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Significant Controllers Register: A Guide for Hong …

1 Significant Controllers Register: A Guide for Hong Kong Companies January 2018 From 1 March 2018, all Hong Kong incorporated companies (except those listed in Hong Kong) will be required to maintain a register of Significant Controllers (SCs). This reflects the government s commitment to combat money laundering and terrorist financing by enhancing transparency of company ownership and control, and echoes similar requirements that have been put into place in jurisdictions such as the UK, Singapore, Cayman and BVI. The requirements will be implemented through Part 12 of the Companies Ordinance (the CO). The Companies Registry has issued guidelines (the Guidelines) on the operation of the new rules. Overseas companies with Hong Kong incorporated subsidiaries need to be aware of the regime (but not those which only have Hong Kong branches or non-Hong Kong companies registered in Hong Kong) as each of the Hong Kong incorporated subsidiaries will fall within the scope of the regime.

3 Significant Controllers Register: A Guide for Hong Kong Companies holding the majority of voting rights at board meetings on all or substantially all matters;

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