Irina Otrokhova

On 26 June 2015, Directive EU 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (Directive EU 2015/849) entered into force.

Currently, all areas of life and economic activities experience difficulties with operating, including areas of corporate management and corporate reporting.

The past year brought significant changes to Hong Kong corporate administrators. Since 2018, provision of corporate services and nominal services has become licensed, and the Registrar of Companies has become responsible for issuing licenses.

Under the current global circumstances, pretty much all business areas face difficulties, including financial institutions and corporate administrators. All current and potential clients are important for any company, but especially in any unstable economic conditions.