nsc1

If a Hong Kong company releases new shares, it must notify the Companies Registry by utilizing the NSC1 Form (Return of Allotment). It helps ensure compliance with Hong Kong’s Companies Ordinance (Cap. 622) and good corporate governance.

Here we will inform you:

The utilization of the NSC1 Return of Allotment

Who has to submit it and when?

How to complete and submit the shape as it should be to save you consequences

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    What Is the NSC1 Form

    What is the Return of Allotment NCS1?

    The NSC1 Form is a legal document evidencing new shares issued in a Hong Kong corporation. It ought to be filed with the Companies Registry inside one month of the problem of the stocks.

    Who is needed to record the NCS1 Form?

    Any non-public or public corporation in Hong Kong that has issued new shares.

    The employer director, the secretary, or someone allowed to do so ought to post the shape.

    Main Elements of the NCS1 Form

    • Company records (Name, CR number)
    • Shareholder info (new and existing)
    • Information on shares issued (Number of stocks, type, and price received)
    • Signatures of legal employees

    NSC1 Filing Rules

    Documents to be submitted

    • Completed NCS1 Form
    • Board selection to approve the share distribution.
    • List of members up to date
    • Share certificate of newly issued stocks

    Timeline for Filing

    Due date: One month from the date of difficulty of shares.

    Late submission penalties: Not submitting on time can lead to penalties and rule compliance troubles.

    Legal Obligations

    According to Hong Kong’s Companies Ordinance, not following NCS1 filing rules can result in:

    Financial penalties on the company and defaulting officers

    Possible problems in future transactions or transfers of shares.

    Step-by-Step Guide on How to Complete the NSC1 Form

    Step-by-Step Guide to the Form

    • Insert company details (Company name and CR number)
    • Enter shareholder details (Name, ID, and share percentage)
    • Give the allotment details (Number of shares, class of shares, issue price)
    • Attach supporting documentation (Board resolution, share certificates)
    • The form should be signed and dated by the company director or secretary.

    Common Mistakes to Avoid

    • Wrong shareholder information (Does not match company records)
    • Without signatures by authorized individuals
    • Late filing, which leads to compliance fines

    Where and How to Post the NSC1 Form

    Submission Procedures

    Electronic Filing – Through the e-Registry system of the Companies Registry

    Submission of Paper – Postal or personal delivery to the Companies Registry

    Submission Address & Contact Information

    • Companies Registry, Queensway Government Offices
    • +852 2867 2587
    • Companies Registry Website

    Filing Fees

    No official filing fee for NSC1 submission

    However, there may be extra costs for legal or corporate secretarial support.

     

    What happens once you submit NSC1?

    Processing Time

    Standard processing time: 5-10 business days

    Urgent cases: Quicker processing may be available for additional fees.

    Potential Follow-Ups

    The Companies Registry can ask for further documents or amendments.

    The company should make sure that its list of members is updated appropriately.

    Checking Submission Status

    Login into e-Registry to view your online submissions.

    Call or go to the Companies Registry for updates on paper filing.

    Common Questions About NSC1 Return of Allotment

    What happens if I don’t meet the NSC1 deadline?

    Late filing will incur penalties on the company and its defaulting officers. It would be best to file the form as soon as possible in order to be able to meet the requirements.

     

    Can I modify my Return of Allotment after it is submitted?

    Yes, you can correct errors by making an application to the Companies Registry.

     

    Whom can I approach for help with NSC1 filing?

    You can contact a corporate secretarial firm like FastLane HR to arrange for timely and appropriate filing.

    Conclusion

    NCS1 Form is utilized for declaring share allotments in Hong Kong. Companies must submit it within one month to stay compliant. Accuracy in filling and filing is necessary in order to avoid legal penalties.

    How FastLane HR Can Assist

    Processing company documents such as NCS1 can be complex. FastLane HR provides: Assistance with NCS1 submission and compliance

    Submit timely to achieve deadlines and not incur penalties

    Complete secretarial services to Hong Kong companies.

    Having trouble with NSC1 filing? Contact FastLane HR today for expert guidance!