Many novice entrepreneurs do not know much about limited companies and often mistakenly believe that a company secretary is equal to a private secretary. The company secretary is mistakenly thought to be dispensable. This article shares with you the responsibilities and duties of a company secretary so that they can Everyone should deepen their understanding of company secretaries. If you intend to open a limited company, you should pay special attention!

*What is a Company Secretary? **

A company secretary is a professional corporate administrator. In many developed countries, such as Hong Kong and Singapore, a company secretary is a legal duty of a limited company. The main function of a company secretary is "compliance" and plays an important role in corporate governance. Company secretaries help maintain the core of good governance in the business community, including providing professional assistance to company directors when making decisions or discussing business development. In Hong Kong, company laws and related regulations change frequently and at a rapid pace, and the company's compliance requirements are becoming increasingly complex. The main function of a company secretary is to assist the board of directors in complying with relevant laws, ensuring compliance and avoiding fines for violations.

*Can the company secretary and director be the same person? **

Every Hong Kong limited company must appoint a qualified company secretary. The secretary must be a Hong Kong resident or a company with its registered office or principal place of business in Hong Kong and hold a Hong Kong Trust and Company Service Provider License (TCSP).

In a private limited company, any director who is not the sole director of the company can act as company secretary. From a cost perspective, letting qualified directors serve as company secretaries can indeed save the cost of outsourcing company secretaries. However, the point is that company secretaries are not as simple as "nominal". Currently, company secretarial services in the market start as low as $1,000. If you don't have With relevant experience, outsourcing company secretarial services can avoid a lot of fines. Because the service is electronic, Chinglink's secretarial services can be as low as $600, eliminating the risk of fines with the minimum fee.

As for listed companies, the requirements for company secretary qualifications are even more stringent. The person or company selected as a company secretary must have appropriate professional, academic qualifications or relevant experience in order to meet the relevant requirements specified in the "Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited" and the "Listing Rules".

*Company Secretary Qualifications | Can I be a company secretary myself? **

As mentioned above, the company secretary of a private company can be served by a director of the company, as long as the director is a Hong Kong resident.

But if you plan to appoint a secretary company , you should pay attention to whether they have obtained a "Trust and Company Service Provider License". Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615), any person who operates a trust or company services business in Hong Kong without a license commits an offence.

Regarding the trust and company service provider license, you can check the register of licensees on the [Companies Registry TCSP] ( https://www.tcsp.cr.gov.hk/tcspls/index ) website to ensure that the company secretary is appointed The company has been registered.

Company Secretary Position

The company secretary has a wide range of responsibilities and needs to ensure that the company's operations and decisions are legal and to help the company implement good corporate governance. Company secretary duties include:

• Maintain and update the statutory register of the company -Write meeting minutes
• Submit company annual return
• Prepare and submit company registration documents to government ministries
• Coordinate the production and release of company accounts and reports
• Communicate with regulatory authorities on behalf of the company
• Arrange directors and shareholders meetings
• Organize and assist in holding board of directors and shareholders meetings
• Monitor the progress of corporate governance

Summarize

The daily work of company secretaries in small and medium-sized enterprises is not complicated, but as a company secretary, you need to be aware of the current regulations and be sensitive to the requirements of company regulations to ensure that documents are submitted on time to avoid unnecessary fines. Therefore, when choosing [company secretarial services] ( https://www.chinglink.com/company-secretary ), you must find a reputable secretarial service company that has obtained a "Trust or Company Service Provider License" to serve as a secretarial service company. Own company secretary. Follow us @chinglink.hk Let you start a business at low cost