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JUNE 2018

A new Requirement for Hong Kong companies


Since 1st March 2018, Hong Kong companies are required to set up and maintain a Significant Controllers Register (hereafter “SCR”) and to appoint a designated representative (hereafter the “Designated Representative”) in relation thereto. The new legislation aims at fighting money laundering and terrorism financing.

 

Who is required to maintain a SCR?
All companies incorporated in Hong Kong are required to keep a SCR.

 

Who is a Significant Controller?

A person has significant control over a company if one or more of the following conditions are met:

• the person holds, directly or indirectly, more that 25% of the issued shares in the company;

• the person holds, directly or indirectly, more than 25% of the voting rights of the company;

• the person has the right to exercise, or actually exercises, significant influence or control over the company;

• generally speaking, all persons who de jure or de facto exercise control over the company are considered Significant Controllers.

 

Ultimate beneficial owners as well as individuals actually controlling the company - according to specific criteria without necessarily being director - must be mentioned in the Register.

 

What information should the SCR contain?

The SCR must contain:

• the required particulars of every significant controller of the company: name, surname, passport number or Hong Kong Identity card number, correspondence address for natural persons, and type of entity, number and country of incorporation for legal entities;

• the particulars of any registrable change with respect to each significant controller of the company;

• the name and contact details of the designated representative;

• if the company doesn’t have any significant controller, it must state the following sentence in the SCR: “the company knows, or has reasonable cause to believe, that it has no significant controller”.

 

Where to keep the SCR?
The SCR must be kept at the company’s registered office or in any other place in Hong Kong. It must be kept in hard copy or in electronic form. The place where the Registry is kept must be notified to the Hong Kong Companies Registry if it is not at the Registered Office.

 

The Register is not accessible by the public but only by law enforcement officers and officers of the Companies Registry.

 

Penalty in case of non-compliance

Any breach of the above mentioned obligations is a criminal offence liable to a fine equal to HK$ 25,000 as well as daily fine of HK$ 700 for each day the company fails to comply with the law. Any intentional willful misconduct or gross negligence regarding the particulars of the Register is liable to a fine of up to HK$ 300,000 and two years of imprisonment.

 

Designated Representative

Each company must appoint a natural person residing in Hong Kong as Designated Representative who will be the contact person of the Companies Registry and any other law enforcement agency.

 

The Designated Representative may be an individual belonging to the internal organization of the company (a member, a director or an employee of the company who is a natural person resident in Hong Kong). It can also be a lawyer duly registered with the Law Society of Hong Kong.

 

Lawyers are exempted by Section 653ZC of the Companies (Amendment) Ordinance 2018 to have the license that service providers must now hold to act as a Designated Representative. Under the new license regime not applicable to lawyers, licensees are directly controlled by the Companies Registry. Lawyers continue to be governed by their professional rules which are designed to protect the interests of their clients.

 

The Partners of our firm supervising the legal files of our clients’ companies, i.e. Mr. Eric-Jean Thomas or Mr. Eric Mayer, can be appointed as a Designated Representative.


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19 MARCH 2016

TMA sponsors the 7th edition of the Interuniversity Oratory Contest of the Delta Pearl River


TMA sponsors the 6th edition of the Interuniversity Oratory Contest of the Delta Pearl River. "How can I make contributions to promote the French language in the Delta?" was the theme of this seventh edition of which came to confront candidates from universities in Hong Kong and in the Guangdong province.

 


Learn more:

Inter-university French Speech Competition 2016



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27 JANUARY 2016

TMA celebrates this year its 20 years of establishment in Hong Kong


In 1995, TMA was established as a law firm in Hong Kong. It is a partnership registered with the Law Society of Hong Kong.

 

In 2010 TMA opened its French subsidiary, registered with the Paris Bar. Eric-Jean Thomas is the Senior Partner of the firm whereas Eric Mayer is the Managing Partner of the Hong Kong Office and Emma Besoussan Crémieux the Managing partner of the Paris office.

 

TMA specializes in the economic migration of companies from Europe to Asia and from Asia to Europe.

 


Read publication:

20 bougies pour TMA!



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20 JANUARY 2016

TMA receives the Law Firm (PLATINUM AWARD) at the Hong Kong Business High Flyers Awards outstanding entreprises of 2015


The Awards gave due credit to outstanding companies that have set examples on how businesses can excel through constant innovation, customer centricity and social responsibility.

 

This year, the 12th year that the awards are handed out, the magazine also gave special recognition to three companies that have been awardees since 2006.

TMA is one of them.


Read publication:

TMA receives the Law Firm (PLATINUM AWARD) at the Hong Kong Business High Flyers Awards outstanding entreprises of 2015



Learn more:

Hongong Business offical website



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28 MARCH 2015

TMA sponsors the 6th edition of the Interuniversity Oratory Contest of the Delta Pearl River


TMA sponsors the 6th edition of the Interuniversity Oratory Contest of the Delta Pearl River. "Emergence of a common society in the Delta?" was the theme of this sixth edition of which came to confront candidates from universities in Hong Kong and Guangdong province.

 


Learn more:

[La Presse en Parle] Concours oratoire interuniversitaire 2015 à Guangzhou

Beau succès du concours oratoire inter-universitaire en langue française



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24 MARCH 2015

Finally master the technicality of asian markets!


Asian countries remain the engines of the today's world global growth. You can not miss this area of opportunities for your export expansion. To ensure your success on these markets, TMA invites you to participate to the seminar "Special ASIA 2015" this Tuesday March 24th at the WORLD-EXPAT exhibition, Espace Champeret - Paris 17th.



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3 MARCH 2015

Thomas, Mayer & Associés supports the "2020 Pasteur Global Health Initiative" project


On March 3, the Institut Pasteur and the Institut Pasteur international network launched in Hong Kong the project called "2020 Pasteur Global Health Initiative".

This project aims to accelerate scientific discovery through:
- the implementation of efficient scientific programs by the Pasteur institutes of the network in the most vulnerable geographical areas
- the creation of new research institutes in critical areas
- the use of the most innovative research technologies

 

The launch of the "2020 Pasteur Global Health Initiative" aims to raise funds of $120 million by 2020. The funds will be used to conduct collaborative research projects to prevent new epidemics and stop already existing epidemics. The "2020 Pasteur Global Health Initiative" will thus make it possible to find new treatments against diseases, to improve the surveillance of pandemics and epidemics, and to continue the training of scientists (students and professionals) in order to extend scientific knowledge to worldwide.



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18-19 NOVEMBER 2014

Classe Export Fair in Lyon 2014


Classe Export Fair in Lyon annually brings together international traders in the Rhône-Alpes region. Thomas, Mayer & Associates will attend the 2014 edition, held on the18 and 19 of November. Mr. Thomas and Mr. Mayer will answer questions from entrepreneurs and companies interested in projects of investment and development in Hong Kong and the Asia-Pacific region. The Export Class Lounge is reserved for professionals.



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1 NOVEMBER 2014

TMA supports the second edition of "Study in France - Virtual Education Fair Asia 2014"


This show, dedicated of the promotion of French higher education offer to the Asian audience, will open on November 1st and will remain online until 31 January 2015. Two periods of real time interviews will allow visitors to ask questions to the 66 French institutions representing a wide range of courses.



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NOVEMBER 2014

Taxation of Companies and Individuals in Hong Kong


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28 OCTOBER 2014

Think ASIA, think HONG KONG


TMA is participating at the event "think ASIA, think HONG KONG" organized by the Hong Kong Trade Development Council (HKTDC) at the Carrousel du Louvre in Paris.



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21 OCTOBER 2014

Think Asia Think Hong Kong presents Thomas, Mayer & Associés


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1 MAY 2014

TMA sponsor in the Beijing Marathon held on the Great Wall of China


TMA sponsors Vincent Colombié, intern in the firm in Hong Kong, for his participation in the Beijing marathon organized on the Great Wall of China.



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1 MARCH 2014

TMA sponsors the 5th edition of the Interuniversity Oratory Contest of the Delta Pearl River


TMA sponsors the 5th edition of the Interuniversity Oratory Contest of the Delta Pearl River. "Living in the Delta the XXI Century" was the theme of this fifth edition of which came to confront candidates from universities in Hong Kong, Guangzhou and Nanhai.



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20-22 NOVEMBER 2013

TMA funded the first edition of the virtual exhibition « Study in France: Virtual Education Fair »


Organized by the Consulate General of France in Hong Kong and Macau, the show takes the concept of a real fair but by virtualizing it! Visitors of the faircan now, from home and behind their computer,s visit the various booths and interact with exhibitors through their webcam.



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23 FEBRUARY 2013

TMA sponsors the 4th edition of the Interuniversity Oratory Contest of the Delta Pearl River


For the 4th consecutive year, TMA sponsors the Interuniversity Oratory Contest of the Delta Pearl River. This contest is organized by the AFLE (French Foreign Language Association of Hong Kong and Macao) and the Consulates General of France in Hong Kong, Macao and Guangzhou. In 2013, the contest theme was "Successful life in the Delta."



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25 FEBRUARY 2012

TMA sponsors the 3rd edition of the Interuniversity Oratory Contest of the Delta Pearl River


TMA is sponsoring the 3rd edition of the Interuniversity Oratory Contest of the Delta Pearl River. The contest theme was "The Delta of the Pearl River, gateway to China."



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25 JANUARY 2012

TMA awarded in Hong Kong Business Outstanding Enterprise 2011


TMA was given ''Hong Kong Business Outstanding Enterprise' 2011 award in the law firm category.



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16 DECEMBER 2011

Comprehensive Double Taxation Agreement between France and Hong Kong


Press release by the Consulate General of France in Hong Kong and Macao relating to the Comprehensive Double Taxation Agreement between France and Hong Kong. The French Consul General of Hong Kong and Macao and locally based journalists attended the presentation by Eric Mayer of the Comprehensive Double Taxation Agreement at the French Consulate in Hong Kong.


This presentation was made relying on a Power Point which can be found, together with an article commenting the general impact of such Comprehensive Double Taxation Agreement, in the “Publication” area of this website.



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NOVEMBER 2011

Creation of the TMA Student Scholarship in French and law


TMA is happy to announce the creation of a scholarship which provides for a six months stay in France (“Un semestre en France”) to study French and Law.


The “TMA Scholarship in French & Law” is intended to promote the learning of French as a foreign language and to introduce students to French law, whose civil law principles are radically different from Hong Kong’s common law.


Successful applicants will have the chance to live with a French family for two months and to attend French language courses for foreigners at the CAVILAM language study centre, a partner organization of the University of Vichy.


Subsequently they will join the final year undergraduate law program at the French partner University of their Home University for one semester before starting a three-to-six-month internship with TMA.



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OCTOBER 2011

TMA 15th Anniversary


On 12 October 2011 Thomas, Mayer & Associés (TMA) Hong Kong celebrated its 15th anniversary. This highlights not only the expertise of the firm but also that of its members.


On the occasion TMA announced the Launch of the academic scholarship: "TMA Scholarship in French and in Law" in cooperation with the Cultural Service of theGeneral Consulate of France in Hong Kong, this scholarship is for young francophones Hong Kong lawyers in cooperation with the Consulate General of France in Hong Kong.



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26 FEBRUARY 2011

TMA reiterates its support for the 2nd edition of the Interuniversity Oratory Contest of the Delta Pearl River


After the success of the first edition, TMA reiterates its support for the Interuniversity oratory contest of the Delta Pearl River Called to vote this year on the future of the Delta, the "Delta 2050", 10 candidates from Hong Kong, Shenzhen and Guangzhou, faced off in a friendly mood.



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6 MARCH 2010

TMA is sponsoring the 1st edition of the Interuniversity Oratory Contest of the Delta Pearl River


TMA is sponsoring the first edition of the Interuniversity oratory contest of the Delta Pearl River co-organized by the Consulates General of France in Guangzhou, Hong Kong, Macao and French Foreign Language Association of Hong Kong. Real contest of eloquence, this event aims to highlight the Francophonie and to reward students of the Delta Pearl River from universities in mainland China, Hong Kong and Macao. The theme of the first edition was "The Delta of Pearl River: Situation and Challenges".



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