1. What is a company secretary?
A company secretary, also known as a com sec, is an officer responsible for communicating with the government, legal bodies, directors and company shareholders. (eg Companies Registry, IRD, SFC and the Stock Exchange of Hong Kong).
The company secretary is appointed by the directors of the company to ensure that the organization follows the rules.
2. What are the duties of a company secretary in Hong Kong?
The general duties of the company secretary are to ensure that the company complies with regulations, including organizing meetings of directors and shareholders.
Below are some of the other key duties of a company secretary.
- Receive all government letters.
- Assist in the preparation and filing of annual returns.
- Manage the registration of shareholders and directors.
- Keeping records of director appointments and resignations
- Prepare agendas and minutes for board meetings and annual general meetings.
- Assist with the issuance and transfer of shares.
- Verify company deregistration.
- Maintenance of statutory books of accounts.
3. Why is a company secretary so important to your business?
A competent company secretary is essential to the success of the company as their main responsibility is to ensure that the company complies with all laws and regulations related to the operation of the business.
If the company secretary is not fully familiar with the relevant rules and company laws in Hong Kong, there is a risk that the company will 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 a Hong Kong company.
5. Who can be appointed as a Company Secretary in Hong Kong?
According to Section 474 (4) of Cap. 622 of the Hong Kong Companies Ordinance, a professional company secretary in Hong Kong, must meet the following criteria:
- A Corporate body acting as the Company Secretary: The corporation must have its registered office address and place of business in Hong Kong.
- Natural person as a company: Must be a Hong Kong resident who is at least 18 years old.
If your company is a listed company in Hong Kong, you can only appoint an individual as a company secretary. The individual has to meet some of the following requirements, according to Hong Kong Stock Exchange (Listing Rule 3.28)
- Having sufficient experience as a company secretary and familiarity with the Listing rules in its operating territory.
- The individual should be a member of the Hong Kong Institute of Chartered Secretaries.
- The individual could be a solicitor or a certified public accountant.
Whether an individual or a corporate, a company secretary in Hong Kong must hold a TCSP License starting from March 2018.
6. What are the qualities I should look for when choosing company secretarial services?
There are 4 major qualities you should look for:
- Qualifications and experience in corporate governance
- In-dept local knowledge and world experience
- A broad service offerings that is tailored to your company
- Ability to progress with your company
For more details, read at our blog: Everything You Should Know Before Choosing Your 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 registered address, and acting as your company secretary.
Familiar with the laws and regulations of Hong Kong companies
Thanks to our familiarity with Hong Kong’s corporate laws and regulations, we have gained extensive experience helping local and international companies comply with Hong Kong’s statutory obligations, and you will no longer have to worry about keeping your statutory obligations up to date. We will carry out all government filings and requirements on behalf of your company to ensure your company is in good standing with the Hong Kong government and its related agencies.
Free yourself to build a better business
By acting as your company secretary, our knowledge and expertise will allow you to focus on the parts of your business that you love most, leaving administrative and back-office activities to us. During your company registration process, we can provide a registered office address and facilitate the efficient establishment of your company.
8. Can I change my company secretary?
Yes, you can. If you choose to change your corporate services to FastLane, we will facilitate an easy transfer of responsibility. We will take over all documentation and registers from your current supplier 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’s free, and all you need to do is schedule a meeting with our engagement team and we’ll guide you through the process.
