Why do I need a Company Secretary in Hong Kong?
As per Section 474 of the Hong Kong Companies Ordinance, a Hong Kong company must have a company secretary.
Appointing a company secretary is more than a statutory requirement. A professional company secretary can offer you comprehensive support which allows your company to operate efficiently without physical presence in Hong Kong.
For example, a Hong Kong company must deliver an annual return NAR1 form to the Companies Registry every year. The document cannot be filed in advance. However, if the company is late for filing, penalty will apply. From our experience, many company owners forget the date of filing and end up paying a substantial amount of penalty. So appointing a professional secretary can avoid this type of issue.
What are the qualifications of Hong Kong Company Secretary?
The government has introduced a licensing mechanism (TCSP: Trust or Company Service Provider) to monitor the performance of service providers. Every company shall verify whether the service provider is a licensed agency before engagement. Name of Licensee can be found at https://www.tcsp.cr.gov.hk/tcspls/index
In addition to being a licensed TCSP, a company secretary must be:
- an individual who is a Hong Kong resident; or
- a body corporate with a registered office in Hong Kong.
How to appoint a Company Secretary in Hong Kong?
Directors can appoint, switch or remove a company secretary. Get Started HK has a dedicated team of chartered secretaries recognized by Hong Kong Institute of Chartered Secretaries (HKICS) and practising accountants (CPA).
Our team is highly business oriented. We deliver a variety of tasks which are crucial to the smooth running of your private limited company. We ensure that your company complies with the company law, rules, and regulations of Hong Kong.
If you want to switch to our company secretarial service, the process is simple and straightforward. There are three steps.
- Sign and scan us a written resolution.
- We will contact your existing secretary to retrieve your company documents.
- Appointment can be completed as fast as 3 business days.
How much is it to appoint Get Started HK as my Company Secretary?
Our parking service is only HK$1,100 year. The appointment process can be as fast as 3 business days.
If you are interested in using our service, you can contact our HK company formation expert at firstname.lastname@example.org.
Filing Annual Return Form ( NAR1) to the Companies Registry
A Hong Kong company must deliver its annual return NAR1 form to the Companies Registry for registration within 42 days after the anniversary date of the company’s incorporation in that year. It is an offence if the company fails to deliver the document within the prescribed time period. From our experience, many owners will forget the date of filing and they end up receiving a substantial amount of penalty from the Hong Kong Government.
Notice of General Meeting
To call a general meeting, Companies in Hong Kong needs to observe some basic rules as per section 571 of Companies Ordinance. 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.
If a company’s articles require a longer period of notice, a general meeting must be called in accordance with that period. However, in the event of a short period of notice, i.e. shorter than either the periods stated above or the period required by the company’s articles of association, the meeting is still to be regarded as duly called if it is agreed by all members entitled to attend and vote at the meeting (*AGM).
Manner of Notice
A Hong Kong limited company must give notice of the meeting in hard copy or electronic form, or by making the notice available.
Notification That A Written Resolution Has Been Passed
All members are required to agree to a written resolution . Shareholders’ decision must be unanimous. If the resolution is passed, the company must then, within the next 15 days, send notice of this fact to every member of the company.