What information will your TCSP licensed Company Secretary need to meet the Company Registry’s Compliances?

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2020-12-11

What is the new Company Registry Compliances?

Since 1st March 2018, Hong Kong has implemented a new licensing regime for trust or company service provides (TSCPs). The commencement of Part 5A of the Anti-Money Laundering and Counter Terrorist Financing Ordinance (Cap 615) (AMLO). Therefore, when choosing a Company Secretary in Hong Kong. You have to ensure your Company Secretary have a valid TCSP License. If you are using a service from a non-licensed Service Provider, then you and your company may in trouble.

All the Company Secretaries and the other Service Providers have to comply with the TCSP requirement. In fact, they have to satisfy the statutory Customer Due Diligence (CDD) and record keeping requirement.

What information will your TCSP licensed Company Secretary will need to meet the Company Registry’s Compliances?

Centre O provides Company Secretary Service and with a valid TCSP License. We conduct and keep updating CDD for all our clients, including the following:

  • Preparation of CDD form and arranging of on-going monitoring
  • Keeping a record of Passport/HKID and Address Proof copies of all the Directors, Beneficial Owners and Significant Controllers of a company.
  • Significant Controller is a shareholder holding 25%+ of the shares of a company
  • Obtaining and maintaining up-to-date beneficial ownership information by way of keeping a Significant Controllers Registers.
  • Appointment of Designated Representatives for Significant Controllers Registers assistance and reflecting their contact details in the Registers.

How We handle Your Data?

On the whole clients are providing all the information and data; Centre O will keep it throughout the continuance of the business relationship. And a period of 5 years after the end of the business relationship. The practice is fulfilling the requirements of the AMLO and Hong Kong Personal Data Privacy Ordinance as well.

For further information, please contact us.

You may want to read: COMPANY REGISTRY IN HONG KONG HAS SANCTIONED APPROXIMATELY 1 IN 4 FIRMS DURING ANTI-MONEY LAUNDERING INSPECTIONS ON 1,800 TCSPS LICENSED OPERATORS

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