You need to know

WHAT EXACTLY ARE REGISTERED OFFICE SERVICES?

2021-08-30

Centre O provides registered office services in order to help business owners. Companies can avoid the outrageously prohibitive cost of business accommodation in Hong Kong especially during their startup stage. The Registered Office Services include: Prestigious Registered office address Personal, banks and Government mail and small parcels handling with email notification Re-direction Services via local or international courier Letters opened, scanned and …

COMPANIES IN HONG KONG WITH FOREIGN PARENT COMPANIES

2021-08-30

IN 2NoneSince 2000, InvestHK and Census and Statistics Department have collaborating to conduct an annual survey. Hence, the most popular type is the companies have their foreign parent companies located outside Hong Kong.  The survey report helps the entrepreneurs better understand the situation of Hong Kong as a leading international business and financial centre. Moreover, Hong Kong is a destination …

2020 STARTUP PROPORTION OF EACH INDUSTRY IN HONG KONG

2021-08-30

Undoubtedly, Hong Kong’s appeal as a startup hub extends to a wide variety of industries. In 2020, the startup proportion includes Fintech, E-commerce/supply chain management / logistics technology and professional or consultancy service had the largest numbers. Startup Proportion Across a Wide Range of Industries 468 Financial Technology (Fintech) 385 E-commerce / Supply Chain management / Logistics Technology 357 Professional …

COMMENCEMENT OF NEW INSPECTION REGIME – PHASE 1

Further the new inspection regime for the Company Register gazette in July. Yet, Phase 1 of a new inspection regime of the Companies Register under the Companies Ordinance (Cap. 622) commenced on 23 August 2021. From 23 August 2021, companies may withhold from public inspection the usual residential addresses of directors and full identification numbers (“IDNs”) of directors. Moreover, company secretaries as contained …

FEATURES OF NON-LOCAL FOUNDERS/STARTUPS IN HONG KONG

2021-08-29

The annual survey from InvestHK and Census and Statistics Department has another target population. Now we are going to discuss another survey findings about the non-local founders / Startups with origin country/territory.  What is the features of Non-Local Founder in Hong Kong Number of Non-Local Founders According to the 2020 survey, a total of 3360 startups in operation. In short, …

COMPANY REGISTRY REQUIREMENT ON PAPER STANDARD WHEN FILING HARDCOPIES OF DOCUMENT

Even though e-Registry or electronic submission became prevailing trend. Still some people will file hardcopies of document to Company Registry. If you are one of those, you should keep an eye on the paper standard and requirement.  What is the Paper Standard and Requirement? Plain, white, medium weight A4 paper with matt surface. That is, grammage not less than 76gsm …

NEW INSPECTION REGIME FOR THE COMPANIES REGISTER

The Government gazetted updates to the Companies Ordinance introducing the new address inspection regime for the Companies Register. In addition to this, the new subsidiary legislation will be launched in 3 phases. Correspondence Address Replace Residential Address The subsidiary legislations stipulate that the Companies Registry (CR)’s Companies Register is to make available for public inspection. Hence, directors’ correspondence addresses will replace …

MATERNITY LEAVE REIMBURSEMENT SCHEME IN HONG KONG

2021-07-15

What is the Reimbursement of Maternity Leave Pay (RMLP) Scheme? The Employment (Amendment) Ordinance 2020 (“Amendment Ordinance”) took effect on 11 December 2020. The Amendment Ordinance increases the maternity leave (“ML”) under the Employment Ordinance (“EO”) (Cap. 57) from 10 weeks to 14 weeks.  Other then the first 10 weeks maternity leave pay (“MLP”), the employers are required to pay …

4 MAIN REGISTERS AT THE HONG KONG COMPANY REGISTRY

What are the 4 Main Registers for a Hong Kong Limited Company?  There are 4 main registers: Register of Director(s), Register of Company Secretary, Register of Members and Register of Significant Controllers.  Under the New Companies Ordinance in Hong Kong requires limited liability companies to have a designated Company Secretary. You must to inform the Companies Registry (CR) and Inland …

COMPANY UPDATES THAT MUST BE REPORTED WITHIN 15 DAYS

Every registered company must comply with the requirements of the Companies Ordinance. Also have to deliver statutory returns to the Registrar of Companies within prescribed time periods. Company updates are required to notify Company Registry within 15 days. While some company updates require report within 42 days.   What situation you should report within 15 days after change? Section 658 requires a …