Bonafida Corporate Advisory Ltd 邦達企業顧問有限公司

Bonafida Corporate Advisory Ltd 邦達企業顧問有限公司 Business Solutions 商务解决方案
Consultancy Services 顾问咨询

Bonafida Corporate Advisory Ltd is principally engaged in the provision of business solutions and consultancy services. 邦达企业顾问有限公司主要业务为提供商务解决方案及顾问服务。

30/10/2020

The Companies (Fees) (Amendment) Regulation 2020 will come into operation on 1 October 2020.

The registration fees for annual returns (except for late delivery) charged by the Companies Registry will be waived for two years.
The waiver of registration fees will apply to annual returns delivered to the Registry on time and within the concession period from 1 October 2020 to 30 September 2022 (both dates inclusive).
However, the fee waiver will not apply to late delivery of annual returns. In cases of late delivery of annual returns, companies are still required to pay the statutory higher registration fees calculated based on the date of delivery, even though the late annual returns are delivered within the concession period.

In addition, with a view to encouraging the wider use of the Registry’s electronic services, with effect from 1 October 2020, the fees payable for electronic incorporation of companies and registration of non-Hong Kong companies will also be reduced by 10%.

For details on the waiver and fee reduction, please refer to Companies Registry External Circular No. 4/2020.

25/12/2013

The Hong Kong Government has just announced that the new Hong Kong Companies Ordinance ("the new CO") (except for a few provisions) will come into effect on 3 March 2014.

The new CO, which consists of 21 parts, 921 sections and 11 schedules, provides a modernised legal framework for the incorporation and operation of companies in Hong Kong. It aims to achieve four main objectives:

1. To enhance corporate governance by
- strengthening the accountability of directors and restricting the appointment of corporate directors
- enhancing shareholder engagement in the decision-making process, introducing a comprehensive set of rules for proposing and passing a written resolution and reducing threshold requirement to demand a poll from 10& to 5% of voting rights
- improving the disclosure of company information
- fostering shareholder protection
- strengthening auditor's rights to require the company to provide information or explanation for the performance of the audit

2. To ensure better regulations by
- ensuring the accuracy of information on the public register and clarifying the powers of the Registrar of Companies
- improving the registration of charges
- refining the scheme for deregistration of companies to minimize the deregistration procedure
- improving the enforcement regime

3. To facilitate business by
- streamlining procedures for the restoration of dissolved companies, dispensing with AGMs by unanimous consents, introducing a new court free statutory amalgamation
- facilitating simplified reporting for Small-and-Medium Enterprises
- facilitating business operation and communications in electronic form

4. To modernise the law by
- abolishing par value for shares
- removing the power to issue share warrants to bearers
- better protection of personal data, such as residential address and fill ID card/passport number
- clarifying the rules on indemnification of directors against liabilities to third parties

For further information, please contact Bonafida Corporate Advisory Ltd.

Address

Unit 304, Dominion Centre, 43 Queen's Road East, Hong Kong 香港香港皇后大道東43號東美中心3樓304室
Hong Kong

Telephone

+85236918179

Website

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