If there is no annual review. What the board is affected by

Hello, are you saying that Hong Kong companies do not have annual audits, what impact does the board of directors have, Hong Kong laws stipulate that Hong Kong companies must conduct annual audits every year, and those who do not timely conduct annual reviews or leave them alone will be subject to the following penalties.

Penalties for Hong Kong companies not to be audited annually:If a Hong Kong company wants to operate normally, it must be reviewed every year; If the annual examination is not carried out in accordance with the regulations** Has the right to impose penalties on the Hong Kong company, and even pursue the legal liability of the company's directors. In addition, if the fine is not paid within the specified time, the board of directors of the company receives a court summons, and if it is left unchecked, Hong Kong will automatically deregister the company within a certain period of timeThe company's directors are on the blacklist and will no longer be able to register the company in Hong Kong, and it will affect Hong Kong transit, Hong Kong entry and exit.

Penalties for Hong Kong companies that continue to operate without annual examination:

Calculated from the day following the anniversary of the company's incorporationA fine of HK$870 for more than 42 days but not more than 3 months;

Calculated from the day following the anniversary of the company's incorporationa fine of HK$1,740 for more than 3 months but not more than 6 months;

Calculated from the day following the anniversary of the company's incorporationa fine of HK$2,610 for more than 6 months but not more than 9 months;

Calculated from the day following the anniversary of the company's incorporation, a fine of HK$3,480 for more than 9 months;

In addition, the Inland Revenue Department will also impose a penalty of HK$300 on companies that have not completed the annual examination.

Therefore,If you do not plan to operate a Hong Kong company, it is best to choose to close down or deregister the company. Otherwise, incenseThe Hong Kong Registrar will assume that the company continues to operate and deal with it as if it was operating without a license, appeal to the Hong Kong court to recover the fine, and the directors will also be included in the list of dishonest persons, affecting Hong Kong entry and exit.

After fulfilling his wish, Chu Sheng was reincarnated and became the son of Mr. Lu, repaying his teacher with his body and his friends with his soul.

According to the provisions of the Company Law of the People's Republic of China, the board of directors may decide to convene a board meeting at any time as needed. The Company Law also stipulates that a meeting of the board of directors shall be held only if a majority of the directors are present. For example, if a company has a total of 9 directors, and there are 7 directors present at the meeting that day, the ratio of more than 1 2 is in accordance with the law.

China's "Company Law" stipulates that the voting of the resolution of the board of directors shall be implemented by one person, one vote. Resolutions of the Board of Directors are valid as long as they are lawfully made.

Yes, a Hong Kong company will be fined if it fails to go through the annual examination beyond the registration date, and the tax bureau will conduct spot checks within one or two years, and the company will be forcibly removed from the list after being found, and the account opened by the company will also be frozen, and the funds cannot be withdrawn.

Therefore, if the Hong Kong company does not want it, it must be cancelled in accordance with the formal procedures, and at the same time, it will also take the initiative to notify the bank to cancel the account and transfer all the funds in the account.

The shareholders' meeting and the board of directors are the organizational structures of the company. The shareholders' meeting is composed of all shareholders and is the highest authority of the company, which has the following rights, including: "deciding on the company's business policy and investment plan; The right to elect and replace directors and supervisors who are not employee representatives, and to decide on matters related to the remuneration of directors and supervisors."

Non-employee representative directors on the board of directors are elected and replaced by the shareholders' meeting. The board of directors, as the executive body of the shareholders' meeting or the general meeting of shareholders, is responsible for the command and management of the company, the enterprise and the business operation activities, is responsible for and reports to the company's shareholders' meeting or general meeting of shareholders, and exercises a number of functions and powers including "implementing the resolutions of the shareholders' meeting", and its rights come from the shareholders' meeting. In practice, because the board of directors cannot effectively perform its functions and powers, the shareholders' meeting has the right to replace the non-employee representative directors, so as to urge the board of directors to perform its functions and powers in accordance with the established direction of the shareholders' meeting.

According to the terms of reference and the method of election and election, the shareholders' meeting is above the board of directors, and the identity of shareholders is only extinguished after the disposal of equity, while the status of directors can be removed after a resolution of the shareholders' meeting. Legal basis: Article 46 of the Company Law of the People's Republic of China The board of directors is responsible to the shareholders' meeting and exercises the following functions and powers:

1) Convene a meeting of the shareholders' meeting and report to the shareholders' meeting; (2) Implement the resolutions of the shareholders' meeting; (3) Decide on the company's business plan and investment plan; (4) Formulate the company's annual financial budget plan and final account plan; (5) Formulate the company's profit distribution plan and loss recovery plan; (6) Formulating plans for increasing or decreasing the company's registered capital and issuing corporate bonds; (7) Formulating a plan for the merger, division, dissolution or change of the form of the company; (8) Decide on the establishment of the company's internal management organization; (9) Decide on the appointment or dismissal of the company's managers and their remuneration, and decide on the appointment or dismissal of the company's deputy managers, financial leaders and their remuneration based on the nomination of the manager; (10) Formulate the company's basic management system; (11) Other functions and powers stipulated in the articles of association.

The Board of Directors is the governing body of the Company.

The shareholders' meeting is the power and decision-making organ of the company.

Then, the board of directors and the board of supervisors shall be established under the shareholders' meeting.

The Board of Directors implements the decisions of the Shareholders' Meeting.

The shareholders' meeting should be larger than the board of directors.

The shareholders are big, try what the three lives and three lives do, and what they do.

The main differences between board fees, directors' fees and directors' allowances are as follows:

1. Point 1, the meaning is different:

Board fees are fees paid by the board of directors and its members for the performance of their functions. Director's fee refers to the reasonable remuneration paid to the members of the Board of Directors by the decision of the Board of Directors. The director's allowance is a monthly allowance paid to directors in the form of a salary schedule.

2. Point 2: The form of obtaining money is different:

Board dues are fees paid for the performance of functions, i.e., expenses incurred to do certain things. Director's fees are reasonable remuneration paid to the board of directors for their labor, i.e., money that can be deposited in a bank and actually exists. The director's allowance is paid in the form of a salary schedule, which is different from the board fee and the director's fee.

3. Point 3: The scope of expenditure is different

The expenses of the Board of Directors include the daily expenses of the Board of Directors and the expenses of the Board of Directors, including the travel expenses, accommodation expenses, food expenses and related necessary expenses of the Board members and related staff during the sessions and working hours of the Board.

Director's fee expenses range from director's fees paid by the company and some personal expenses. The scope of expenditure for the directors' allowance is personal consumption.

4. Point 4: Taxation is different

Board fees are not taxable; Director's fees and director's allowances are taxable.