One of the main requirements for opening and running a company in Hong Kong is that you should have a company secretary. This position is so important that your company registration will be declined if you do not have the right person. A secretary is a senior officer in a company registered in Hong Kong and is responsible for ensuring the operations are done in compliance with the Companies Ordinance and other policies on the island.
Getting a brilliant company secretary for most entrepreneurs can be lengthy and expensive, especially for foreigners. The process of running ads, conducting interviews and narrowing down to the right candidate is also pretty complicated. Even companies that are already established in Hong Kong still find it a challenging task to get the right candidates. One of the best alternative methods to use is working with a corporate secretary service in Hong Kong.
Keep reading to learn more about the roles of a company secretary in Hong Kong and the benefits of using corporate services.
What is the Role of a Company Secretary In a Hong Kong Company?
According to the Companies Ordinance, a company secretary can be a person who resides in Hong Kong or a registered corporate entity. The main role of the secretary is to help bridge your company with the government. If any department of the government, such as the Inland Revenue Department (IRD) wants to check documents related to tax returns, it is the company secretary who will be contacted. Other roles of a company secretary include:
- Maintaining and updating your company’s statutory books.
- Organizing, attending, and taking minutes of the company’s board meetings.
- The secretary is also responsible for ensuring that the resolutions of the board are implemented in line with the Companies Ordinance.
- You can ask the secretary to help prepare and store the significant controllers’ register.
- If your company is listed on the Hong Kong Stock Exchange (HKEX), the company secretary will help you navigate through the compliance requirements, including the recent sustainability reporting guidelines.
- If the company decides to wind up operations in Hong Kong, the company secretary oversees the process of liquidation.
Why You Should Work with a Corporate Secretary Service in Hong Kong
A corporate company secretary acts like a pillar that your company can lean on not just for compliance but also to grow to the next level. Here are other benefits that you should anticipate:
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You Can Easily Get the Best Company Secretary
When opening a company in Hong Kong, entrepreneurs are always looking for ways to keep costs low. Therefore, instead of running multiple ads that can easily pile up the cost of operations, corporate secretary service Hong Kong allows you to get the best without having to do interviews. You can also use the services as your company address to pull down the cost further.
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Corporate Services Have the Best Professionals
The work of guiding compliance in a company requires top-notch qualifications and a lot of experience. Corporate secretary service Hong Kong offers both to guarantee your company excellent performance. Having been in the Hong Kong market for years, the experts will also be there to help you craft the best policies for rapid growth.
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Agencies for Corporate Secretary Service Hong Kong also Offer Other Executive Functions
In addition to corporate secretary service in Hong Kong, the agency you select will be there to help with other executive functions. The idea is to ensure that you get the best services and value for money. For example, most experts will be there to help with company registration, payroll, and accounting services.
As you can see, the company secretary plays a critical role in company operations in Hong Kong. Therefore, you should select and work with the best company secretary service in Hong Kong for assurance of outstanding results. One of the top-rated agencies for executive functions is MBiA. Contact them now for help with corporate secretary services.
