FAQs about Company Secretarial Services
1. What is a company secretary?
A company secretary, also known as a company secretary, is an official responsible for communicating with the government, legal bodies, directors and shareholders of a company. (e.g. Companies Registry, IRD, SFC and Stock Exchange of Hong Kong). The company secretary is appointed by the directors of the company to ensure that the organization complies with the rules.
2. What are the duties of a company secretary in Hong Kong?
The general role of the company secretary is to ensure that the company complies with the rules and regulations, including organizing meetings of directors and shareholders.
The following are some of the other main duties of a company secretary:
- Receive all government correspondence
- Assist in the preparation and filing of annual returns
- Manage the registration of shareholders and directors
- Maintain records of appointments and resignations of directors
- Prepare agendas and minutes for board meetings and annual general meetings
- Assist in the issuance and transfer of stock certificates
- Verifying company cancellation registrations
- Maintaining statutory books of account
3. Why is a company secretary so important to your business?
A competent company secretary is vital to the success of a company because their primary responsibility is to ensure that the company complies with all laws and regulations relating to the operation of the business. If the company secretary is not fully familiar with the relevant Hong Kong rules and company law, the company may not comply and may incur penalties and fines from the government.
4. When should I appoint a company secretary?
The appointment of the company secretary must start from the date of incorporation of the Hong Kong company. The company secretary will be mentioned in the certificate of incorporation of the Hong Kong company. 5.
5. Who can be appointed as a company secretary in Hong Kong?
According to section 474(4) of the Laws of Hong Kong. According to section 474(4) of the Hong Kong Companies Ordinance, Cap. 622, a professional company secretary in Hong Kong must meet the following criteria:
- A body corporate acting as company secretary: the company must have its registered office address and place of business in Hong Kong.
A natural person acting as a company: The person must be a Hong Kong resident of at least 18 years of age.
If your company is a listed company in Hong Kong, you can only appoint an individual as the company secretary. According to the Hong Kong Stock Exchange (Listing Rule 3.28), the individual must meet some of the following requirements:
- Have sufficient experience as a company secretary and be familiar with the listing rules of the jurisdiction in which he/she operates.
- The individual should be a member of the Hong Kong Institute of Chartered Secretaries.
- The individual may be a solicitor or a certified public accountant.
Whether the person is an individual or a corporation, from March 2018, company secretaries in Hong Kong must hold a TCSP license.
6. What qualities should I look for when choosing a company secretary?
There are 4 main qualities that you should look for:
- Qualifications and experience in corporate governance
- In-depth local knowledge and world experience
- A broad range of services tailored to your company’s needs
- The ability to work with your company to progress
For more information, please read our blog. Everything you should know before choosing a company secretary
7. Why should I appoint FastLane as my company secretary?
FastLane Group provides a full range of professional company secretarial services, such as filing annual returns, providing a registered address and acting as your company secretary.
Familiar with Hong Kong company laws and regulations
Since we are familiar with Hong Kong company laws and regulations, we have accumulated extensive experience in helping local and international companies comply with Hong Kong’s statutory obligations, you will no longer need to worry about keeping your statutory obligations up to date. We will conduct all government filings and requirements on behalf of your company to ensure that your company is in good standing with the Hong Kong government and its related agencies.
Unleash yourself and build a better business
By acting as your company secretary, our knowledge and expertise will allow you to focus on your favorite part of the business and leave the administrative and back office activities to us. We can provide a registered office address during your incorporation process and facilitate the effective establishment of your company.
8. Can I change my company secretary?
Yes, you can. If you choose to change your company services to Wingate, we will facilitate an easy transfer of responsibilities. We will take over all documents and registers from your current vendor and handle all necessary paperwork on your behalf. We guarantee a seamless transition.
9. How do I transfer my company secretary to FastLane?
This is the easiest part. It is free of charge and all you need to do is schedule a meeting with our Engagement Team and we will guide you through the process.
