When you decide to open a limited liability company in Hong Kong, one of the main requirements is having a resident secretary.
The secretary is given so much weight by the company registry because she forms the bridge between the Hong Kong administration and the company as well as implementing the board decisions. Therefore, you must get the right secretary before anything else can commence. In this posit, we focus on how to select the right company secretary.
Before, setting out to look for a secretary, it is prudent to understand what his/her duties will be.
Duties of as company secretary
- Communicating on behalf of the company with the Company Registry
- Preparing and maintaining statutory records.
- The secretary arranges and attends all meeting of directors, shareholders, and prepares the minutes.
- Prepares and submits all statutory documents.
- Applies for the business registration certificate.
- Offers appropriate advice in case of business liquidation or bankruptcy.
- Deregisters the company and suspends all applications for activities.
For people who do not take the roles and position of a secretary serious, the repercussions can be very dire under the Crown Prosecution Service.
Who can become a company secretary ?
In theory, the secretary of the business can be the person who starts the business. The proprietor can also serve as the director and carry out all the roles of a company secretary.
However, specific skills are required to perform the duties of the secretary. It is important to ensure that you have all the time to drive the business ahead and the secretary’s duties are not inhibiting.
Note that the secretary does not necessarily have to be the director of your Hong Kong Company. He/she is an office of the company and will share legal responsibilities of directors.
Selecting a company secretary
Any person with good organizational skills and good attention to details can make a great company secretary. Though there are no defined formal educational requirements, it is advisable to look for a person with professional training and experience.
The only people who are restricted from holding the position of a company secretary in Hong-Kong are those with undischarged bankruptcy or company auditor. Besides, most business owners often find themselves less suitable to hold the position because they have monumental roles of driving the vision and ambition of the new company.
The entrepreneurs are good in searching, negotiating, and closing deals. They also put more focus on looking for a new market, dealing with suppliers, and exploring new lines of business operations.
Outsourcing for company secretary
Instead of scratching from the beginning to look for a secretary, why not consider outsourcing? Outsourcing a company’s secretarial tasks is similar to outsourcing other professional tasks.
Selecting professionals with training and experience is ideal. The main advantage of outsourcing is that you get the benefits of industry knowledge and growing their operations as fast as possible. Look for experts such as Accoplus that have made a name for assisting companies to build their establishment in Hong Kong.
Whether you are looking forward to forming a limited liability company or you are a self-employed person looking forward to starting a business, outsourcing secretary services can assist you with advice on company laws, financial & legislation’s requirements, and tailored advice on company structure and operations.