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SCR launches unexpectedly,what is it?

HiTouch 05 March 2018

Hong Kong came out new requirements for increasing companies and money inspections. All companies incorporated in Hong Kong are required to obtain and maintain up-to-date beneficial ownership information by way of keeping a Significant Controllers Register(SCR), it will officially take effect on March 1. 

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Simply speaking, it requires Hong Kong companies to submit information of significant persons/entities to the government. And this information and data should be open for inspection by law enforcement officers UPON DEMAND.



What should you do?



Under the new requirements, a company incorporated in Hong Kong is required to fulfill the following obligations. 

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More directly, these two steps you have to do now: