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Implementation of Unique Business Identifier Company Registry announces the implementation of Phase 2 of Unique Business Identifier (UBI) on 27 December 2023. The purpose of using UBI is helping government to enhance public service delivery and regulate entities more effectively. What is UBI? UBI enables governments and businesses to distinctly identify legal entities in various …
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In Hong Kong, company restoration re-registers a deregistered company and restores its legal status and operations. And here are something to know before restoring a de-registered company. Company restoration can be done when a company needs to reopen or restore its legal status for some reasons. So what are the common causes? For example, So there …
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What’s New? Starting from 28th April 2023, the Companies (Amendment) Ordinance 2023 (the “Amendment Ordinance”) came into operation in Hong Kong. The Companies Registry (CR)accepts holding an annual general meeting (AGM) or general meeting (GM) in virtual methods. members of Hong Kong Companies will no longer need to show up in person to attend the …
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To enhance protection of sensitive personal information, while keeping up the transparency and usefulness of the Register. The Companies Ordinance (Cap. 622) is carrying out in 3 phrases from August 2021 through end of 2023. Only Specified person can access the protected information. Where are we now? The Registry of Hong Kong is now preparing …
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Hong Kong Local registered companies must comply with the requirements of the Companies Ordinance (Chapter 622, Law of Hong Kong). And deliver statutory returns to the Registrar of Companies within prescribed time periods including: What you have to do? Business registration and its renewal are statutory requirements under the Business Registration (Chapter 310 of the …
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Previously, Centre O talked about what is stamp duty and how to submit the stamp duty. In this blog, Centre O is going to talk about the duty rates, penalty and show you how to calculate the stamp duty. Duty Rates Stamp duty on tenancy agreements is calculated at rates. And the rate is vary …
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Under the Companies Registry, the Companies Ordinance (Cap. 622) (“CO”) provided for a new inspection regime for personal data on the Companies Register (“the Register”) In the past, the general public supposed to have the right to access the Companies Registry information. For instance, the director’s usual address and full identification numbers, full identification numbers …
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Further the new inspection regime for the Company Register. Phase 1 of a new inspection regime of the Companies Register under the Companies Ordinance (Cap. 622) commenced on 23 August 2021. Then Phase 2 will commence on 24th October 2022. What will Phase 2 of the new inspection regime cover? Under Phase 2 of the …
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Under the Mandatory Provident Fund (MPF) Legislation, you can’t withdrawal MPF until you are 65-year-old. However, you can withdraw your MPF earlier under below circumstances: Early Retirement Withdrawal If you are reaching age 60 and no more employment. Then you have to make a statutory declaration that you have no intention of becoming employed or …
Share Transfers Share Transfers happens in any businesses, your Company Secretary or Agent will prepare a Contract Notes. The Contract Notes are required to be executed and stamped within a timeframe. What’s within the Contract Note for a share transfer? According to the Stamp Duty Ordinance (Cap. 17), the contract note should contain the following …