Securing an official registered address in Hong Kong is crucial in the initial phases of establishing your company. However, business dynamics may necessitate changes later on, driven by factors such as expansion to meet corporate objectives.
In today’s article, we will cover everything about this transition to help you efficiently change your business address online or in person. From the requirements to insights involved in a business address adjustment, let’s explore!
What is a registered business address in Hong Kong?
A business registration address, also known as a registered address, is a physical location where a business is formally registered with the government.
This address serves as the official point of contact between the business and the Hong Kong government authorities for legal and administrative matters.
It’s important to note that a registered address may not necessarily be the same location where the day-to-day business activities take place.
To register a company in Hong Kong, you must meet specific requirements for the registered address, as outlined below:
- The registered address must be a physical location within Hong Kong and cannot be a post office (P.O.) Box or a virtual office.
- Residential addresses do not qualify. The registered address should be situated in a commercial or industrial building, not a private residence or apartment.
- The registered office must be located within the territory of Hong Kong and cannot be situated outside of Hong Kong.
- The address needs to be publicly accessible during regular business hours
- The company name and type must be displayed clearly at the registered office or place of business.
Common reasons for changing a registered address in Hong Kong
Adjusting and maintaining a valid business address holds significant importance for several reasons:
All businesses are obligated to possess a valid address when setting up a Hong Kong company. This adherence to regulatory requirements enhances the company’s reputation and reliability, especially when dealing with clients, partners, or investors.
For businesses seeking domestic expansion in Hong Kong, updating the registered address to reflect on-site business operations is essential. Local customers and partners tend to favor businesses with a credible local address. Thus, having an office in Hong Kong is more convenient for various activities such as utilizing storage to reach the local market.
Lease expiry or termination
As the lease agreement for the existing address expires, companies must explore alternative business locations. The end of a lease period presents an opportune moment for reassessment and strategic decision-making. This could be prompted by the need for a more cost-effective lease or a larger or more suitable space to accommodate business growth.
Regardless of the reason, adjusting the business address is a common occurrence that demands careful consideration, so be sure to navigate the process thoughtfully.
How to change the registered address in Hong Kong
As your company develops, changing your registered address in Hong Kong may become inevitable. Let’s take a look at the step-by-step guide below for insights.
Step 1: Conduct a meeting to pass a board resolution
The board of directors must first convene a formal meeting to discuss and approve the change. Ensure proper notice of the meeting is given to related parties, and that the meeting is conducted in compliance with the company’s Articles of Association and statutory requirements.
During the board meeting, a board resolution should be passed to approve the change of registered address. The resolution should include details of the new registered address and any other relevant information.
Is shareholders’ approval required for a change of address in Hong Kong?
Changing the registered address of a Hong Kong company typically does not require shareholders’ approval, unless the company’s Articles of Association specifically determine otherwise.
Step 2: Notify the Companies Registry and the Inland Revenue Department
Updates to the registered address of your Hong Kong company require notification both to the Companies Registry and the Inland Revenue Department (IRD).
You are required to send a notice to the Companies Registry (CR) within 15 days of the registered address change. This notice is submitted using Form NR1 – Notice of Change of Address of Registered Office electronically, by post, or in person.
The receiving address is the Companies Registry, located on the 14th floor of the Queensway Government Offices, 66 Queensway, Hong Kong.
It is important to complete this form either in English, Chinese, or both and have it signed by the secretary or director of the company.
Penalties for not delivering the notice on time
If a business fails to notify the Companies Registry within the specified time limit through the notice of change of address of registered office, both the company and every responsible person are deemed to have committed an offense.
Consequently, each subject is liable to a fine at level 5 (HK$50,000) and, in the case of a continuing offense, an additional fine of $1,000 for each day the offense persists.
Inland Revenue Department (IRD)
Within one month of the registered address change, you should notify the IRD by submitting Form IRC3111A – Business Registration: Notification of Change of Business Address to the Inland Revenue Department (IRD).
This notification ensures that the IRD has the correct address for tax-related matters.
Notably, you can decide whether to notify the Companies Registry and IRD separately or use the e-Registry one-stop notification service to request that the Companies Registry informs the Inland Revenue Department of the new address on your behalf. By using this service, you can avoid the need to notify both authorities separately.
This one-stop function is also available through the CR eFiling mobile application.
Step 3: Inform the Business Registration Office of the change
After you have updated the registered address with the CR and IRD, you should also inform the Business Registration Office of the change.
You can do this by submitting a written notification to the Business Registration Office within one month of the address change. This notification should include the following details:
- The Business Registration Number;
- The business name;
- The old and new addresses; and
- The date when the registered address was changed.
Change your business address online seamlessly with BBCIncorp
At BBCIncorp, in addition to company formation and banking solutions, we offer a range of corporate services, including seamless online processes for changing your company name, officers, and business address.
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Step 4: Update company records
Following the official notification and approval processes for changing the registered address in Hong Kong, you shall then internally and externally update all company records.
Relevant paperwork might encompass letterheads, business cards, websites, downloadable files, and any other official documents that prominently display the registered address.
After that, you should communicate the changes clearly to your bank service providers and any other pertinent parties, including clients and suppliers. Providing timely notification ensures that these stakeholders have accurate information, preventing disruptions in any future operations.
To wrap up
Whether you’re experiencing growth, relocating, or realigning your business strategy, changing your company’s address is not just a mandatory task but also a crucial step in building a successful enterprise.
In this article, we have provided a clear roadmap to help you navigate the process of changing your business address in Hong Kong. This includes passing board resolutions, notifying relevant authorities, and updating your documentation.
If you need a reliable corporate service provider to help you navigate these changes seamlessly, please do not hesitate to reach out to us today via firstname.lastname@example.org. We offer timely assistance and consulting to your queries.
Disclaimer: While BBCIncorp strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact BBCIncorp’s customer services for advice on your specific cases.
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