This article will explain everything about the certificate of registration Hong Kong businesses must know. That includes registering a company in Hong Kong, renewing your business registration, and the potential penalties for non-compliance.
What businesses are required to get a certificate of registration Hong Kong?
According to the Companies Ordinance, the following business structures and entities must obtain a certificate of registration in Hong Kong:
Businesses established in Hong Kong or non-Hong Kong business that has opened a branch office there
Non-Hong Kong businesses that maintain a liaison or representative office there
Any profit-oriented profession, trade, or activity
Any club offerings its members access to facilities, services, and exclusive club areas for socializing or recreation
What should be included when applying for a certificate of registration Hong Kong?
The registrar will require several documents when you register a business in Hong Kong. These files include:
Your company's articles of association.
A form for business registration with the following information
Name of your business
Registered office of the business
Description of the business
Information on the board of directors, shareholders, and local company secretary
Share capital
Why is a certificate of registration Hong Kong necessary?
The Inland Revenue Department's certificate of registration in Hong Kong is crucial at all times, not just when the company is incorporated. It is also valuable to third parties like banks and other companies and necessary for appropriate compliance, reporting to the authorities, and identification.
When should a business apply for a certificate of registration Hong Kong?
When establishing a business in Hong Kong, you must apply immediately after getting your certificate of incorporation from the Companies Registry.
The incorporation form (Form NNC1, NNC1G, or NN1) will be deemed a business registration application once filed to the Companies Registry, simplifying the application procedure for those seeking to register a company (i.e., One-stop Company and Business Registration service).
Meanwhile, the certificate of registration in Hong Kong must be applied for within a month of the business' starting date for sole proprietorships, partnerships, non-Hong Kong companies, and local branches.
What should be done with the certificate of registration Hong Kong?
You are required to visibly display your valid Business Registration Certificate at the place of business in case it needs to be officially inspected. You must also display a printed copy of this certificate if it is issued in electronic form.
What are the penalties for non-compliance with business registration?
If you don't apply for business registration, you violate the law and might face a $5,000 fine and a year in jail.
In addition, if you apply for business registration more than 12 months after starting your business, you will need to pay the following fees:
Current year's business registration fee and levy
All levies and fees for the past years related to business registration under section 7(3) of the Business Registration Ordinance
How can a business renew its certificate of registration Hong Kong?
The Business Registration Office will send a notice demanding renewal before your business registration certificate expires. The demand note will become a legitimate Business Registration Certificate once paid. The Commissioner must be notified in writing within one month of your present Business Registration Certificate expiring if you have yet to receive such a demand note.
Who can help businesses acquire and renew the certificate of registration Hong Kong?
If you are still wondering how to start a business in Hong Kong, you can contact a corporate services provider for help. SJH Global is one such company that will help you with the required legal processes and documentation, so that your business can get registered on time.
SJH Global has a team of professionals with years of experience in handling company secretarial services, and they’re eager to help you with all your needs. Feel free to contact SJH Global today.
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