Following the passing of the Companies (Amendment) Bill 2017 on 24 January 2018, Hong Kong companies are required to obtain and maintain up-to-date beneficial ownership information through keeping a Significant Controllers Register (“SCR”) with effective from 1 March 2018.
The SCR of a company must contain the name and contact information of the Designated Representative ("DR") as its representative to provide assistance relating to the company’s SCR to a law enforcement officer.
A company’s DR must be one of the following:–
The new requirements on the keeping of significant controllers registers by companies which will come into operation upon commencement of the Companies (Amendment) Ordinance 2018 (“the Amendment Ordinance”) on 1 March 2018.
To enhance transparency of company information, all companies incorporated in Hong Kong (except Listed Companies) are required to obtain and maintain up-to-date beneficial ownership information, by way of keeping a Significant Controllers Register ("SCR") for inspection by law enforcement officers upon demand.