Allotment and Issue Of Shares for a Limited Company
What Supporting Documents Are Required For Allotment and Issuance of Shares of the Company?
- the Articles of Association;
- the Register of Members;
- the Significant Controllers Register (“SCR”);
- the latest Annual Return;
- the copy of passport and address proof of the new member(s);
- the number of share(s) to be issued and allotted;
- the amount of capital to be contributed.
What does the Process Look Like?
- review of documents;
- preparing the application for shares form;
- drafting of board resolution or written resolution;
- arranging signatures on drafted resolution and share allotment documents;
- filing of the prepared form to the Companies Registry;
- issuance of share certificate(s) to new shareholder(s);
- updating the Register of Member and SCR.
What Is The Timeline In Allotment And Issuance Of Shares?
The whole process takes around 2-3 working days, provided that all documents are in order.
Choosing the Right Company Secretary
Setting up a proper corporate structure including shares allotment and issue is essential for effective tax planning and may play a role in obtaining proper tax substance at a desired jurisdiction. Therefore, your company secretary needs to have a good understanding and expertise in taxation, legal and business operations.
Triple Eight, the HKWJ Tax Law sister company, within the framework of the HKWJ Group as your company secretary can assist with issuing the necessary shares for the new limited company as well as increasing the share allotment if necessary at any time give as required by the shareholders of the company.