The new requirements on the keeping of Significant Controllers Registers by companies will come into operation upon commencement of the Companies (Amendment) Ordinance 2018 on 1 March, 2018.

As an international financial centre, Hong Kong attaches great importance to safeguarding the integrity of our financial systems by implementing international standards on Anti-Money Laundering and Counter-Financing of Terrorism to deter and detect illicit fund flows in and out of our financial systems.

To enhance transparency of corporate beneficial ownership in order to fulfil Hong Kong’s international obligations, the Companies Ordinance (Cap. 622) is amended to require a company incorporated in Hong Kong to obtain and maintain up-to-date beneficial ownership information by way of keeping a Significant Controllers Register (“SCR”).  The SCR should be open for inspection by law enforcement officers upon demand.

For details, please refer to the below Executive Summary and the full text of the Companies (Amendment) Ordinance 2018.

Executive Summary of Keeping of Significant Controllers Register

Companies (Amendment) Ordinance 2018