5 Easy Facts About HK business registration Described
5 Easy Facts About HK business registration Described
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Allow’s say you unintentionally commenced business without registering it with the government. If you don't use inside one thirty day period and you are caught, you will end up slapped by using a significant penalty of HKD 5,000 and imprisonment for one 12 months, as per the statement that's stated underneath the Business Registration Ordinance.
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Electronic extract of information in regard of minimal partnership money (LPFs) registered underneath the simultaneous business registration application assistance or alterations of LPF particulars transmitted from the Companies Registry will Generally be obtainable for application two Doing the job days once the day of registration, or even the day when the variations were recorded, as the case can be.
The files you may need — and what goes in them — will range based on your point out and business construction.
Micro-entities and compact businesses are permitted to use an exemption so that there's no require for an audit on their own accounts. You are able to determine no matter if you need to deliver a copy of the revenue and reduction account and director’s report. You could have a less complicated equilibrium sheet.
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In quite a few cases, you’ll discover that some shop proprietors would not have to register their businesses, Nevertheless they do require to possess a license for working in Hong Kong.
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Failure to file enterprise accounts by the due date may end up in undesirable late submitting penalties. Late submitting penalties had been released to really encourage directors to file their accounts and reports punctually as this facts is needed for the general public file.
The operational efficiency of the Hong Kong business is usually substantially Increased by possessing a BRN. As a singular identifier, it facilitates a lot easier recognition by authorities departments and various entities, optimising business operations.
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