Starting your own business can be exciting as you get to pursue your interests and make your ideas into reality, at the same time, it comes with responsibilities and tasks on the daily. This includes accounting work, administration tasks, and clerical duties. It can become quite difficult to manage everything at the same time, especially for small businesses and Start-up …
Keeping Your Company Records for 7 years
Do you remember the last time you sorted all of your company records? It can be quite confusing and frustrating keeping track of all of your documents. Nevertheless this is always the last task on your to-do list. According to the Company Ordinance, Section 51C of the Inland Revenue Ordinance requires every person carrying on a trade, profession or business in …
Hong Kong Limited Companies Having Business Activities with Sanctioned Countries
When starting your own business in Hong Kong, there are many things to consider such as regulations and policies. Without the hassle and confusion, we can assist your process of opening a business bank account in Hong Kong. Centre O offer commercial bank account introducing services, short listing of which bank(s) to approach, walking you through the whole procedure of company …
Designated Representative of a Hong Kong Company
Other than identifying and keeping the Significant Controllers Register, the Hong Kong companies are also required to designated a representative for its company under the Companies Amendment Ordinance 2018. According to the “Guideline on the Keeping of Significant Controllers Register“, Section 2.7 also pointed out a company must designate at lest one person as its representative to provide assistance relating to …
Obligation for Hong Kong Companies to Maintain Significant Controllers Register
Any Hong Kong incorporated companies are required to maintain a Register of Significant Controllers by taking reasonable steps to identify its significant controllers. From 1 March 2018, all Hong Kong incorporated companies, except for those companies that are listed on the Hong Kong Stock Exchange, are required to maintain a Register of Significant Controllers (the ‘SCR’), which will be accessible to the …
Companies Ordinance 2018: Keeping of Significant Controllers Register
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 …
Emily Knapp, Accounting Intern @ Centre O
Hello Everyone! My name is Emily Knapp and for the past two months I have served as an Accounting and Bookkeep Trainee at Centre O. I am about to begin my fourth year of accounting studies at the University of Texas in Austin, Texas, but travelled to Hong Kong to grow my technical skills, broaden my cultural horizons, and …
HOW TO APPLY TO BECOME A NOTARY PUBLIC
You’ve passed your test, been 7 years a solicitor, and gotten your letter? Now it’s time to begin the application process by requesting your Letter of No Objection. No, you can’t just apply to become a Notary Public. First, you have to state your case to the Society of Notaries that you’re fit to even try. The Letter of No …
REQUIREMENTS TO APPLY TO BECOME A NOTARY PUBLIC
Before submitting your applications, there are several requirements an aspiring notary must complete. The Legal Requirement To most small businessmen and women tempted by eye-watering fees, this requirement is the most exclusionary. In order to even be eligible to submit an application, you must fulfill two requirements. First, you must have an aggregate total of seven years of experience working …
HOW TO BECOME A NOTARY PUBLIC IN HONG KONG
If you own a small business, you might occasionally need documents notarized. After seeing the price tag on their services, though, it might be tempting to change industries. Their fees often can get up to the HK$1000s for as little work as a single signature. The process of becoming a notary public, and joining their society, reveals why: it is …