Planning to open a business in Hong Kong? If the answer is “yes,” you are on the right path to growing the enterprise into a multinational. To achieve the goal, you need to do a couple of things, including incorporating the company and having a business address. However, it is the company secretary requirement that is more conspicuous.
According to the Companies Ordinance, the company secretary is a senior officer who acts as the primary bridge between the company and the Hong Kong authorities. The secretary must be a Hong Kong resident and be qualified to take the position.
Understanding The Duties Of A Company Secretary
Before we can look at the best strategies for growing your business with a company secretary, it is important to appreciate that their roles are both statutory and administrative. Here are some of them:
- The secretary stores all statutory records of a company and provides them for inspection when required by Hong Kong authorities.
- He reproduces reports and accounts for shareholders.
- Prepares and attends the company’s board meetings.
- Applying for a business registration certificate.
- Responsible for updating the records on business documents.
- Advising the company’s board on legal compliance.
Working With A Company Secretary To Grow Your Business
Now that you know the company secretary’s roles, here are some strategies that you can use to achieve the anticipated success:
Bring The Company Secretary As Early As Possible In The Company Cycle
Although the process of company registration in Hong Kong is simplified so much, we must say that the documents required are still many. However, the process can be a lot simpler if you select an agency to serve as the company secretary. The agency will help you to draft most of the documents, and register the business for you.
Include The Secretary’s Input When Making Business Decisions
Because the company secretary is required by law to be part of the board meeting, you have the opportunity to use his expertise when making business decisions. Whether you are planning for a merger, or want to start exploring new markets in China, the secretary will help you to see the process clearly.
Use The Company Secretary To Craft Strategies For Startup
Get it right from the beginning, Hong Kong is a business paradise, and a lot of companies are headed there. This implies that you should expect stiff competition, and beating it will require good strategies. This is where your company secretary comes in handy.
If you select a secretary that has been in Hong Kong for some time and helped other businesses to succeed, he can help you craft the best strategies. For example, the agency can help you to study the market and avoid mistakes made by other companies.
A company secretary is dedicated to company formation in Hong-Kong, although a mandatory requirement when opening a business in Hong Kong, presents you with a perfect opportunity to simplify the business registration process and crafting better strategies. Remember to make sure that only the most qualified secretary is selected for your company.