The Companies (Amendment) Ordinance 2018, which came into operation on 1 March 2018 imposed on companies incorporated in Hong Kong (excluding listed companies in Hong Kong) an obligation to maintain a Significant Controllers Register (SCR). Coupled with the Common Reporting Standard, which took effect on 1 July 2017 in Hong Kong, the new provision reflects…
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On 26 December 2017, the National Development and Reform Commission (NDRC) promulgated the Administrative Measures for the Outbound Investment of Enterprises (Regulation No.11), effective 1 March 2018. Regulation No. 11 reflects a robust move to simplify responsible Chinese outbound investments into an online record-filling system without capping the maximum investment amount. Comprising six chapters and…
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After the progression of China’s “Three-in-One” Reform in October 2015 incorporating the business license, organization code certificate and tax registration certificate into one integrated business license (one certificate with one unified code), and the updated to “Five-in-One” policy (October 2017), the “all-in-one” process now stands fully implemented as of 31 December 2017. Prior to “Three-in-One”,…
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