Every company in Hong Kong, except for listed companies, needs to have a so-called ‘Significant Controller Register’ in place that will identify the beneficial owner(s) of a Hong Kong company. This is a rule that was introduced in Hong Kong as per 1 March 2018 through the Companies (Amendment) Ordinance 2018. Why a Modernization of […]
The Hong Kong Inland Revenue Ordinance (“IRO”) imposes strict requirements for individual returns filings and aims at avoiding the filing of incorrect tax returns by the individuals. If those requirements are not met, the relevant punitive provisions empower the Commissioner of Inland Revenue, depending on: The nature and/or the degree of culpability of the offence […]
Until the 2nd of March 2014, section 4 of the previous Hong Kong Companies Ordinance Cap. 32 (‘Cap.32’) required every company incorporation in Hong Kong to have a signed Memorandum of Association (the ‘Memorandum’), whereas section 9 of Cap. 32 allowed a company limited by shares (e.g. a limited company) to register together with its […]
There have been a recent increase in the number of fraudulent emails also called phishing emails. A fraudulent email is a method used by the hackers/fraudsters to lure you into providing your personal information/account data and transferring monies into a fraudulent account. The on of the most common types of frauds are fraudulent email schemes. […]
