Key Takeaways
- Company Secretarial services is also known as Company Secretary services.
- Company Secretary is a compulsory role for all Hong Kong limited liability companies.
- Companies appoint Company Secretary to handle legal and compliance matters, such preparing board resolution, and annual return filing.
- Corporate service providers need to have a TCSP license in providing company secretarial service.
What are Company Secretarial Services in Hong Kong?
A Hong Kong company must have a company secretary as per Section 474 of the Hong Kong Companies Ordinance. Company secretarial services include guiding directors to set up the company, and to prepare the necessary resolutions to fulfil the company laws.
This is more than a statutory requirement. A corporate service provider can support a company to operate efficiently. For example, a Hong Kong company must deliver the annual return NAR1 to the Companies Registry every year. The document cannot be filed in advance, but if the company is late for filing, a penalty will apply. It is common for first time business owners to forget the date of filing and end up paying a substantial amount of penalty. Hence, the Hong Kong Government requires every company to appoint a company secretary for compliance.
What are the qualifications of a Hong Kong Company Secretary?
To provide Company Secretarial services in Hong Kong, the corporate service provider must hold a TCSP license. You can verify whether your company secretary is a licensed agency from the Government website. Alternatively, you can also search the keyword “Trust or Company Service Provider” and browse the full list.
What are the requirements for acting as the Company Secretary?
The corporate service provider shall be a TCSP license and the company staff will normally hold a license issued by the Hong Kong Institute of Chartered Governance (previously known as HKICS) or the Certified Public Accountants Association (CPA). By holding these relevant licenses, it indicates that the person has a solid understanding of the company ordinances and tax regulations in Hong Kong.
General duties under the Company Secretarial Service
Depending on the agreement, the corporate service provider can guide directors in preparing and submitting board resolutions in various matters, including but not limited to, director appointments, director removal and share allotments.
A professional company secretary can also guide the director how to call a general meeting. For example, a general meeting, other than an adjourned meeting, must be called by notice of at least 14 days. If it is in the case of an AGM, the notice must be of at least 21 days. Hiring a Hong Kong local, who holds a license issued by the Hong Kong Institute of Chartered Secretaries (HKICS) or the Certified Public Accountants Association (CPA), can support your company to comply with basic legal requirements and operate efficiently.
Advantages to appoint Get Started HK as your Company Secretary
Get Started HK Limited can be your perfect solution for company secretary matters. Our staff hold valid licenses issued by the Hong Kong Institute of Chartered Secretaries (HKICS) or the Certified Public Accountants Association (CPA). All legal matters are handled and advised by qualified professionals residing in Hong Kong.
How much is it to appoint Get Started HK?
Our company secretarial service fee is HK$1,400 per year. If you are not satisfied with your current service provider, and want to try our professional support, the procedure is simple. All you have to do is to email our team at info@getstarted.hk. We will pass you a resolution. You sign and scan the copy. We will arrange the changes with the Hong Kong government. Entire process can be completed as fast as 3 business days.
Frequently Asked Questions
1. What is Company Secretarial service?
Every company needs to have a company secretary as per Section 474 of the Hong Kong Companies Ordinance. This is a compliance role and the company secretary helps companies comply with basic regulations.
2. What is the difference between Company secretary and Chartered Secretary?
Although “Company Secretary” may sound like a role held by an individual, it is often performed by a corporate service provider offering compliance services. In contrast, a “Chartered Secretary” refers to a qualified professional, someone who has studied legal and accounting disciplines and typically works within a company secretarial firm.
3. How does a General Secretary differ from a Company Secretary in legal terms?
A general secretary typically handles administrative tasks such as answering phone calls and taking notes. In contrast, a company secretary focuses on corporate compliance, ensuring that a business adheres to legal and regulatory requirements in Hong Kong.
4. What exactly does a Company Secretary do?
Depending on the agreement, the company secretary can guide directors in calling general meetings, preparing and submitting board resolutions in various matters, including but not limited to, director appointments, director removal and share allotments.
5. How can I get a Company Secretary for Company Secretarial Services?
If your Hong Kong company needs reliable Company Secretarial Services, Get Started HK is the right partner to support you. We offer annual packages starting from just HK$1,400 per year, providing a qualified Company Secretary for your Hong Kong Limited Company. This ensures your business stays compliant with all statutory requirements and government filings – all handled remotely for your convenience
6. Can I change my Company Secretary?
Yes. You can change your Company Secretary by passing a board resolution and filing the required notices with the Hong Kong Companies Registry. These filings can be submitted either in paper form or online. That being said, as the change must be reported within a specific statutory timeframe, you are highly recommended to work with a professional firm like Get Started HK to ensure everything is handled correctly and on time. With Get Started HK, the change of Company Secretary can be done in 3-5 business days.
7. Can a non-HK resident be a Company Secretary of a Hong Kong Company?
No. As required by the HK Company Ordinance, the Company Secretary of a Hong Kong Limited Company by shares should be either an Ordinarily Resident in Hong Kong, or a Trust or Company Service Provider (TCSP) licensee. Please note that Company Secretarial service is not an administrative role, and it normally suggests one to have professional knowledge and experience in Hong Kong Corporate Governance, Accounting or with a legal background.
It is not legally required to keep your Company Secretarial Service and office address under the same service providers. However, to ensure statutory filings can be promptly addressed when any government letter arrives, most clients choose to keep their Company Secretary and Registered Office address under the same service provider like with Get Started HK. This allows us to monitor incoming notices and take timely action, ensuring your company remains fully compliant with the Companies Registry.
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