Singapore, Singapore Jul 31, 2023 (Issuewire.com) - Its been a notoriously slow, difficult, and costly process to verify Hong Kong businesses. It exposes companies to operational and reputational risks. AsiaVerify has changed that, with easy, instant, and highly-accurate verification checks that are cost-effective.
Hong Kong is a global financial hub for multiple industries. Verifying any companys legitimacy and establishing ultimate ownership is a priority, whether the business is a vendor, customer, or potential partner. Failing to perform due diligence can result in regulatory repercussions, steep fines, and loss of reputation. Identifying trusted sources becomes a critical first step when doing a Hong Kong company check.
AsiaVerify makes company records available by connecting to authoritative sources in the Asia-Pacific (APAC) region. Traditionally, verifying a Hong Kong business begins with searching the firms Hong Kong Company Registry Database and entering the business name or registration number to ascertain critical information ranging from directors and shareholder structure to the business address. Any discrepancies between the information a firm provided and the official information retrieved is a potential red flag and requires further conversations with the company.
Furthermore, key legal documents have to be reviewed throughout the process, such as the companys Certificate of Incorporation, Articles of Association, business registration, and annual returns. The final step in conducting Hong Kong KYC is understanding who are the shareholders, directors, and beneficial owners of the business. More information can be found in the Step-by-Step Guide recently published by AsiaVerify.
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AsiaVerify eliminates labor-intensive processes and instantly verifies a Hong Kong business. Clients have access to public records, and company registration, and can generate a comprehensive profile, all in one platform. The automated process saves time, and money, and reduces compliance risk with the most accurate and current records available, providing transparency, accountability, and operational efficiency.
Verifying a Hong Kong business is now an instant and cost-effective process with AsiaVerify. The verification tool provides critical insight into Hong Kong companies. AsiaVerify provides all the information needed to help companies make informed decisions when Onboarding Asian Clients, vendors, partners, and other stakeholders.
AsiaVerify is a RegTech company, incorporated in Singapore, focused on building an automated, simplified, and streamlined solution for risk mitigation and compliance systems in an effort to increase trust and safety when you are doing business in Asia. AsiaVerify provides an online platform with access to the most legally authoritative and compliant sources, to instantly verify businesses, consumers, and shareholder sonline.
This article was originally published by IssueWire. Read the original article here.