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Increased Number of Newly Registered Companies in Hong Kong

Written by: Editor

Increased-Number-of-Newly-Registered-Companies-in-Hong-Kong.jpgHong Kong has seen a rise in the total number of registered companies. At the end of June, there were more than 30,000 newly registered companies, compared to the end of 2016. This year, more than 80,000 companies were registered in the first six months, out of which approximately 20,000 were incorporated via the online platform. Company registration in Hong Kong is straightforward, especially if all the documents are in order and prepared beforehand. 
 

More than 1.3 m new locally registered companies in Hong Kong

 
More than 80,500 new companies were registered with the Hong Kong Companies Registry during the first half of 2017. Out of these, 23,691 were registered online, via the e-Registry portal.
 
The number of non-Hong Kong companies that were registered for business purposes in the city was also larger. Compared to last year, during the first half of 2017, there were 462 newly registered companies while during the first six months of 2016 their number was 408. Branches in Hong Kong are still required to register although they are subject to a lighter taxation regime (only on the profits derived from the city and not on their worldwide profits).
 
One of our company formation agents in Hong Kong can give you specific information on the registration of branches in the city. 
 

Company registration in Hong Kong

 
The Hong Kong company formation process is easy and fast. All companies that engage in business activities in Hong Kong must obtain their Business Registration Certificate. The documents, among which the company incorporation documents, the fees and proof of a bank account, are submitted to the Companies Registry. This business certificate, as well as the registration with the Inland Revenue Department (IRS) should be completed within one month following the commencement of the business. The registration with the Companies Registry and with the IRS can be done via a one-stop show system.
 
Hong Kong imposes almost no restrictions on foreign investments. If you would like to know more about how to open a company here, contact our company registration agents in Hong Kong.
 

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