Company Secretarial Services is Important for Business in Hong Kong

By: madhulika

Company Secretarial Services
Hong Kong Companies Ordinance stipulates that there must be a legal secretary in the limited company of Hong Kong and can be one of the directors. The legal secretary is served by the local Hong Kong natural or legal person. Supply the legal secretary at the same time, generally provide a registered address and deal travel documents with the government. The legal secretary is equivalent to the spokesmen of the people overseas in Hong Kong, he/she does not have direct control or ownership to the company, but if the company has encountered a problem, the legal secretary should bear certain responsibility.

The main work of the Company Secretary
To attend the general meeting of shareholders and board of directors, and prepare the meeting minutes;
Under the direction of the board of directors, issued a notice to the person who has right to attend shareholders’ meetings and all personnel of the board of directors;
The secretary sometimes should endorse the file and sealed;
Treatment of equity transfer;
Save the meeting records, the register of shareholders, directors and secretaries, register of mortgage roster;
Required to submit the relevant documents to the Registrar of Companies, such as annual reports, change of directors or shareholders notice, etc.

Company Secretary Qualifications according to Hong Kong Companies Ordinance
The company secretary may be a natural person or legal corporate. If the Company Secretary is a natural person, the person must be a Hong Kong resident, and must be over 18 years of age; if the Company Secretary is a legal corporate, the legal corporate must have a registered address or place of business in Hong Kong. The listed company has more stringent requirements on secretary. The secretary of listed companies must be personal rather than legal corporate, and the person must be a member of the British Institute of Chartered Secretaries and Administrators Hong Kong Branch, a lawyer, a barrister or a professional accountant, also must be recognized by the Stock Exchange in the academic and professional qualifications sufficient to discharge its duties.

Legal Secretary to Leave
Under the Companies Ordinance, the Secretary may be asked to resign at any time, but must notify the board of directors, stipulated in the articles of association of the company rules, or the Secretary has other agreement with the company. Companies should notify the Registrar of Companies with the specify format of forms within fourteen days after the resignation of the Secretary.

What is the Difference between Legal Secretary and Commerce Secretary?
The service functions of the legal secretary are different from the commerce secretary. The legal secretary must be present according to the law in registered Limited Company. Legal secretary is not the commerce secretary who deals with the business for us every day.

Restrictions for the Secretary from the board members on the company’s affairs
Secretary can be concurrent by the directors. However, the decisions made by the double identity of the director and the secretary are invalid according to the section 154B of the Companies Ordinance. For example, company has a document need to sign and submit by a director and a secretary, then the file can not be submitted by the individual, who is also Secretary of the directors after the signing of the identity of directors and the secretary identity.

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If you want to register a limited company in Hong Kong, don’t forget to provide a legal secretary. How to get a Hong Kong company secretary? Please contract our company, we can provide you with professional services.

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