[Smart News] Hong Kong companies to increase transparency through mandatory register of beneficial ownership

Hong Kong companies to increase transparency through mandatory register of beneficial ownership

Beneficial owners of Hong Kong companies will be required to make their identities known to the company under proposals recently tabled by the Hong Kong Government. The Companies (Amendment) Bill 2017 (“Bill”) proposes to introduce an obligation for companies to maintain a ‘significant controllers register’ containing up-to-date information on their beneficial ownership.  The register will not be accessible to the general public.

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