Permit’s say you unintentionally commenced business without having registering it with the government. If you don't implement within just a single thirty day period and also you are caught, you're going to be slapped which has a critical penalty of HKD five,000 and imprisonment for just one year, According to the assertion that is certainly mentioned underneath the Business Registration Ordinance.

Hundreds of motorcyclists are inside of a queue at the neighborhood MoT Business in Ganta to sign-up their bikes and acquire license plates

Firms which are needed to comply (“reporting businesses”) will have to file their Preliminary stories by the subsequent deadlines:

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Supply of annual return by a general public firm or a ensure enterprise in respect of the organization’s fiscal 12 months that begins on or just after three March 2014 ought to adjust to The brand new demands underneath the new Companies Ordinance (Cap.

Just one purpose why it is vital to Display screen the BRC constantly is due to the fact at any time a HK government administrative officer can come by for an Formal inspection. In the event your BRC isn't displayed in the Place of work, you will end up slapped While using the aforementioned fines (and more). You must You should definitely have this.

Overseas capable businesses typically have to fork out taxes and yearly report expenses in each their condition of development and states the place they’re overseas capable.

The government also sends reminders and notifications for your renewal in the BRC, which may be pretty helpful.

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This variety is obtained within the Inland Profits Department utilizing the required business registration varieties, making sure that each business has a novel range assigned for its identification.

Will need support navigating the business registration procedure? Our comprehensive firm registration services ensure you fulfill all lawful necessities effortlessly and successfully. Get hold of us company formations now to get started and make sure your business is compliant from working day one particular.

Our skilled accountants will compile your company or individual tax return in one of the most tax productive way achievable.

The operational effectiveness of a Hong Kong business is usually substantially Improved by aquiring a BRN. As a novel identifier, it facilitates a lot easier recognition by federal government departments as well as other entities, optimising business operations.

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