Permit’s say you accidentally commenced business without the need of registering it with the government. If you don't utilize within a person thirty day period and you simply are caught, you're going to be slapped using a severe penalty of HKD 5,000 and imprisonment for a person yr, According to the statement that is certainly stated beneath the Business Registration Ordinance.

You'll be making use of your company tax return and organization accounts to ascertain the quantity of Corporation Tax that you'll want to pay out. However, it may be a tiny bit puzzling For the reason that due date of your corporation tax payment is in advance of your organization tax return.

Sounds uncomplicated, doesn’t it? That’s mainly because it is! With the correct setting up and preparing, the application procedure for the BRC is usually straightforward and problem-absolutely free to successfully total firm incorporation.

You can find selected exceptions by which you do not demand a business registration certification. If you are an individual utilized by a corporation in Hong Kong, You're not envisioned to have a BRC.

It’s envisioned which the business applies for and gets the BRC in thirty days of initiating functions based on the Firms Ordinance suggestions.

Functioning your very own business is amazingly gratifying, but for the monetary yearend, factors can sometimes turn into annoying and time-consuming, especially if You aren't a reliable accountancy Experienced attempting to compile a list of accounts.

However, as our Web-site is made up of sizeable multi-media contents, it is impossible to include all Level AA accessibility needs in all of these. Even so, the multi-media contents are so Found as never to have an effect on company formations the accessibility of substantial contents in our website.

It is possible to dissolve a business either compulsorily or voluntarily. Even though in the following paragraphs, We'll mostly concentrate on compulsory dissolution, we can even be speaking about voluntary strike-off.

Enterprise dissolution (or business strike off) is basically one of many suggests of formally shutting down a firm and reducing its history from the Companies Sign-up.

The Companies Registry is conducting a Customer Service Study to gather viewpoints from customers and help us understand your preferences and boost our expert services. We would want to invite you to accomplish the study type on the internet for the connection under:

Micro-entities can decide to have simpler accounts that fulfill the statutory minimal prerequisites, and only provide their equilibrium sheet to Firms Home.

Failure to file business accounts on time can result in unwelcome late submitting penalties. Late filing penalties had been introduced to encourage administrators to file their accounts and stories by the due date as this data is needed for the public history.

Given that the voice of our products and capabilities, Gabi would make elaborate business finance and accounting matters easy to comprehend. Her leading precedence is guaranteeing that her terms effects and inspire her visitors.

But its operate doesn’t stop there — the Business Registration Range is employed for submitting once-a-year returns. Neighborhood companies have to submit an yearly registration rate in just 42 times following the newest anniversary, whilst community companies need to accomplish that inside of forty two times right after the corporation’s return.