Registering a company in Hong Kong is much easier than registering a company in any other country having such strong and vibrant economic and business trend. Selecting the director comes as one very important issue for any company, which comes with the intention to start and expand its business through Hon Kong. Usually, there are two different types of director comes into action while incorporating a company in Hong Kong. They are known as nominee director and regularly directs. According to the company registration act of Hong Kong, there is no distinction or difference between the nominee director and regular director, as they are treated with same authoritative and administrative responsibilities.
The duties and responsibilities of the director/s as per the rules and regulations of the Hong Kong company act is pretty much similar with the duties and responsibilities of directors in any other companies. They are responsible to carry on the overall business process of the company in good faith. Again, the directors are also bound to exercise their power in a proper manner, and they must also avoid misusing it. Diligence and skill must also come as part of the director’s responsibility, as well.
The shareholder/s of the company also has some specific right and duties according to the company incorporation act of Hong Kong. For example, shareholders are also bound to exercise their voting rights regarding removing or appointing any auditor/s or director/s of the company. It is obligatory for any company to release the profit divided among the shareholders without making any unnecessary delay. If the company is liquefied for some certain reasons, then the shareholders of the company also own a certain portion of the company’s asset, which is worth of their acquired shares in equal proportion.
Company secretary should act as one of the key persons of the company, as per the company formation act of Hong Kong. He/she must arrange the meeting and should take the meeting minutes accordingly. Filing all necessary documents and reports also come as another key job responsibility of the company secretary, as well. Registering the shares and the transfer of share must also be maintained by the company secretary, as this is well mentioned in the act of registering a company in Hong Kong. It is mainly the director, who is responsible for appointing or removing the company secretary without violating the rules and regulations of the company.