We are your "company secretary"!

Hong Kong is one of the most dynamic regions in the world and is considered one of the best jurisdictions in which to establish a company. Hong Kong benefits from a light tax system with low tax rates. Ranked as the freest economy in the world between 1995 and 2019, Hong Kong represents the perfect platform for developing your business in Asia and internationally. To benefit from all these advantages, the first step is to register your company in Hong Kong. To do so, you will need a French-speaking Company Secretary to establish your company in Hong Kong. Since 1998, Merritt Asia has been a duly registered Company Secretary in Hong Kong. Indeed, one of the conditions for registering a company and starting your business in the Hong Kong jurisdiction is to have a Company Secretary. Please note that this appointment is mandatory; without it, it will not be possible to start your business in Hong Kong.

But what is a Company Secretary?

A Company Secretary is an authorized agent who represents your Hong Kong company before the Hong Kong Authorities. The duties of a Company Secretary are established by law, and they may act on behalf of the company only before the Authorities in matters relating to the company's legal compliance (tax and social security filings, administrative procedures related to the transfer of shares, changes to the company name, appointment of a director, etc.). One of the Company Secretary's duties is to ensure that the company and its operations are managed in accordance with the law. They do not have access to the company's bank account and are in no way a director (the company's “manager”). Our company, Merritt Asia Limited, is authorized to represent you: we are not resellers but an agent regulated by the Authorities and authorized to represent you.

Why is it so important to choose your Company Secretary carefully?

The Company Secretary is the legal representative of your entity before the local authorities, so it is essential to choose them carefully. Here are some of our areas of expertise and the main reasons why you should choose Merritt as your Company Secretary.

It is a legal requirement

Choosing a Company Secretary is not optional; it is THE condition for registering a company in Hong Kong. It is very simple: if you do not have a Company Secretary, your company cannot be registered. You could even be prosecuted by the authorities if you try to conduct business activities without a Company Secretary. It is therefore in your interest to choose your Company Secretary carefully before even beginning the process of establishing your company.

• Your link to the local authorities

If the Hong Kong administration wants to contact you, the Company Secretary will be its main point of contact. Your Company Secretary is therefore responsible for responding to all requests from the administration and plays a vital role as your representative and contact with the authorities.

• Ensuring legal, tax, and political monitoring

Your Company Secretary will ensure that your activities comply with local laws and regulations. Regulations and policies have been implemented to govern business activities in Hong Kong. A Company Secretary is essential to ensure that your business complies with local corporate, financial, and tax requirements. This will prevent your company from coming into conflict with the law.

But besides that, what is the role of a Company Secretary?

Your Company Secretary has many responsibilities, including:

• Ensuring your company's tax compliance

One of the main duties of your Company Secretary is to facilitate and ensure your company's tax compliance. If there is one thing to remember, it is that the Hong Kong administration is very straightforward when it comes to taxation, and the assistance of your Company Secretary means you have nothing to worry about. Here are some of your Company Secretary's responsibilities:

• Registering the company with the Inland Revenue Department (IRD) after your company is incorporated. This step is a priority because it allows the company to have its details recorded in government records.
• Applying for any additional authorization the company may need for tax purposes. You will find this role particularly important when you encounter complex tax issues that require clarification from the authorities.
• At the end of each financial year, the Corporate Secretary ensures that your company files its tax returns correctly and on time. This is very important to ensure that you benefit from any applicable tax reliefs and avoid penalties.

• Maintaining and updating the company's statutory documents

When you establish a company in Hong Kong, the Company Secretary is appointed to keep all of your company's documents. This gives government agencies direct and easy access to all of your company's documents when necessary. For example, in the event of a tax dispute, the Inland Revenue Department will contact your company's Company Secretary directly to inspect the records. The Corporate Secretary is required to update all company documents whenever the relevant details change. For example, if the shareholding structure changes, the Company Secretary must update the register of shareholders and directors. To keep shareholders informed about the company's operations, the Company Secretary is also responsible for preparing and sharing various reports.

• Connecting with the various stakeholders

One of the main duties of your Company Secretary is to liaise with the various stakeholders, particularly those whose mandate affects the company's day-to-day operations. These may include the Hong Kong Stock Exchange, the Inland Revenue Department, and the Companies Registry... These close relationships enable your Company Secretary to remain constantly alert and informed about political and regulatory developments...

Why choose Merritt as your Company Secretary?

Merritt Asia Limited is part of the Merritt network, which has offices in Hong Kong, the United Arab Emirates, and Florida, United States. We have been responsible for establishing and managing companies in Hong Kong as a “Company Secretary” since 1998. As explained above, having a “Company Secretary” is mandatory for all companies registered in Hong Kong. Without one, it will not be possible to start your business. We make all the expertise of our group available to our clients, particularly our legal advisory expertise, both at our headquarters in Hong Kong and in our offices in Dubai and the USA. Our close-knit team consists of legal and accounting professionals who are at your service to ensure the success of your professional activities in Hong Kong and the rest of the world. Contact us at +971 52 820 0964 or send us an email: support@merritt.group