Business Registration in Hong Kong

The Business Registration Ordinance requires every person who carries on a business in Hong Kong to apply for business registration within 1 month from the date of commencement of the business and to display a valid Business Registration Certificate at the place of business. If the registered particulars of the business have changed, the business operator has to notify the IRD in writing within 1 month of the change.


In order to operate a company in Hong Kong, you need to meet several complicated criteria. For starters, you're required by law to have a local resident company secretary. You also need a local registered address and maintain an auditor.

In this light, it's clear that you need a company secretary in Hong Kong, but how does this service benefit you in other ways? Ways that go beyond merely complying with the law.

Renewal of Business Registration
For registered business, a business registration renewal demand note will be sent by the Business Registration Office approximately in the middle of the month preceding the commencement month of the renewal Business Registration Certificate.  For example, if the renewal Business Registration Certificate will commence in May, the Business Registration Office will issue the demand note in mid-April. Upon payment, the demand note will become a valid Business Registration Certificate. If you do not receive such a demand note, you should inform the Commissioner in writing within 1 month of the expiry of your current Business Registration Certificate.

There are two types of business registration certificates, namely a 1-year certificate, and a 3-year certificate. Except for the first registration certificate of local companies, the amount payable under a certificate depends on the commencement date of the registration certificate. For a new business other than a local company, the commencement date of its first registration certificate is its date of commencement of business, not the date of application for business or branch registration.






Location: Hong Kong

Comments

Post a Comment

Popular posts from this blog

Top Advantages of Using Tally Accounting Software

Image
In the world of accounting a d finance, Tally ERP is the name that shines the brightest.  From a student to a professional, everyone has heard of or used tally accounting software at some point. But unfortunately, there are only a handful of students and professionals who can use this software to its full potential. Apart from saving your money on large data and account management, tally accounting software also adds great value to your business.  Below we have listed some popular benefits of tally accounting software to help you understand how and why tally ERP important for your business. Read on to find out more. 1.    Effortlessness data Movements A major benefit of tally accounting is effortless data movement with the business. It allows employers to view the updated data file without moving it from one department to another. 2.    Fewer expenses on collection and transfer of data  By employing business management software like tally ERP, you can reduce the expe
Keep reading

Difference between Company registration and business registration

Image
They Play Different Roles Company registration, business registration and trademark registration in Hong Kong serve different purposes. They are regulated by different laws and registration systems administered by different government departments. Companies Registry The Companies Registry administers and enforces the Companies Ordinance (Chapter 622, Laws of Hong Kong). The Companies Registry is responsible for providing services for the incorporation of local limited companies and the registration of non-Hong Kong companies which were incorporated outside Hong Kong and have established a place of business in Hong Kong. Business Registration Office The Business Registration Office under the Inland Revenue Department administers the Business Registration Ordinance (Chapter 310, Laws of Hong Kong). The Business Registration Office is responsible for registering businesses carried on by an individual, a partnership, a local limited company or a non-Hong Kong co
Keep reading

All you need to know before you Learn Tally ERP 9

Image
Planning to learn Tally ERP 9 ? Here’s everything you should know about this trending accounting software.   A little about Tally ERP 9 Tally ERP 9 is a popular accounting software that is being preferred by over a million businesses across the globe.  With the efforts of hundreds of talented developers, Tally ERP 9 has evolved from basic accounting software to must-have business management software. This software is designed to meet the wishes of the small, medium, and developed businesses with distributed business operations.  Here in this post, we have listed some essential points that will help you get a better idea of the benefits and scope of learning Tally ERP 9. Read on to know more about this globally recognized accounting and inventory management software.    Major functions performed by Tally ERP 9 Below listed are 5 major operations that are performed by Tally ERP 9. Basically, Tally ERP 9 is applicable in operations associated with stock handlin
Keep reading