Under the principle of ‘one country, two systems’, Hong Kong has its own legal system, distinct from the Law of the People’s Republic of China, and based on the combination of English common law (developed in local cases) and local legislation codified in the Laws of Hong Kong. Hong Kong has a common law system, whereas the PRC has a civil law system with socialist roots.
Formation of Limited Liability Company in Hong-Kong:
Package includes the following set of corporate documents:
– Nominee Directors:
The appointment of nominee directors has to do with people who will be managing the company, considering any kind of business.
– Nominee Shareholders:
Nominee Shareholders will be holding the Company’s shared documents for the avail of the clients.
-General Power of Attorney:
It is issued by the administrator for the benefit of the clients and it is valid for 12 months.
A General Power of Attorney grants the client with broad powers, represents and acts for the Company before third parties, institutions and authorities.
-Special Power of Attorney:
It is emerged by the director for the benefit of the clients, which is valid for 12 months.
A Special Power of Attorney, also known as Limited Power of Attorney, grants the client with particular authority to represent and act the Company for particular matter. For instance, it is useful for the opening of a bank account.