Green Box & Common Seal of Hong Kong Company
Sometimes, we received inquiries from potential clients about whether or not Green Box and Common Seal would be included in the incorporation package, because other agents quoted these items and seems mandatory and would like us to explain. To facilitate with, we are pleased to share this blog post as permanent reference for you guys.
Green Box
Green Box is box set for keeping all the company records together with the stationery in the old times when typewriter and handwriting were the methods to maintain proper records, usually with below listed items:-
Nowadays, as most of the company records already with scanned copies or electronic version available, except those certificates, such as Certificate of Incorporation and Business Registration Certificate, there is no mandatory legal requirement to keep hard copy record; Hong Kong as a world leading commercial center, government authorities actually promoting paperless filing instead, while our company kit was purposely designed to minimize the size and weight for easy to carry during travel.
Common Seal
Since the launched of the New Companies Ordinance (Cap. 622), common seal has become an optional item for any Hong Kong company:-
The web link of the respective FAQ section by Companies Registry as follows:-http://www.cr.gov.hk/en/companies_ordinance/faq_common_seal.htm
Further that, below with the respective Companies Ordinance section in relation to the execution of a document of a Hong Kong company when a common seal was not adopted:-
As the common seal must be a metallic seal, heavy weighted yet seldom be used, unless with client’s specific request, we trend to allow clients to adopt a simpler way in doing business. Below with the difference between each chop of Hong Kong company as well:-
Round Chop
Daily operation use
Acknowledgement receipt
On quotation, invoice, receipt
Outing correspondence or letter
Authorized Signature Chop
Use with signature of authorized signer(s)
Agreements
Contracts
Bank documents, cheques
Employment contract
Insurance certificate
Documents to government authority
Common Seal
Optional, can refers to Article no. 81 of the Standard Articles of Association of the Company
If adopted, the directors may decide by what means and in what form a common seal or official seal is to be used
May be affixed to share certificates, debenture certificates, warrant certificates, contracts without consideration (e.g. gift), deeds, and power of attorney, etc.
We understand that you treat the Company as a tool to reach your success, therefore, we prefer to lower the cost by minimize the gadgets you don’t actually need, while sharpen our professional knowledge to provide more value-added services for you.
Should you have more inquiries on Hong Kong company setup or maintenance, please feel free to drop us an email at catcherbiz@outlook.com, we will get back to you asap.