Commencement of new inspection regime by Hong Kong Companies Registry

The Companies Registry (“CR”) in Hong Kong has announced the launch of the first phase of the new inspection regime. This regime is designed to protect personal data from misuse while also ensuring transparency and allowing the public to inspect the Register.

Under the new inspection regime, correspondence addresses instead of the usual residential addresses (“URAs”) of directors and partial identification numbers (“IDNs”) instead of full IDNs of directors, company secretaries and other relevant persons would be made available on the register for public inspection. The URAs and full IDNs (“Protected Information”) will only be accessible by “specified persons” upon application. Similarly, companies may withhold from public inspection the Protected Information on the registers they have kept.

Timeline of the new inspection regime
The new inspection regime will run in three phases:

Specified people:

Specified people include data subjects and those they authorise; the company's members; public officers, public bodies and people or organisations who need to use protected information for executing statutory functions; lawyers practising in law firms and practising accountants; banks; and financial institutions and designated non-financial businesses and professions regulated under the Anti-Money Laundering & Counter-Terrorist Financing Ordinance.

How we can help:

We can help you update your own company register by:

1. replacing URAs of directors with correspondence addresses;
2. replacing full IDNs of directors with partial IDNs of directors; and
3. providing registered office address as the correspondence addresses of directors.

For more information, please contact Ms Amie Cheung or Ms Vincy Cheung at vincycheung@lccpa.com.hk

About Lawrence Cheung CPA:

Founded in 1978, Lawrence Cheung C.P.A Company Limited (LCCPA) is a professional accounting firm registered under the Professional Accountants Ordinance with the Hong Kong Institute of Certified Public Accountants. Now LCCPA is a leading firm of certified public accountants ("CPA") and business advisers providing an integrated range of services with a commitment to excel in all practice areas. Their portfolio of clients is diverse ranging from SMEs, regulated entities under Securities and Futures Ordinance to multi-national corporations. Their firm comprises more than 40 staff members, including 5 Certified Public Accountants (Practising) and 8 Qualified Public Accountants. Their directors are ex-Big-four accountants with extensive experiences in audits of both Hong Kong and overseas private and listed companies, taxation, business advisory, computer consultancy, merger and acquisition, company secretary, risk management, initial public floatation, corporate and group restructuring exercises.

About Alliott Global Alliance:

Founded in 1979, and with 200 member firms in 85 countries Alliott Global Alliance is an international alliance of independent, law, accounting, and specialist advisory firms, working across the world Together as One.

Each of our members share a common goal: to learn and share knowledge, resources, and opportunities to make the world smaller and their businesses stronger

We work with a spirit of generosity and openness — so that together, we can continue to fulfil our ambitions, gain greater experience, and drive mutual success.

Alliott Global Alliance is expanding fast, and the alliance has its sights set firmly on growing its legal and accounting membership to 100 countries. Opportunities are available to independent professional firms in specific countries in Africa, but also in Europe, China, the ASEAN region, Australasia, the Gulf Cooperation Council region, Central and South America and in North America. For information about membership in the APAC region, contact Damien McMenamin (damien@alliottglobal.com), Chief Growth Officer.