Incorporating a company in Hong Kong is one of the greatest decisions that an investor can make. The jurisdiction is very attractive to investors because of the stable political system, stable financial sector, subtle tax regime, and support from the government.
To incorporate a company, one of the most important requirements is a company secretary. Here is everything investors need to know about company secretary.
Why is the company secretary very crucial?
The company secretary is an important position in a company because the holder defines governance operations. Governance means the way a company is directed and controlled.
It also includes the development of operational strategies and decision making as well as how to achieve the business core objectives. The secretary ensures that the business follows all the laid legal procedures and operates ethically.
The selected secretary should have the right skills to help in executing the wide mandate. These include governance, law, corporate law, strategy and corporate secretarial practice skills to enable him to advise the company CEO, chair, and even non-executive directors.
Where exactly do company secretaries work?
Company secretaries can work in many areas. The main one is limited liability companies. In Hong Kong, this is a position created under the Company Ordinances that requires the secretary to help every company operate within the law.
The company secretary should be a resident in Hong Kong.
Other areas that company secretaries can work in include not-for profit organizations, public organizations, and professional bodies. Their diverse skills make them better placed to streamline key organizations for appropriate decision making. Today, top executives are even hiring company secretaries as personal assistants to ensure they have the right brains for better decision making.
The main roles of company secretaries
The roles of as company secretary differ depending on the company he/she works in, the level of the job, and size of the organization. However, the main roles include the following;
- Assisting the CEO of the organization and board on their roles under the country laws. These regulations could also be subject to professional bodies guidelines.
- The secretary helps the board of directors to ensure it discharges its duties efficiently. This is very crucial to ensure the roles do not conflict.
- He/she is required to facilitate proper flow of info within the company’s board, committees, and non-executive directors. This role helps an organization to remain on course to faster growth and success.
- Facilitating good relationship between all stakeholders in an organization.
- Creating and guiding compliance in systems to ensure that there is total compliance with statutory requirements at all levels.
- Maintaining statutory books and records of the organization and producing them for checkups when required by different agencies.
The company secretary salary
Just like other jobs, the company secretary job’s salary is dependent on a number of factors. A secretary for a large company with multiple committees and a very active board is likely to earn a bigger salary compared that of a smaller firm. Top multinational secretaries earn a lot of money that could also come with multiple allowances.
The secret to getting a company secretary job in top firms is ensuring you have the right skills and facilitating growth in every company you go to. This way, every company will be looking for your signature to join it for similar growth.