This Jurisdictional Notice outlines the legal framework and specific regulations that govern the services provided by Online Company Register across various jurisdictions. By using our services, you acknowledge and agree to comply with all relevant laws and regulations applicable in your jurisdiction.
1. Overview of Jurisdictional Notice
Online Company Register operates globally, offering company formation and business-related services across multiple jurisdictions. This section highlights the jurisdiction-specific legal frameworks, compliance obligations, and other important factors that clients should be aware of when utilizing our services.
2. Applicable Laws and Regulations
The services we provide are governed by the laws of the jurisdiction in which they are offered. Below are the primary legal frameworks for the countries where we operate:
- Hong Kong: Company formation and banking services are governed by the Companies Ordinance (Cap. 622) and regulations from the Hong Kong Monetary Authority (HKMA).
- Singapore: Services are governed by the Singapore Companies Act and the Monetary Authority of Singapore (MAS) regulations.
- USA: Company formation and banking services are subject to federal and state laws, including compliance with the Bank Secrecy Act (BSA) and USA PATRIOT Act.
- Australia: Company registration is governed by the Corporations Act 2001 and enforced by the Australian Securities and Investments Commission (ASIC).
- Other Jurisdictions: Additional jurisdictions where we offer services may be subject to their respective national and regional laws, including business, banking, and taxation regulations.
3. Jurisdiction-Specific Requirements
Each jurisdiction has unique requirements for company formation and banking setup, which are critical for clients to understand:
- Hong Kong: No minimum capital requirement for company formation. However, directors and shareholders may need to meet certain residency or nationality conditions.
- Singapore: A minimum of one director who is a resident of Singapore is required. Additional requirements may apply for specific business types.
- USA: Residency requirements for company directors and officers vary by state. Additionally, you may need to establish a physical address for business operations in the state of incorporation.
- Australia: A local director is required, and companies must maintain a registered office in Australia. A minimum capital requirement may apply depending on the business structure.
4. International Data Protection Laws
We are committed to complying with global data protection laws. This includes, but is not limited to, the following:
- General Data Protection Regulation (GDPR): If you are based in the European Union (EU), your personal data is protected under the GDPR. We ensure that any personal data we collect, process, or store complies with the GDPR’s stringent privacy and security requirements.
- California Consumer Privacy Act (CCPA): For clients in California, USA, we adhere to the CCPA in relation to the collection, use, and sale of personal data.
- Other Data Protection Laws: Our services are compliant with relevant data protection and privacy regulations in all operating jurisdictions, including Canada’s Personal Information Protection and Electronic Documents Act (PIPEDA), and Australia’s Privacy Act 1988.
5. Legal Disclaimer on Cross-Border Operations
By using our services, clients are responsible for ensuring their business complies with local laws and regulations in their respective operating jurisdictions. While we provide assistance with business formation and banking, we do not guarantee compliance with local legal or regulatory requirements outside of our services.
6. Tax Implications and Reporting Requirements
When establishing a company in a foreign jurisdiction, it is crucial to understand the tax implications and reporting obligations:
- Tax Obligations: You are responsible for complying with tax laws in both the jurisdiction where your company is formed and any jurisdictions where your business operates.
- Tax Treaties: We recommend reviewing tax treaties between your country of residence and the jurisdiction where you are establishing your company, as they may impact your tax liabilities.
- Reporting Requirements: Depending on the jurisdiction, there may be reporting obligations related to income, financial statements, and transactions. These obligations must be met to avoid penalties.
7. Dispute Resolution and Governing Law
Any disputes arising from the use of our services or this Jurisdictional Notice will be governed by the laws of the jurisdiction in which the services were rendered.
- Arbitration: Disputes may be resolved through binding arbitration under the rules of the Hong Kong International Arbitration Centre (HKIAC) or other arbitration bodies, depending on the jurisdiction.
- Mediation: Before arbitration, parties may agree to mediate the dispute with a neutral third party.
8. Limited Liability Disclaimer
Our liability is limited to the maximum extent permitted by law in the relevant jurisdiction. We are not liable for any damages, financial loss, or legal actions resulting from the use of our services.
9. Anti-Money Laundering (AML) and Know Your Customer (KYC) Compliance
We adhere to global AML and KYC compliance procedures to prevent money laundering, fraud, and the financing of terrorism. These regulations require us to verify the identities of our clients before providing company formation or banking services. Clients are required to provide necessary documentation for KYC verification as part of the registration process.
10. Client Responsibility for Compliance
While we assist with company formation and banking setup, clients are solely responsible for ensuring their business activities comply with local laws and regulations in the jurisdictions where they operate. This includes compliance with tax, labor, intellectual property, and other applicable laws.
If you have any questions regarding this Jurisdictional Notice or require further clarification, please contact us
