When setting up a limited company in Hong Kong, you may have seen the “green box”. Do you know what is in it, and what are the functions of these documents and items? This article shares what’s included in the company’s “green box” and what it’s used for.
While a physical “green box” is no longer necessary in the current digital age, it is more of a tradition, but it still contains documents that require the attention of corporate applicants before they can legally conduct business.
What is a green box?
In Hong Kong, when you complete the business registration and limited company registration, the registered company will generally give/provide a “Green Box” (Green Box, also known as Company Kit Set) to the guests.
Obviously, the “green box” is mainly dark green on the outside, and the full name of the Hong Kong company will be marked on the outside of the box. The inside will contain many documents and supplies that the company needs to carry out legitimate business. The next paragraph will introduce and detail their uses.
What does the green box contain?
Depending on the application method and business of the enterprise, the scope of the green box may vary. However, almost every green box will contain a practical green document box that holds physical documents related to registering the business.
Green boxes generally contain:
• There are 3 company stamps in total: (a steel stamp, a small round stamp, long signature stamp);
• Incorporation form;
• 8 copies of the Articles of Association of Hong Kong companies;
• Hong Kong Company Registration Certificate (CR);
• Hong Kong company business registration certificate (BR);
• Annual Return;
• share capital;
• Statutory Register: Minutes of directors’ meetings.
What does the green box stuff do?
Green box items (documents as well as items) are essential to the legal status of a business, and the carrying and use of many items (such as a company seal) can help avoid illicit financial transactions.
The common seal is the “official seal” of a company in the legal sense, and it is used for more important occasions, such as legal deeds and contracts to be stamped with seals. The stamp is usually round and bears the company name. Since 2014, it has been gradually phased out due to the update of the Companies Ordinance to allow companies not to use steel stamps.
2. Small circle chapter
The small round seal, also known as the “modification seal”, provides Hong Kong companies with the function of “knowing” and “proofing” something, and is often used on bills and vouchers to show recognition. The small round chapter is generally a bilateral inner circle, mainly atomic blue or purple, with the company’s English name.
3. Long signature stamp
The long signature stamp, also known as the “financial stamp”, is named after the square typesetting and the horizontal line of the authorizer’s signature in the lower row. Therefore, it must be approved with the authorizer’s signature, otherwise, it has no legal effect, and the billing contract is acceptable. use. The market is generally blue, purple, and red.
4. Articles of Association
A4-sized green booklet, as the main legal document of the company, sets out the code of conduct within the company, including the company name;
Responsibilities of company members; total company share capital, method of division of shares, par value of shares, etc.; terms of organization, declaration of willingness to form a company, etc.
5. Business Registration Certificate/Certificate of Registration
Both are used as proof of company establishment and are mainly used for tax payment, opening bank accounts, auditing purposes, and documents commonly used in business operations.
6. Annual Return
According to the Companies Ordinance, companies established in Hong Kong are required to file an annual return, which must be submitted together with a balance sheet, directors’ report, etc., containing the company information up to that date in a specified format.
7. Share capital
The share capital is mainly used as a certification document when transferring or trading company shares.
8. Statutory Register
The statutory register is mainly used to record and store the register of directors, the register of shareholders, the register of secretaries, the minutes of directors’ meetings, the minutes of shareholders’ meetings, statutory forms, and so on.
The above information is for reference only. If you have any questions about the green box or company formation, we welcome your inquiry.