Hong Kong is one of top popular business hubs in the world because of its location, IT development and a home for skilled workers all around the globe. Therefore, it has become a paradise for start-ups and entrepreneurs who are wishing to set up a business. Moreover, there are numerous advantages for corporating a business in Hong Kong. One of the peaks about doing business in Hong Kong is the ease and hassle-free business registration. However, there are few steps you need to understand if you are a new to this topic as an entrepreneur. This blog will help you to have wider view about the procedures steps by steps.
Businesses Required to Register
Below is the type of businesses that need to be registered at the IRD. If your business includes in one of these, make sure to apply the business registration on time. Within a month of your business’s launch date, you must submit application to the BR Office for registration.
- Any form of trade, commerce, craftsmanship, profession, calling or other activity carried on for the purpose of gain;
- Internet businesses
- Club which provides facilities, services and exclusive club premises to its members for social intercourse or recreation;
- Local company or non-Hong Kong company that has established a place of business in the Hong Kong SAR, regardless of whether it is actually carrying on any business in the Hong Kong SAR; and
- Non-Hong Kong company that has a representative or liaison office in the Hong Kong SAR, or has let out its property situated in the Hong Kong SAR, regardless of whether it has established a place of business in the Hong Kong SAR.
BR Registration Fee
With effect from 1 April 2024, the registration fees payable are as below.
One year of business registration certificate cost 2200$ and 5720 for three years. For branch registration certificate, it costs 80$ for one year and 208$ for three years.
Name for Business Registration
Registering a business name, you can choose to register with a Chinese name or an English name or both English and Chinese name. For a Chinese name, you may include English alphabets, but not English words.
Types of Application for Business Registration
There are 5 types of application for 5 different types of purposes. Here are the sample applications for your reference.
|
(1)Form 1(a) – |
Application by an individual for registration of business carried on by him in Hong Kong. |
|
(2)Form 1(b) – |
Application by a body corporate for registration. |
|
(3)Form 1(c) – |
Application by partnership (other than limited partnership fund) or by other body unincorporate for registration of business carried on by such body in Hong Kong. |
|
(4)Form 1(ca) – |
Application by a limited partnership fund for registration. |
|
(5)Form 1(d) – |
Application for registration of branch business carried on in Hong Kong. |
How to Collect Business Registration Certificate
You can collect the paper within 30 minutes of the receipt of properly completed application over the counter if you go to the to the Business Registration Service Counter at Business Registration Office in person.
By post, you can collect the paper send by post, which is issued within 2 working days of the receipt of properly completed application.
Through GovHK, you can get the electronic record with a click by downloading via GovHK by the applicant. The duration will be within 2 working days of the receipt of properly completed application
If you need help with business registration, you can make consultation with Fastlane HR today. We can get the work done with our professionals who have given satisfaction to variety of clients for years.