The Companies Ordinance (Cap. 622) is the principal piece of legislation that governs the formation, operation, and governance of companies in Hong Kong. It applies to a variety of companies, including [...]
All companies incorporated in Hong Kong, as well as non-Hong Kong companies that operate within Hong Kong, must comply with the provisions of the Companies Ordinance. This includes fulfilling requirements related [...]
The Companies Ordinance aims to: Enhance corporate governance standards. Ensure transparency in company operations. Protect the interests of shareholders and creditors. Establish a framework for the formation and operation of companies. [...]
Some of the key amendments include: Updated requirements for registering companies and maintaining a registered office. Stricter obligations for directors, particularly regarding financial disclosures. Reforms to improve corporate governance, especially in [...]
The ordinance outlines several responsibilities for company directors, including: Acting in the best interests of the company. Maintaining accurate financial statements. Holding Annual General Meetings (AGMs). Filing annual returns with the [...]
Non-compliance can result in: Monetary fines. Legal action. Disqualification of directors. Being struck off the Companies Registry. These penalties can cause significant financial and reputational harm, making it crucial for companies [...]
All companies incorporated in Hong Kong are required to undergo annual audits. The audit must be conducted by a qualified auditor registered with the Financial Reporting Council. The audit ensures that [...]
The ordinance requires companies to: Maintain accurate and up-to-date records, including financial statements and shareholder information. File annual returns and financial statements with the Companies Registry. Disclose the interests of directors [...]
Listed companies must adhere to stricter compliance standards under the Companies Ordinance, particularly regarding financial disclosures and corporate governance. These measures are crucial for maintaining investor confidence and upholding market integrity. [...]
To register a subsidiary, the parent company must: Decide on the type of subsidiary (e.g., private limited company). Prepare and submit the required documents, such as the articles of association, along [...]