Are you planning to incorporate a company in Malaysia?
But wait, do you know the requirements to set up a company?
One of the legal requirements is; your company should have a secretary at all times.
Don’t get twisted! We aren’t talking about the secretary who receives guests from your firm. No! Their role is to offer guidance and assistance to the board of directors.
Under Malaysian laws, the company secretary Malaysia, the secretary should be a natural person. His or her primary residence should also be in Malaysia and profess at least one professional qualification and licensing.
Further, your company secretary shouldn’t be bankrupt or a crime convict.
Here are the few tips to consider when hiring a company secretary.
- Clear Understanding of Malaysian Company Law
Among many roles of a company, the secretary is legal assistance. Therefore, it’s only logical to appoint someone familiar with laws and regulations.
Don’t ignore this consideration. If your secretary isn’t competent, then you’ll get the wrong legal advice. This results in countless court cases that you’re likely to lose.
Any company operating in Malaysia should abide by all rules and regulations as set out in the companies act. For instance, the company secretary, with the assistance of the audit company in Malaysia, should submit audited annual reports to the registrar. Failure to observe this guideline results in costly fines for your firm.
That’s why you should engage a secretary who’s well-versed with local laws and jurisdiction. It’ll help avoid any compliance penalties.
- Excellent Communication Skills
Your company’s secretary is the voice of your firm. They create a communication link between shareholders and directors.
They also must facilitate general, AGM, and director’s meetings. With their extensive knowledge of legal matters, they’re able to offer invaluable advice to directors and shareholders.
- Administrative Skills
The company secretary plays a vital role in your company. There’s a multitude of tasks that your secretary must handle.
In simple terms, the company secretary acts as a bookkeeper to your company. Other tasks include filing annual returns and submitting financial reports.
With all these tasks, you need someone with sound administrative skills. With this, they’ll quickly function their duties.
The company secretary helps you manage your business operations smoothly. Their duties include keeping a record of directors and shareholders.
The secretaries maintain annual reports and submit them to the relevant authorities. With this, it’s essential to hire a competent professional to be your secretary.
Considering the above factors ensures you’re getting the right person for the job.