Corporate Law in Hong Kong
Corporate Law in Hong KongUpdated on Friday 21st February 2020
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Laws for companies in Hong Kong
The Corporate Law in Hong Kong governs all the legal areas concerning Hong Kong companies, their incorporation, operation and the responsibilities of their members and directors. The Hong Kong Companies Ordinance was adapted and modernized in order to offer attractive business options and opportunities in Hong Kong and secure its place as an important financial and business center.
The Companies Bill includes important information for business owners who want to open a Hong Kong company. There bill contains more than 20 parts and additional schedules. All of the information contained in this legislative document can be explained in detail by our lawyers in Hong Kong.
Types of companies in Hong Kong
The Companies Bill defines the types of companies available in Hong Kong and continues by describing the company registration procedure and the requirements for audit and annual reporting. According to law, the types of companies in Hong Kong are:
- the limited company (by shares or guarantee);
- the unlimited company;
- the private company;
- the public company;
- holding company, subsidiary, branch.
The Office of the Registrar of Companies and its functions are also described in the Companies Bill. Our Hong Kong lawyers can offer you detailed information about the documents required for company registration in Hong Kong.
Managing companies in Hong Kong
The share capital and the transactions in relation to the share capital are described in the Companies Bill. Furthermore, the legal document describes the distribution of profits and assets and offers information about a company’s requirements to submit the annual consolidated financial statements, the auditor’s report or the director’s report.
The appointment, removal or resignation of company directors in Hong Kong must be made according to law and companies must also observe the requirements regarding directors: for example, public companies and companies limited by guarantees are required to have at least two directors.
Other information, like the dissolution of companies or company mergers and acquisition are described in the Companies Bill.
Our law firm in Hong Kong can offer you complete solutions for company formation in Hong Kong. Please contact our lawyers in Hong Kong for a complete offer of our legal services.