A Corporate Secretary is a person who ensures a company stays atop the legislation, regulations, and takes actions to manage the regular tasks to comply with the legal laws.
More often than not, Corporate Secretaries are lawyers or professionals in business fields who have a piece of excellent knowledge in governance responsibilities. While setting up a company in Oman, it needs entities to follow Omani corporate rules and regulations.
Why do companies need Corporate Secretarial Services?
Once a company incorporates in a country, it needs to abide by a few corporate governance responsibilities. Maintenance of company records, annual accounts, communicate with shareholders, risk management, and registration are some of the tasks given to the corporate secretary of a company. The maintenance of these services, which are core pillars of the business entity is of utmost importance.
Regardless of the size, every company needs a Corporate Secretary. Holding Annual General Meetings (AGM) is also a significant task given to them.
Why Outsource CS Services?
In earlier days, companies preferred keeping an in-house Corporate Secretary, but the trend has changed now. Nowadays, companies are inclining towards outsourcing these services after understanding the benefits of it. Outsourcing corporate secretarial services means the company gives these responsibilities to an entity outside the premises of the company.
Back in the day, outsourcing was looked at as an expensive choice for business, but now companies realize that the benefits outweigh the costs.
Reasons to outsource CS services
For the survival of a company, CS services play a crucial role. Let us look at the advantages you can get by outsourcing your company’s CS services.
1. Conformity with the law
The company or entity that provides the services on outsource basis has an in-depth knowledge of the rules and has experience in understanding the services needed for the business. So, one can expect significant expertise and efficiency while outsourcing.
2. Proper focus on business activities
Outsourcing relieves the company of its registration and compliance matters, hence can concentrate entirely on business development by channelling the company’s time and energy.
The cost of hiring and training employees, cost of infrastructure, and overhead taxes are reduced by outsourcing the services. The quality of work is not compromised either. The money and efforts can be put into business development.
4. Not influenced by office politics
Any employee relationships and office politics will not affect the quality and results from an outsourced service.
The firms that solely provide outsourcing services tend to gain a level of competence that enables them to do the job quickly and with a degree of expertise.
6. Fewer Errors
Professionals tend to be subject experts in their respective fields. A corporate secretary professional may find more insights in regards to the services needed for your company and do the work with fewer errors and improved efficiency.
7. Better Planning
To be initiated within a fixed deadline, a company undergoes several projects and their planning. An expert in CS activities helps to build up a project plan to improvise the preparation quality that reflects in the quality execution of the program.
8. Corporate Structuring and Restructuring
Structuring and restructuring, a company needs various critical steps. An outsourced CS helps you deal with it in a straight-forward way and making it more profitable to implement.
9. Efficient Financial Management
Financing, the task that creates the lifeblood of a business is needed in every step the company takes. Hence, availing for an outsourcing CSS helps in dealing with the business’ finances efficiently and conveniently.
10. Ease during collaborations, mergers and acquisitions
Entering into a partnership, merger or purchase with another company or partners involves a lot of paperwork, the formation of new policies and rules, and restructuring, which can be dealt with to be profitable.
Hence, it is evident why it is profitable and of high-interest to outsource CS services for your Oman business. Regardless, if your business is a well-established firm or a start-up, a Corporate Secretary can help you take your company to the next level.
Where to look at for outsourcing CS Services?
If your present query is where to find a reliable CS service to be outsourced for your Oman company, we at Commitbiz are committed to provide valuable services for your business by being your Omani Corporate Secretary Service partner. Read our blog on the Corporate Secretary Services in Oman.
We, at Commitbiz, are a team of professional experts who have been one of the business consultant players in the UAE region. We provide services for companies and business people interested in setting up their venture in the UAE by helping with incorporation, accounting and bookkeeping, CS, taxation, and legal services. For your company’s service needs and further assistance, contact us.