Company Secretary Services
The main duties of company secretary are handling the company’s compliance matters such as maintaining the statutory records, filing the specified form and notices in timely manner, arranging the meeting of members and directors, etc. to ensure the company is complied with the laws and regulations, articles of association and enhance the corporate governance.
In additionally, since 1 March 2018 all companies must keep a register of significant controllers and assign one contact person (i.e., designated representative) in order to provide assistance and information in regard to the registers to the law enforcers (e.g., Companies Registry, Custom, etc.).
Our services included:
(1) Company Formation:
Forming a company is usually the first step of starting a business, the words “Limited” prescribed in limited company means the shareholders only bear a limited amount of debt obligation (e.g., the share capital). Since the company’s loss is only limited in the company but cannot chase to the shareholders, hence the shareholders’ exposure to business risk is limited. The limited company by shares is therefore the most common way of running business in the world.
Unlike a natural person who would getting old and decease, the company is a legal person that could sustainable forever as long as the financial position is in good health and in compliance with the laws and regulations. Hence, your lifelong built-up business can pass to your successors through company, or you may also sell the company for leaving the business.
Why forming a limited company in Hong Kong?
Hong Kong has a sound legal system, a friendly business environment, a free and open market, basically the government will not interfere in the development and decisions of private companies, the laws of Hong Kong provide a comprehensive protection of assets and shareholders, low tax rates and relatively simple tax system.
No foreign exchange controls in Hong Kong, the investors can transfer of funds, borrow of loans, exchange of different currencies, etc. at any time. The company's accumulated earnings and dividend can also be remitted out at any time because Hong Kong does not levy dividend tax and no prior application to authority is required.
Free-market, free-trade and no foreign exchange controls are always the traditional features of Hong Kong as one of the important financial centers in Asia.
Conditions for forming a company in Hong Kong:-
- At least 1 shareholder and a minimum share capital is HK$1
- At least 1 director who is natural person (i.e., individual)
- 1 statutory company secretary
- A registered office located in Hong Kong (PO Box is not accepted)
Hong Kong Companies Ordinance (Cap.622) has not imposed nationality registration for shareholders or directors, which means any persons or legal persons can be the shareholders or directors of a Hong Kong company. However, the individual directors must at least 18 years old.
Company Incorporation Process
If you have decided to set up a Hong Kong private limited company, please find the enclosed “Company Set-up Form” Questionnaires and fill in the basic information for the proposed company such as company name, list of shareholders and directors.
The completed questionnaires please email to info@man-cheong.com, we will contact you for the company formation.
(2) Maintenance of Hong Kong Limited Company:
After the formation of Hong Kong limited company, there were a series of company duties that must be done for every year, such as:
– Bookkeeping and accounting
– Auditing
– Tax filing
For the company itself, the company is required to file annual return to Companies Registry, conducting annual general meeting, etc. for every year.
We offer routine company secretary services in order to aid your company fulfil the required company responsibilities within the prescribed time limit.
Regular Company Secretary Services:
（3）Hong Kong Business Guide
Hong Kong just like most of the places in the world, running business in Hong Kong has statutory requirements for paying taxes and fulfilling employees’ rights and benefits. The following is a list of key points for running business in Hong Kong:
- Open a bank account
– Obligations to report tax and payment of tax (Profits Tax, Salaries Tax and Property Tax
– Mandatory Contribution Funds for employee
– Employee’ compensation insurance for employee
(4) Other company services :
For enquiries, please contact us by info@man-cheong.com