Companies (Amendment) Ordinance 2018
To enhance transparency of corporate beneficial ownership, a company estalblish in Hong Kong to obtain and maintain up-to-date beneficial ownership information by way of keeping a Significant Controllers Register pursuant to that amendment ordinance. Law enforcement officers from Company Registry, Customs and Excise Department, Hong Kong Moneary Authority, Hong Kong Police Force, Immigration Department, Inland Revenue Department, Insurance Auhority, Independent Commission Against Corruption and Securities and Futures Commission will have access to the Significant Controllers Register.
According to the Guideline on the Keeping of Significant Controllers Registers by Companies, a person has significant control over a company if one or more of the following 5 conditions are met:
All company must designate at least one person or corporate as its representative to provide assistance relating to the copany's SCR to a law enforcement officer mentioned above.
Designated Representative must be on of the following:
Significant Controllers Register (SCR)
Company should enter the particulars of Significant Controllers and Designated Representative into SCR within 7 days after company identified the significant controller. The required particulars state as below:
If registrable person is a natural person:
The required particulars for a registrable legal entity :
In addition, company must keep a SCR even if it does not have a registrable person or a registrable legal entity.If the company knows that it has no registrable person or registrable legal entity, it must state this fact in the SCR. You may click here to see Annex C of Companies (Amendment) Ordinance and find out the examples of additional matters to be noted in SCR.
Company Secretary Service
Accounting & Taxation
About LIK TIN CENTURY