Smart News – Hong Kong – March 2018
Hong Kong companies must register their beneficial owners starting 1 March 2018
Our Smart News alert of October 2017 reported on the proposed introduction of rules requiring Hong Kong companies to keep track of their beneficial owners by maintaining a ‘significant controllers register’. The new rules which amend the Companies Ordinance have now been adopted and will come into effect on 1 March 2018.
This Legal Alert summarises what Hong Kong companies need to do in order to comply with the new requirements under these new rules known as the ‘Companies (Amendment) Ordinance 2018’. We refer to our earlier alert for more details on the context of the new rules and the penalties for non-compliance.
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