{"id":33146,"date":"2020-02-26T12:47:11","date_gmt":"2020-02-26T04:47:11","guid":{"rendered":"https:\/\/zegal.com\/?p=33146"},"modified":"2024-12-27T18:06:52","modified_gmt":"2024-12-27T10:06:52","slug":"roles-responsibilities-of-company-secretaries-in-hong-kong","status":"publish","type":"post","link":"https:\/\/zegal.com\/en-gb\/blog\/post\/roles-responsibilities-of-company-secretaries-in-hong-kong\/","title":{"rendered":"Roles &#038; Responsibilities of Company Secretaries in Hong Kong"},"content":{"rendered":"<div id=\"contentsContainer\">\n<div id=\"contents\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-33155\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2020\/02\/folder-146153_1280-1-1024x754.png\" alt=\"\" width=\"1024\" height=\"754\" srcset=\"https:\/\/zegal.com\/wp-content\/uploads\/2020\/02\/folder-146153_1280-1-1024x754.png 1024w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/02\/folder-146153_1280-1-300x221.png 300w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/02\/folder-146153_1280-1-768x565.png 768w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/02\/folder-146153_1280-1-640x471.png 640w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/02\/folder-146153_1280-1-1200x883.png 1200w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/02\/folder-146153_1280-1.png 1280w\" sizes=\"auto, (max-width: 639px) 98vw, (max-width: 1199px) 64vw, 770px\" \/><\/p>\n<p id=\"E135\" class=\"qowt-stl-Default\"><span id=\"E136\" class=\"qowt-font6-Times\">It&#8217;s really easy to start a company in the laissez-faire economic system of Hong Kong. You can start a company all by yourself. <\/span><\/p>\n<p class=\"qowt-stl-Default\"><span id=\"E136\" class=\"qowt-font6-Times\">All you need are the articles of association, a filled-out application form, a notice to the Business Registration Office of Hong Kong, and of course<\/span><span id=\"E137\" class=\"qowt-font6-Times\">\u2014<\/span><span id=\"E138\" class=\"qowt-font6-Times\">fees. <\/span><\/p>\n<p class=\"qowt-stl-Default\"><span id=\"E138\" class=\"qowt-font6-Times\">In terms of manpower, you&#8217;ll need one director that&#8217;s a natural person (i.e. a living, breathing person), and a company secretary (which can be a <\/span><span id=\"E139\" class=\"qowt-font6-Times\">legal<\/span><span id=\"E140\" class=\"qowt-font6-Times\"> person, like a company). You <\/span><span id=\"E141\" class=\"qowt-font6-Times\">must<\/span><span id=\"E142\" class=\"qowt-font6-Times\"> have a company secretary if you want to incorporate a private company in Hong Kong. In this article, I&#8217;ll set out for you all the basics you need to know about a company secretary<\/span><span id=\"E143\" class=\"qowt-font6-Times\">.<\/span><\/p>\n<p id=\"E144\" class=\"qowt-stl-Default\"><span id=\"E145\" class=\"qowt-font6-Times\">I won&#8217;t be discussing public companies in this article, and companies secretaries in countries other than Hong Kong. There are different rules for Listed Companies and I&#8217;d be genuinely concerned if you&#8217;re the CEO of a large public company and you&#8217;re using this article for information. I have included a useful guide filled with essential information for company secretaries in jurisdictions in Asia<\/span><span id=\"E146\" class=\"qowt-font6-Times\">.\u00a0<\/span><\/p>\n<h3>Role &amp; Responsibilities of Company Secretaries in Hong Kong<\/h3>\n<p id=\"E150\" class=\"qowt-stl-Default\"><span id=\"E151\" class=\"qowt-font6-Times\">Here&#8217;s a quick breakdown of the requirements for a Company Secretary<\/span><\/p>\n<ul>\n<li id=\"E152\" class=\"qowt-stl-Default\"><span id=\"E153\" class=\"qowt-font6-Times\">You must appoint one that isn&#8217;t yourself<\/span><\/li>\n<li id=\"E154\" class=\"qowt-stl-Default\"><span id=\"E155\" class=\"qowt-font6-Times\">Can be a person or any legal entity<\/span><\/li>\n<li id=\"E156\" class=\"qowt-stl-Default\"><span id=\"E157\" class=\"qowt-font6-Times\">Cannot be the sole director of the company<\/span><\/li>\n<li id=\"E158\" class=\"qowt-stl-Default\"><span id=\"E159\" class=\"qowt-font6-Times\">It&#8217;s highly recommended to appoint someone over 18 years of age<\/span><\/li>\n<li id=\"E160\" class=\"qowt-stl-Default\"><span id=\"E161\" class=\"qowt-font6-Times\">Ordinary resident in Hong Kong (or a company that has it&#8217;s registered address in Hong Kong)<\/span><\/li>\n<li class=\"qowt-stl-Default\">The director(s) of the company appoints the company secretary (besides the first one, which you include on the application for incorporation of the company)<\/li>\n<\/ul>\n<h4 id=\"E166\" class=\"qowt-stl-Default\"><span id=\"E167\" class=\"qowt-font6-Times\">Why do you need a company secretary? What do they do?<\/span><\/h4>\n<p id=\"E168\" class=\"qowt-stl-Default\"><span id=\"E169\" class=\"qowt-font6-Times\">It&#8217;s not something that you can get out of. T<\/span><span id=\"E171\" class=\"qowt-font6-Times\">he law requires that each private company appoint a company secretary. However, beyond that, there&#8217;s not a whole lot of legislation that defines the <\/span><span id=\"E172\" class=\"qowt-font6-Times\">specific<\/span><span id=\"E173\" class=\"qowt-font6-Times\"> responsibilities of what one does. Instead, long established rules of practice can guide us. Essentially, the company secretary serves as the head administrator of the company. They are there to ensure that the company records and books required by the law are well kept and up to date, and to also ensure that the company is wholly compliant with the laws and regulations of Hong Kong.<\/span><\/p>\n<p id=\"E174\" class=\"qowt-stl-Default\"><span id=\"E175\" class=\"qowt-font6-Times\">The company secretary also serves as the liaison officer between the government and the company when matters arise between those two parties. This means that anyone who serves in this role should be knowledgable with regards to the intimate workings of the company. They need to be familiar with Hong Kong company law and regulations, and both personally and professionally responsible. Take care when appointing a company secretary, as the continual existence of the company is dependant on them.<\/span><\/p>\n<h4>Additional duties<\/h4>\n<p id=\"E176\" class=\"qowt-stl-Default\"><span id=\"E177\" class=\"qowt-font6-Times\">Company secretaries also have other essential responsibilities that extend to decision making, governance, and administration process. This means that not only are they there to perform administrative duties, but arguably are compelled to give sound advice on matters pertaining to their duties to the director(s) of the company. In fact, in a recent report by the Hong Kong Market Misconduct Tribunal, Justice Hartmann said that an essential duty of the company secretary was &#8220;to give advice to the chairman and the board to ensure that the company complied with all the rules of good corporate governance was central to her responsibilities&#8221;.<\/span><\/p>\n<h4 id=\"E178\" class=\"qowt-stl-Default\"><span id=\"E179\" class=\"qowt-font6-Times\">So who should you appoint? <\/span><\/h4>\n<p class=\"qowt-stl-Default\"><span id=\"E179\" class=\"qowt-font6-Times\">In most cases, your company will likely be a smaller organisation <\/span><span style=\"font-size: inherit;\">without a huge amount of paperwork or compliance issues. In this case it would be acceptable to appoint someone that you know is responsible. However, you might be in a position where your company conducts a great many complex business transactions. In cases like this, it&#8217;s best to appoint someone who is accredited by the The Hong Kong Institute of Chartered Secretaries (or equivalent body in your jurisdiction).<\/span><\/p>\n<\/div>\n<\/div>\n<div id=\"contentsContainer\">\n<div id=\"contents\">\n<h4 id=\"E181\" class=\"qowt-stl-Default\"><span id=\"E182\" class=\"qowt-font6-Times\">Here are some of the numerous duties of a company secretary<\/span><\/h4>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li id=\"E183\" class=\"qowt-stl-Default\"><span id=\"E184\" class=\"qowt-font6-Times\">Maintaining the company<\/span><span id=\"E185\" class=\"qowt-font6-Times\">\u2019<\/span><span id=\"E186\" class=\"qowt-font6-Times\">s statutory books, including:<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul style=\"list-style-type: circle;\">\n<li id=\"E187\" class=\"qowt-stl-Default\"><span id=\"E188\" class=\"qowt-font6-Times\">a register of present and past directors and secretaries<\/span><\/li>\n<li><span style=\"font-size: inherit;\">and a register of all shareholders, past and present and their shareholdings<\/span><\/li>\n<li><span id=\"E192\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">a register of any charges on the company<\/span><span id=\"E193\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">\u2019<\/span><span id=\"E194\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">s assets<\/span><\/li>\n<li>minutes of general meetings and board meetings<\/li>\n<li>a register of the debenture holders (typically banks)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li><span id=\"E200\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">Filing<\/span><span id=\"E201\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">\u00a0<\/span><span id=\"E202\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">annual returns. <\/span><\/li>\n<li><span id=\"E202\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">Other documents which must be filed include the directors<\/span><span id=\"E203\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">\u2019 <\/span><span id=\"E204\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">report and auditors<\/span><span id=\"E205\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">\u2019 <\/span><span id=\"E206\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">report (unless the company is exempt), and financial statements, including details of the company<\/span><span id=\"E207\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">\u2019<\/span><span id=\"E208\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">s assets and liabilities.<\/span><\/li>\n<li id=\"E209\" class=\"qowt-stl-Default\"><span id=\"E210\" class=\"qowt-font6-Times\">Arranging meetings of the directors and the shareholders. This responsibility will involve the issue of proper notices of meetings, preparation of agenda, circulation of relevant papers and taking and producing minutes to record the business transacted at the meetings and the decisions taken.<\/span><\/li>\n<li><span id=\"E212\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">Informing the Government of any significant changes in the company<\/span><span id=\"E213\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">\u2019<\/span><span id=\"E214\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">s structure or management, for example the appointment or resignation of directors.<\/span><\/li>\n<li><span id=\"E216\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">Establishing and maintaining the company<\/span><span id=\"E217\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">\u2019<\/span><span id=\"E218\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">s registered office as the address for any formal communications. Ensuring that all the company<\/span><span id=\"E219\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">\u2019<\/span><span id=\"E220\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">s business stationery carries its name, registered number, country of registration and registered address. These details must also appear on the company website, emails, order forms and invoices.<\/span><\/li>\n<li><span id=\"E222\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">Ensuring the security of the company<\/span><span id=\"E223\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">\u2019<\/span><span id=\"E224\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">s legal documents, including for example, the certificate of incorporation and memorandum and articles of association.<\/span><\/li>\n<li><span id=\"E226\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">Deciding on the company<\/span><span id=\"E227\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">\u2019<\/span><span id=\"E228\" class=\"qowt-font6-Times\" style=\"font-size: inherit;\">s policy for the filing and retention of documents.<\/span><\/li>\n<li><span style=\"font-size: inherit;\">Advising directors on their duties, and ensuring that they comply with corporate legislation and the articles of association of the company.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4>Additional Resources<\/h4>\n<h5 id=\"E233\" class=\"qowt-stl-Default\"><a href=\"https:\/\/www.hkics.org.hk\/media\/publication\/attachment\/PUBLICATION_A_2401_ACSN%20comparative%20analysis.pdf\"><strong><span id=\"E234\" class=\"qowt-font6-Times\">Comparative guide of company secretary basics in Asia<\/span><\/strong><\/a><span id=\"E243\" class=\"qowt-font6-Times\"><\/span><\/h5>\n<h5 id=\"E245\" class=\"qowt-stl-Default\"><strong><a href=\"https:\/\/www.investhk.gov.hk\/en\/setting-hong-kong\/incorporate-company.html\"><span id=\"E246\" class=\"qowt-font6-Times\">Company Incorporation guide<\/span><\/a><\/strong><\/h5>\n<p class=\"p1\" style=\"text-align: center;\"><b><i>This article does not constitute legal advice.<\/i><\/b><\/p>\n<p class=\"p2\" style=\"text-align: center;\"><i>The opinions expressed in the column above represent the author\u2019s own.<\/i><\/p>\n<p class=\"p3\" style=\"text-align: center;\"><span class=\"s1\"><a href=\"https:\/\/register.zegal.com\/\"><b>Start managing your legal needs with Zegal today<\/b><\/a><\/span><\/p>\n<p id=\"E245\" class=\"qowt-stl-Default\"><a href=\"https:\/\/zegal.com\/company-secretarys-letter-of-resignation\/\">DOCUMENT: Company Secretary Letter of Resignation<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s really easy to start a company in the laissez-faire economic system of Hong Kong. You can start a company all by yourself. All you need are the articles of association, a filled-out application form, a notice to the Business Registration Office of Hong Kong, and of course\u2014fees. In terms of manpower, you&#8217;ll need one [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":33155,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","inline_featured_image":false,"footnotes":""},"categories":[14278,133],"tags":[10488,6919],"usecases":[],"businesstypes":[],"country":[],"class_list":["post-33146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-management","category-startup","tag-hk","tag-uk"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.8 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Roles &amp; Responsibilities of Company Secretaries in Hong Kong | Zegal UK<\/title>\n<meta name=\"description\" content=\"Do I really need a company secretary? 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