What is Designated Representative
A company must designate at least one person as its representative to provide assistance relating to the company’s significant controllers register to a law enforcement officer.
Under the Companies (Amendment) Ordinance 2018, all companies incorporated in Hong Kong (except listed companies) are required to:-
identify and ascertain a person / persons who has / have significant control over the company; and
maintain a significant controllers register to be accessible by law enforcement officers upon demand.
Who may be Designated Representative
A company’s designated representative must be either
a director, an employee or a shareholder of the company who is a natural person resident in Hong Kong or,
an accounting professional, a legal professional or a person licensed to carry on a business as trust or company service provider (“a TCSP licensee”).
Significant Controller can be Designated Representative
A significant controller of a company can be appointed as the designated representative of the company. The two can be the same person if that person can satisfy any of the following requirements, that is he/she is either :
a director, employee or member of the company who is a natural person resident in Hong Kong; or
an accounting professional, a legal professional or a TCSP licensee (i.e. a person licensed to carry on a trust or company service business in Hong Kong).
Designated Representative for Companies within a Group
If you are an employee of the holding company of a group of companies, you can be appointed as the designated representative of the holding company. If you are not a director, employee or member of the other companies under the same group, you need to be an accounting professional, a legal professional or a person licensed to carry on a trust or company service business (“a TCSP licensee”) before you can be appointed as the designated representative of these companies. In other words, you can be appointed as the designated representative for all the other companies within the group if you are an accounting professional, a legal professional or a TCSP licensee.
How Bestar Can Assist
Bestar is a reputable company registration firm in Hong Kong that offers a variety of services to businesses, including assistance for Designated Representatives. Here are some ways we can help:
1. Understanding the Role of a Designated Representative:
Explanation of responsibilities: Bestar can provide a clear understanding of the duties and obligations of a Designated Representative under Hong Kong law.
Compliance requirements: We can explain the specific rules and regulations that apply to Designated Representatives, ensuring compliance with local laws.
2. Appointment and Registration:
Assisting with the process: Bestar can guide you through the process of appointing a Designated Representative and registering them with the relevant authorities.
Documentation: We can help prepare the necessary documents and ensure that all information is accurate and up-to-date.
3. Maintaining the Significant Controllers Register (SCR):
SCR management: Bestar can assist in maintaining the SCR, which is a crucial requirement for companies operating in Hong Kong.
Updating records: We can help update the SCR with any changes in significant controllers or other relevant information.
4. Responding to Inquiries:
Assistance with inquiries: If a law enforcement officer contacts the Designated Representative, Bestar can provide guidance on how to respond and ensure that the company is compliant.
5. Staying Updated with Legal Changes:
Regulatory updates: Bestar can keep you informed about any changes in laws or regulations that may affect the role of a Designated Representative.
For more specific information and to tailor our services to your needs, contact Bestar. We can provide a detailed explanation of how we can assist you as a Designated Representative based on your specific circumstances.
Connect with Us
If you would like to know more, please contact Bestar.
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