Company (Amendment) Ordinance 2018, has been introduced since 1 March 2018. There are new requirements on the keeping of significant controllers registers by companies has come into operation.
All registered Hong Kong Limited Companies are required to identify a person/ persons who has/ have significant control over the company and maintain a Significant Controllers Register, informing and updating your Company Secretary, which these information has to be accessible by law enforcement officer upon request on the spot.
Each company MUST also designate at least one person as its local Hong Kong representative in order to provide assistance relating to the Significant Controllers Register of the company when law enforcement officer request for them.
In order to prepare and keeping of the Significant Controllers Register (SCR), below actions are required;
1) A Place to Keep the SCR, can either be:
A) at the Registered Office
B) same place as the register of members;
C) Any other place within Hong Kong
Any companies selecting option C will have to also file Company Registry Form NR2 to report the location of keeping the SCR.
2) Identify the Significant Controller(s) of the company with below steps:
A) Reviewing the Company’s Register of Members
B) Reviewing their Articles of Associations
C) Reviewing shareholders agreements or other agreements and issuing notice(s) to any person who is believed to be the Significant Controller and any person who is believed to know the identity of the Significant controllers.
3) Prepare SCR and enter the required particulars of the Significant Controller(s) and contact details of the Local Designated Representative of the company into the Significant Controller Registry.
For more details, please contact your company secretary or email to josephine@centreo.hk
Click here for Company Registry of Hong Kong Significant Controller Registry Guideline.