Why EFSL (Entrust Fiduciary Services Limited)

There are no maximum requirements for issued capital; however each subscriber must hold at least one share. Hong Kong does not have the concept of authorized capital for the company.

Following amendments enacted by the Companies (Amendment) Ordinance 2003, private companies can operate with just one director who need not be a local resident.

Corporate directors are permitted for non-subsidiary companies listed publicly provided that the company has at least one individual director.

A single shareholder is allowed per company structure along with provisions for corporate shareholders which maintain anonymity via nominee shareholders.

Every entity must appoint a local resident secretary alongside having an official registered office supported by a Business Registration Certificate. The current business registration fee stands at HK$2,200 payable within one-month post-incorporation then annually on its anniversary date.

EFSL can facilitate these needs where secretarial roles encompass compliance obligations such as conducting annual general meetings while filing requisite returns for companies. Each enterprise-barring dormant cases-is obligated to generate annual audited accounts managed by an auditor who must be certified by the Hong Kong Society of Accountants holding valid practice credentials. Proper accounting records should be kept either locally or as determined by directors’ discretion.

Profits Tax Returns are generally sent out each April-newly established companies will receive their first return approximately 18 months following incorporation or commencement date selecting from accounting periods not exceeding this timeframe. Timely filing upon receipt remains essential even if inactive status applies.

Both local government bodies along with regulatory authorities prioritize enhancing legislation surrounding Hong Kong while EFSL specialists collaborate closely with officials alongside private sector members striving towards elevating jurisdictional reputation whilst providing client-centered service delivery effectively.