Significant Controllers Register - from 1 March 2018

From 1 March 2018, Hong Kong companies are required to keep and maintain a "significant controllers register". The requirement is intended to increase the transparency of corporate ownership and reduce money-laundering risks to enable Hong Kong to meet the Financial Action Task Force's recommendations and standards. It is a significant change to the company law regime in Hong Kong, requiring clients to take prompt actions to comply when the requirement comes into force and imposes continuing obligations thereafter.

The relevant legislation is contained in the Companies (Amendment) Ordinance 2018, which amends the Companies Ordinance (Cap. 622).

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