FAQ: LOCAL REPRESENTATIVE SERVICE?

Why you need a Local Representative? According to the “Guideline on the Keeping of Significant Controllers Register”, it states company must appoint at least one local person as a representative of the company.  What is the role of a Local Representative? The main role of the Local Representative is to provide assistance related to the …

CALCULATE STAMP DUTY RATES FOR COMPANY SHARE TRANSFER

What is a Stamp Duty?  Stamp duty is the tax governments place on legal documents, usually in the transfer of assets or property. Governments impose stamp duties, also known as stamp taxes, on documents that are needed to legally record certain types of transactions.  Stamping of Shares Transfer When you are going to do the …

COMMENCEMENT OF NEW INSPECTION REGIME – PHASE 1

Further the new inspection regime for the Company Register gazette in July. Yet, Phase 1 of a new inspection regime of the Companies Register under the Companies Ordinance (Cap. 622) commenced on 23 August 2021. From 23 August 2021, companies may withhold from public inspection the usual residential addresses of directors and full identification numbers (“IDNs”) of directors. …

COMPANY REGISTRY REQUIREMENT ON PAPER STANDARD WHEN FILING HARDCOPIES OF DOCUMENT

Even though e-Registry or electronic submission became prevailing trend. Still some people will file hardcopies of document to Company Registry. If you are one of those, you should keep an eye on the paper standard and requirement.  What is the Paper Standard and Requirement? Plain, white, medium weight A4 paper with matt surface. That is, …

NEW INSPECTION REGIME FOR THE COMPANIES REGISTER

The Government gazetted updates to the Companies Ordinance introducing the new address inspection regime for the Companies Register. In addition to this, the new subsidiary legislation will be launched in 3 phases. Correspondence Address Replace Residential Address The subsidiary legislations stipulate that the Companies Registry (CR)’s Companies Register is to make available for public inspection. Hence, …

4 MAIN REGISTERS AT THE HONG KONG COMPANY REGISTRY

What are the 4 Main Registers for a Hong Kong Limited Company?  There are 4 main registers: Register of Director(s), Register of Company Secretary, Register of Members and Register of Significant Controllers.  Under the New Companies Ordinance in Hong Kong requires limited liability companies to have a designated Company Secretary. You must to inform the …

COMPANY UPDATES THAT MUST BE REPORTED WITHIN 15 DAYS

Every registered company must comply with the requirements of the Companies Ordinance. Also have to deliver statutory returns to the Registrar of Companies within prescribed time periods. Company updates are required to notify Company Registry within 15 days. While some company updates require report within 42 days.   What situation you should report within 15 days after …

WHAT DO YOU NEED FOR A SHARE TRANSFER?

What is a share transfer? A share transfer is the process of transferring existing shares from existing shareholders to new shareholders or third parties. The process can either be sale or gift and is a common exercise performed by Hong Kong companies with shares. The process mostly involves either adding new shareholders or changing the …

MAINTAINING YOUR COMPANY DURING DEREGISTER

Business owners are always concerned about how to incorporate a company and the logistics around running one. However, one aspect of running a business that many business owners fail to recognize is the deregister of a company. Deregistration is not a situation to expect but is always good to prepare for. When to make a …

IS YOUR PROFESSIONAL COMPANY SECRETARY A QUALIFIED ONE?

According to Section 154 of Hong Kong Company Ordinance, every company must appoint a Company Secretary. Along with this article, you can see the importance of a company secretary for every Limited Companies in Hong Kong. In fact, many of the Limited Companies do not know if they have hired a QUALIFIED professional company secretary to help …