IS YOUR PROFESSIONAL COMPANY SECRETARY A QUALIFIED ONE?

COMPANY SECRETARIAL

According to Section 154 of Hong Kong Company Ordinance, every company must appoint a Company Secretary. Along with this article, you can see the importance of a company secretary for every Limited Companies in Hong Kong. In fact, many of the Limited Companies do not know if they have hired a QUALIFIED professional company secretary to help handle documents and work with Company registry on their behalf.  

Owing to the change of name of “The Institute of Chartered Secretaries and Administrators” to “The Chartered Governance Institute”. To clarify, the Company Registry have an updated information related PROFESSIONAL COMPANY SECRETARY listed in details.

Who is Qualified Professional Company Secretary? 

A professional company secretary practicing in Hong Kong means a member of Hong Kong Institute of Chartered Secretaries (HKICS) and The Chartered Governance Institute (CGI). Company secretary must be holding the professional designations of FCG* / FCIS*, FCS* or ACG* / ACIS*, ACS*. 

Nevertheless, since 2018, all company secretaries services providers are required to have a Trust or Company Service Providers License ( TCSP).  

What does a Company Secretary do?

Generally, a company secretary will provide below services:

  • Communication with the Company Registry on Company’s behalf
  • Draw up & keep Statutory Records related to Company Structure
  • Prepare & submit application for Business Registration Certificate
  • Put together & Submit Share allotment documents
  • Arrange Minutes and Resolutions for Directors & Shareholders
  • Filing with the Company Registry

Besides, Company Secretary is responsible for:

  • Obtaining prior approval from the Registrar of Companies (“the Registrar”) to become the TCSP licensee’s ultimate owner, partner or director
  • Reporting changes in particulars to the Registrar
  • Reporting cessation of business to the Registrar
  • Complying with other ongoing obligations of a TCSP licensee, including the statutory requirements relating to customer due diligence and record-keeping.

How does a company secretary charge their fees?

There is a company secretarial service fee applied, together with a client due diligence and on-going monitoring checking fee per year.  Here at Centre O, this yearly cost covers unlimited changes of the company structure, changes of directors and shareholders or related members information.  Unless the company is changing persons or company within, there will be a client due diligence and on-going monitoring fee chargeable to the new director, shareholder or entity.

For further information, please contact us. 

You may want to read: COMPANY SECRETARIAL SERVICES FOR A HONG KONG LIMITED BUSINESS

Subscribe