Dear Valued Clients,
The Companies (Amendment) Ordinance 2018 will come into effect on 1 March 2018.
New requirement under the Amendment Ordinance
All Hong Kong companies formed and registered under the Companies Ordinance are required to keep the SCR, including –
•Companies limited by shares
•Companies limited by guarantee
•Unlimited companies
We attach a copy of the Companies Registry External Circular No. 2/2018 for your attention.
Designated representative and maintaining the SCR
According to the law the company must designate at least one person as its representative to serve as a contact point for providing information about the SCR and related assistance to the law enforcement officers. As we are the company secretary and maintainstatutory records of the company, we recommend our company secretary be appointed the designated representative for purposes of the SCR. We will assist the company to maintain the SCR and liaise with law enforcement officers. If you wish to appoint your own designated person please let us know. A company’s designated representative must be one of the following:-
•A member, director or an employee of the Company who is a natural person resident in Hong Kong;
•An accounting professional, a legal professional or a Trust or Companies Service Provider (TCSP) licensee as defined in the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, Cap. 615
Our fee for the appointment as designated representative is USD385 and our annual renewal fee as a designated representative is USD385 each year.
New Standard Terms and Conditions for Provision of Corporate Services
We also take this opportunity to advise that Portcullis has introduced standard Terms and Conditions for Provision of Corporate Services which we have attached here for reference. Please note that these Terms and Conditions will apply to all HK companies administered by us and will have effect from the 1stof May 2018. Please do contact your Relationship Manager if you require clarification.
If you have any further queries, please feel free to contact our representative or email to [email protected].
PORTCULLIS GROUP
portcullis.group
