After identifying the significant controllers in your company, you should enter the content into a Significant Controllers Register, keep it up-to-date, and make it available for inspection. It is important to note that certain details must be included in SCR: • The ‘required particulars’ of every significant controller of the company. The ‘required particulars’ include name, nature of control over the company, …
WHO IS THE SIGNIFICANT CONTROLLER OF A COMPANY?
All companies incorporated in Hong Kong (except listed companies) should identify persons who have significant control over the company (‘significant controllers’) and maintain a significant controllers register (‘SCR’) to be accessible by law enforcement officers. A person has ‘significant control’ over a company if one or more of the following condition are met: • The person holds, directly or indirectly, …
3 WAYS TO BUILD BUSINESS NETWORK FOR AN ENTREPRENEUR
Building relationships and business network is important for starting a business because it can help you to take a step back everything from branding strategy to funding. A good relationship is mutually beneficial, which enables both parties to help each other in an organic way. To build this kind of relationship, only attending business networking events and keeping business information …
HOW TO CONNECT DBS ACCOUNT WITH XERO
If you are using a DBS account, you can link your account to XERO and have your transactions to be reconciled automatically every 24 hour. This way, you can check your invoices’ status to see whether payment has been received or not on your DBS Account. To connect your DBS account, you should: 1. In the Accounts menu, select Bank Accounts, then …
HOW TO CONNECT HSBC ACCOUNT WITH XERO
At Centre O, we work very hard to facilitate the process of serving our clients, including using XERO as accounting cloud-base system to make your finances much easier. By connecting your HSBC Account to Xero, your transactions will be reconciled automatically every 24 hour. Below is the process to connect your HSBC account to XERO: 1. In the Accounts menu, …
THE PERSONALITY TRAITS THAT ENTREPRENEURS MUST HAVE
Entrepreneurship is challenging. Here are five personality traits that you should develop in order to be ready to start and grow your business. Passion Entrepreneurs themselves are the heart of the startup company! Their passion and enthusiasm for work will motivate the rest of the team and drive the company to success. Building a business takes a lot of time …
ACCEPTABLE OFFICIAL DOCUMENT FORMAT IN HONG KONG
Sometimes we have to file relevant official documents to the Inland Revenue Department or the Companies Registry. Sometimes, however, are documents are rejected due to their unacceptable format . Below are a few common cases of unacceptable formats: Some documents are printed 2-sided. Some documents use American Header Paper. Therefore, we want to kindly remind you that all official documents sent …
PROMULGATION OF THE CODE OF PRACTICE FOR EMPLOYMENT AGENCIES
Recently, there have been some updates on the code of practice for employment. Listed below are the main amendments: Increasing the maximum penalty on Employment Agencies (EAs) for overcharging job-seekers or operating without a license Extending the scope of the offence of overcharging job-seekers Extending the statuary time limit for prosecution of the offence of overcharging job-seekers and unlicensed operation of …
OH MY GOD! MY BUSINESS BANK ACCOUNT IS CLOSED!
Hong Kong is a great place to start a business, especially because of its favorable tax code. Yet sometimes there are troubles with maintaining a Hong Kong Company. The sudden closure of your bank account is one of them, as every bank has their own policy and timeline, it can be quite bothersome to deal with this problem. There are up to …
What are the requirements of choosing Company Secretary?
1.Either a HK resident or HK company 2.Sole director cannot be the company secretary Centre O offers annual company secretary service at HKD 2,000 per year to comply with the requirement. We are happy to provide Company Secretary Service to you, contact us at sales@centreo.hk for more details. You may also be interested in these other blog articles: Can an …