Hong Kong company maintenance aims at ensuring normal operation of your business in line with the laws and regulations. After the establishment of a company, it must be properly managed every year. Under the Hong Kong Companies Ordinance, a Hong Kong incorporated company must comply with the following requirements.
I. Annual Return
An annual return is an update of all changes in your company during the previous year to the most comprehensive and correct information for public search. It must be filed with the Companies Registry (CR) at least once a year (except if there has been no change in the filed particulars since the date of the last annual return, in which case a certificate confirming this fact can be filed in lieu of an annual return).
II. Business Registration Renewal
Business registration certificate is a legal business document issued by the Hong Kong Inland Revenue Department (IRD) to business operators and is valid for one year. The inland revenue department issues a business registration certificate replacement notice to an enterprise about 1 month before the completion of the anniversary of each company. Upon receipt of the notice, the company must apply a new registration certificate.
III. Tax Return
The tax return issued by the Inland Revenue Department 18 months after the establishment of the new company will require the company to make its first tax return. The best way to handle the tax return is to submit an accountant's audit report to the Government when it is submitted to the Government. Generally speaking, the company will choose one annual report. If the declaration is zero, it is free to submit.
IV. Auditor's Report
Whether the Hong Kong company is a loss or a profit or whether the source of profits is overseas, whether it needs to be taxed, or whether there is a need to pay taxes, under the laws of Hong Kong, an auditor's report is required for normal trade transactions as long as they are operational. The report submitted to the Government must be an audit opinion issued by a local certified public accountant in Hong Kong on the company's overall financial situation throughout the year.
V. Annual General Meeting
An annual general meeting of the shareholders must be held within 18 months of incorporation and then at least once in every calendar year, although not later than 15 months after the last annual general meeting. An annual general meeting must be held even though there may be no accounts available for presentation to the meeting and no other relevant business to attend to.
Contact Us
If you have further queries, don’t hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143512 or 86-755-82143181 or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.
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