Hong Kong’s new Companies Ordinance has been deemed as remarkable according to the South China Morning Post.
The new ordinance is intended to make it even easier for small companies to do business in Hong Kong.
Chaninat & Leeds is a full service law firm specializing in Thailand company registration and company law
The biggest change is that the nominal value (par value) of shares has been eliminated. In addition the memorandum of association is abolished and merged into the articles of association. This move seeks to simplify how a company is governed while adding to the protections that company law provides to owners, shareholders and stakeholders.
The new law also allows companies to dispense with annual general meetings by unanimous shareholder consent and also facilities virtual meetings using conferencing technology.
Read the full report here
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