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.
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.
Under the new requirements, a company incorporated in Hong Kong is required to fulfill the following obligations.
More directly, these two steps you have to do now: