The minimum number of shares to be issued is two, and there must be two separate shareholders. The minimum authorised and issued share capital is two shares and can be denominated in any currency. The currency of share capital cannot easily be changed once it has been fixed on incorporation. Bearer shares are not permitted. Directors are not required to hold qualifying shares, unless this is specified in the Articles of Association.
Shareholders can be resident or non-resident, and shares can be held through nominees.
Disclosure of beneficial ownership is not required - the only circumstances in which nominee shareholders can be obliged to disclose the true beneficial ownership is under a Court Order in criminal proceedings. Stamp duty is modelled on the British system which imposes fixed duties on certain classes of documents and an ad valorem duty on others. It is levied on assignments of immovable property, leases and share contract notes and transfers. In addition, the Collector of Stamp Duty is empowered to charge additional duty based on the market value of the property conveyed or shares transferred if he is of the opinion that the consideration is inadequate. Every Hong Kong-registered company must have a minimum of two directors.