Wednesday, January 20

What Do Secretarial Services Providers in Hong Kong do?

Subscribing to Hong Kong Secretarial Services is almost a necessity for companies nowadays. Secretarial Services function in many ways like assisting in business correspondence, making appointments, keeping records, and doing other jobs to keep the documents of the company intact.

Hong Kong Secretarial Services Providers Offer the Following

  1. Process the Entity Incorporation for Legal Purposes. The incorporation of a company allows it to conduct its business activities. It also serves as protection for the registered name and trademarks. For example, if you’re in the business of making t-shirts and you already named your brand as “Bright”, nobody can take that brand name anymore once your company is already incorporated for both its name and brand.
  2. Create a Provision of Local Directors, Shareholders, and Company Secretary. The appointment of local directors, shareholders, and company secretaries are requirements prior to incorporating a business.
  3. Perform Reorganisations of a Group. When we’re saying reorganization of a group, it means either the transfer of shares in a subsidiary from one group entity to another or the addition of a new parent entity to a group.

    To enlighten you about the process of reorganization, we need to further discuss what is a subsidiary. The term can be defined as a company under the jurisdiction of a parent company. The parent company has interest control over its subsidiaries as it has the majority of shares. During the reorganization, it involves the movement of shares.

  4. Perform Solvent Liquidations. Also known as Members’ Voluntary Liquidation (MVL), Solvent Liquidations refer to the process of closing down a company due to its inability to pay its debts. What this means is that if a company has to close down immediately, it needs to liquidate all of its assets so that it can pay all of its debts.

    If the company has just started, it usually has negative equity but as it gains income little by little, liabilities are paid and the equity becomes positive. This is if the company is in the right direction of progress. If the company is doing the reserve, then, there’s no other solution but to perform solvent liquidations.

  5. Registration of Local Office. The local address of your company or office in Hong Kong is a must as this is the address where business authorities will send you mails. If you’re still in the process of looking for an office, Hong Kong Secretarial Service Providers can give you a temporary address which you can change eventually.
  6. Facilitate IPO. The IPO is also known as Initial Public Offering. This is done by a private company to make its stock public and raise capital.
  7. Facilitate Registrar and Shareholder Services. The registrar and transfer of shares can be facilitated by a Hong Kong Secretarial Services Provider. The secretarial services provider helps maintain accurate records of the investor’s transactions.
  8. Process Agent Services. In the event that the company receives a lawsuit, Hong Kong Secretarial Services Providers can act as the recipient of those legal documents and can arrange dates for you for your hearings.
  9. Process Compliance Services. There are times when government authorities would demand some documents from your company for your compliance just like Safety Protocols for example now that we’re in the middle of the COVID-19 Pandemic. The Hong Kong Secretarial Services Provider can create the document for your convenience.

Do you need a Secretarial Services Provider in Hong Kong?

If you need a Hong Kong Secretarial Services Provider, you can contact 3E Accounting. They are among those known company formation specialist in Hong Kong that can offer you quality services.

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