Company Secretarial Services Hong Kong

Hong Kong has been attracting scores of entrepreneurs to its shores because of the tremendous ease of doing business, the easy access to bustling markets and the wide availability of skilled talent. The business district is notified as the Special Administrative Region of China, and any company, whether a sole proprietorship or a limited liability company, needs to be registered and incorporated under the Registrar of Companies under the Department of Inland Revenue. Although the process for Hong Kong online company registration is fairly straightforward, but once the company is incorporated and the business activities commence, there are several things that need to be taken care of to ensure compliance to local laws. That is why the position of a Company Secretary is so important for a limited liability company, and this is in fact one of the mandatory requirements at the time of incorporation.

The company secretary acts as a conduit for information between a company and the administrative machinery of the government. All regulatory requirements from the government are conveyed to the company through the company secretary, and the due compliance for all those requirements are conveyed on behalf of the company to the government by the company secretary. Let us look a little more in detail into the specific roles and responsibilities of a company secretary :

·         Must ordinarily be a resident of Hong Kong

·         He calls all board meetings and also meetings with shareholders

·     His attendance at board meetings is mandatory, and he is responsible for keeping minutes of the meeting

·         The implementation of the resolutions passed during the board meeting is also his responsibility

·         Responsible for renewal of business registration certificate

·         Responsible for submission of any legal requirements raised by government authorities from time to time
·       Responsible for preparing, recording and safekeeping of all statutory records and also producing them for inspection when needed

·       When the company is in financial trouble, the company secretary is responsible for providing sound advice regarding bankruptcy and liquidation, if needed

·    If the financial problems continue and the company needs to stop operations, then the company secretary is responsible for due deregistration of the company

As can be seen from the long list above, the company secretary must be well versed in law, commerce, and taxation, as well as be competent in carrying out administrative tasks. Additionally, the company secretary needs to be a resident of Hong Kong, so if a company wishes to hire someone from outside Hong Kong, that person would need to shift to Hong Kong. It is also difficult for one of the directors to multi-task and also shoulder secretarial responsibilities because they would also be busy with business development, channel management, strategy etc., and might find it difficult to carry out legal and administrative tasks as well. That is why foreign companies who are incorporating a new company in Hong Kong look for agencies here who can provide company secretarial services Hong Kong. A good agency can provide the ideal candidate with lots of experience who can shoulder the responsibilities immediately without needing to be trained.

Company Secretarial Services Hong Kong Company Secretarial Services Hong Kong Reviewed by Internal on April 12, 2018 Rating: 5

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