Month: July 2024

Demystifying Hong Kong’s Mandatory Provident Fund (MPF) System: Employer Obligations and Employee Rights

In the bustling business landscape of Hong Kong, the Mandatory Provident Fund (MPF) scheme stands as a fundamental component, ensuring financial security for employees during retirement. For both employers and employees, understanding the intricacies of the MPF system is crucial. Here’s a comprehensive look at the obligations faced by employers and the rights afforded to...

The Mandatory Role of Company Secretary in Hong Kong Companies

When venturing into the business landscape of Hong Kong, aspiring entrepreneurs encounter a crucial requirement: the appointment of a company secretary. This mandatory position holds significant importance, ensuring not only compliance with legal obligations but also serving as a vital link between the company and Hong Kong’s regulatory framework. Let’s delve into the reasons why...

Understanding the Significance of the Significant Controllers Register (SCR) for Hong Kong Companies

In the ever-evolving landscape of corporate governance, Hong Kong companies face new obligations under the Company (Amendment) Ordinance 2018. Since March 1, 2018, every Hong Kong company has been mandated to establish and maintain a Significant Controllers Register (SCR) and appoint at least one designated representative. This requirement serves a vital purpose in enhancing transparency...

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