Hong Kong company annual examination is also called Hong Kong company annual return, Hong Kong company annual filing. Under the laws of Hong Kong, a Hong Kong company is required to conduct its annual Examination on the anniversary date of incorporation of the company so as to operate legally. The following are some of the frequently searched questions concerning annual examination of Hong Kong company.
Q: What is Annual Examination for Hong Kong company?
The specific work of an Annual Examination for a Hong Kong company includes renewal of the Business Registration Certificate and the delivery of an Annual Return. In Hong Kong, the Business Registration Certificate is only valid for one year and has to be renewed regularly after the anniversary date of incorporation of the company.
In addition, the Companies Registry requires a company to deliver an Annual Return after the anniversary date of incorporation of such company, giving an update on the state of affairs of the company during last year, including such information as the number of shareholders of the company, the names of the shareholders and their shareholdings and its operating.
Q: When would a Hong Kong company conduct its Annual Examination?
Hong Kong government requires a Hong Kong company to renew its Business Registration Certificate and deliver an Annual Return on the anniversary date of the incorporation of the company. The company may incur avoidable fines and credit risk caused from any late delivery.
Q: What if a company fails to conduct an Annual Examination?
For late renewal of the Business Registration Certificate, the company is subject to an additional fine of HK$300 every year in additional to the payment of all outstanding government fees. For late filing of an annual return, the amount of the fees or fine increases as shown below:
Within 42 days after the anniversary of incorporation HK$105;
More than 42 days after but within 3 months after the anniversary of incorporation HK$870;
More than 3 months after but within 6 months after the anniversary of incorporation HK$1,740;
More than 6 months after but within 9 months after the anniversary of incorporation HK$2,610;
More than 9 months after the anniversary of incorporation HK$3,480.
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