- Q:
- What are the differences between shareholders and directors?
- A:
- Shareholders and directors are different in comparison in the following rights and obligations:
Shareholders' rights and obligations are as follows:
- To take part in meetings of shareholders, and entitled to voting power in proportion of shareholding
- To understand the operating and financial conditions of the company
- To elect and to be elected as members of Board of Directors
- To obtain dividends
- To pre-empt shares transferred by other shareholders
- To subscribe in priority the shares newly issued by the company
- To have distribution from the remaining property after liquidation of the company
- The meeting of shareholders shall consider and pass the annual auditors' report
- To employ or dismiss directors in shareholders meetings and determine directors' remuneration
Directors' rights and obligations are as follows:
- To take charge of ordinary operations and decisions of the company
- To keep accounting book and business record
- To take charge of bank account management
- To secure the loan borrowed with the company's property
- To propose profits distribution scheme
- To propose authorized capital increase scheme
- To convene meetings of shareholders
- To execute resolutions passed at meetings of shareholders
- Q:
- Can the shareholder and director be the same person?
- A:
- Yes. The shareholder and director of the company can be the same person.
- Q:
- How many shareholders and directors shall a limited company have at the least?
- A:
- At least one shareholder and director, which can be the same person.
- Q:
- Can non-Hong Kong residents become shareholders and directors of Hong Kong Limited Company?
- A:
- Chinese residents or overseas persons who over 18 years old and holding passports or ID cards can become shareholder or directors of Hong Kong limited company.
- Q:
- Is it necessary for non-Hong Kong residents to hold passports in order to be shareholders and directors of limited company?
- A:
- No. But if the company wants to open a bank account in Hong Kong, shareholders and directors shall hold valid passports or travel permits and ID cards.
- Q:
- Can limited company act as shareholder or director of another limited company?
- A:
- Yes.
- Q:
- Can the information of directors and shareholders of the company be made available to other persons?
- A:
- Yes. All information of limited company registered in Hong Kong, including names, addresses and shareholding percentage of shareholders and names, ID card numbers or passport numbers and addresses, shall be available to the public. If the information of shareholders and directors want to be kept confidentially, Sino Corp can provide services of nominee shareholder and nominee director. (Details in Nominee Service)
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