draft and sign a secretary certificate if the company needed one.
Scope of the Corporate Secretarial Service
01.
Safekeeping the company's legal documents
02.
Preparation and drafting of the annual corporate compliance with SEC
03.
Sign on behalf of the Company for the Social Institutions
04.
Drafting minutes of the board meeting for Annual Audit compliance
05.
Drafting of the Board Resolution & Secretary’s Certificate
Corporate Secretary and its Duties
They are neither a member of the Board of Directors nor part of the line management. Considered as the glue that holds the entire organization together, they are responsible for ensuring the company stays in compliance with both regulatory and statutory requirements.
This statutory requirement is a testament to the importance that Corporate Secretaries hold for ensuring responsible corporate governance and timely compliance.
Importance of a Corporate Secretary
Despite recent amendments on removing the need for Filipino residents to comprise the majority of incorporators (founders) of a corporation, the strict requirement of appointing an individual who is both a Filipino citizen and resident for the role of Corporate Secretary remains the same.
We will handle all the corporate administrative tasks so you can focus on your business
Through Jumpstarters Manila's Corporate Secretarial Service, we will make your life hassle-free
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