Hong Kong’s business registration ordinance
An amendment was made to the business registration ordinance. It was introduced in the Legislative Council on June 15 and took effect on June 17th.
The purpose of this order amendment is to cut the annual business registration levy, which will be reduced from $250 to $150.
Conditions that qualify for a reduction in the levy
This new levy applies to companies that
- register on or after June 17
- have a day-of-commencement business or branch registration certificate on or after June 17.
A few points to keep in mind
- You submit your company registration application to the Company Registry before June 16th, however, your business registration certificate is given after June 17th, 2022. You are still unable to lower your levy to $150.
- If you have a day-of-commencement business or branch registration certificate before June 17, you cannot request a refund of a part of the levy paid.
- You will have to pay a different total amount of levy depending on the number of years on your certificate of business registration or branch registration certificate and incorporation submission date. For further information, see the table provided by the Inland Revenue Department.
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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