The legal framework in Hong Kong requires all registered companies to appoint a secretary to the board of directors. The Hong Kong secretarial services ensure smooth administrative functioning and compliance with legal statutes, along with holding shareholder meetings and overseeing the implementation of decisions made by the board of directors.
Needless to say, hiring an accountable company secretary is an important decision for any company – be it private or a limited company. The service hired to fill the position is needed to possess a broad set of skills in corporate law, governance, finance, and other relevant qualities of a corporate secretary. Since the corporate secretary enjoys considerable influence in the firm and significant access to the daily working of the board of directors, and a close relationship with the shareholders, the choice of a company secretary can have a sizable impact on the future of the firm.
Some things you need to consider before hiring a corporate secretary
- A good corporate secretary understands the ins and outs of the business. Make sure that the person or firm you hire knows their way around. Since the corporate secretary will be advising the board of directors, someone with experience in the field will be a good choice.
- The corporate secretary serves many roles in the company. Not only do they advise the board of directors, but they also look over the legal aspects of the business, stay in touch with the shareholders. For smooth functioning, it would be best if the company secretary is able to handle many jobs at the same time, is excellent at multitasking. Furthermore, they also need to be proficient with modern technology. Proper use of technology can ensure smooth and swift communication between all parties.
- A crucial duty is to advise the board of directors, hence a company secretary needs to have excellent planning skills. A company secretary should be someone who can study the market and figure out the best way for the company to proceed.
- To maintain a good relationship with the shareholders and to relay information among the different levels of the institution, the company secretary must possess good communication skills.
- The corporate secretary looks at overall business done by the company, they make sure that all business is done according to the laws and regulations. To be able to do this properly, they need to have a good understanding of corporate law and keep themselves updated with the relevant legal proceedings.
Since the job of a corporate secretary entails a lot, requires them to be aware and capable of a lot of things, it would be a wise decision to hire another firm to fill in the position of the company secretary rather than a single person. The firm can then hire a team of experts to look over the individual aspects of the job. Rather than one person knowing everything, if an expert in corporate law and another expert in finance, among other experts, look over your business and provide sound advice to your board of directors, it will only benefit your company. 3E Accounting Limited offers secretarial services to start-ups and other businesses.
Since the law requires all registered companies to have a company secretary, a Hong Kong company incorporation specialist would be the obvious choice. With a clear idea about the duties of a company secretary, you can look for the right person to fill that position.