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What Is The Hong Kong Business Registration Fee?

By FastLane Team, April 9, 2021 (5 mins)

Any business owner who wishes to do business in Hong Kong is required by law to register their incorporation with the Inland Revenue Department (IRD) Hong Kong. This business registration allows for businesses to operate with the legal rights, benefits, and obligations that come with operating in Hong Kong. To ensure that your business remains legal, it is important to keep your business registration up to date and paid consistently.

 

In this article, we will take a closer look at Business Registration in Hong Kong, and how you can work to keep your business legal and valid:

1. What Is The Business Registration Fee For HK Companies?

2. Other Business Registration Fee Types

3. Are There Charges For Renewal Or Cancellation of Business Registration?

4. What Types Of Companies Require Business Registration?

5. How To Waive Your Business Registration Fee? 

6. How To Pay Your Business Registration Fee

7. Handle Your Long Service Payment Needs With Fastlane

1. What Is The Business Registration Fee For HK Companies?

For Hong Kong businesses to receive their Business Registration Certificate, the company must make a payment  (HK BR Fee)  to the business registration office. There are two main types of registration that companies may pay for:

 

  • 1 Year Business Registration: HK$250
  • 3 Year Business Registration: HK$3,950

 

2. Other Business Registration Fee Types

There are other business registrations fees for those looking to open a “branch location” of the same company that is already registered. Business registration for branch sites operate in a similar fashion, with one and three-year registrations:

 

  • 1 Year Branch Business Registration: HK$250
  • 3 Year Branch Business Registration: HK$866

 

3. Are There Charges For Renewal Or Cancellation of Business Registration?

Renewal of business registration will be necessary upon the expiration of a company’s current registration term. Once this term expires, companies must register once more following the IRD-set fees for either a one or three-year registration period.

Cancellation of a business does not require a fee for business registration, but companies that dissolve are required to hold their business registration up to and through the year that the company ceases to exist.

 

Failure to register a business or remain registered can result in penalties and potential imprisonment upon prosecution.

4. What Types Of Companies Require Business Registration?

Knowing what types of businesses and companies are required to register can help you better navigate the process of registration. In Hong Kong, here are the types of companies and businesses that are required to register according to the IRD:

 

  • Any form of business that operates in trade and commerce
  • Any form of business that operates in craftsmanship or profession for the purpose of profit
  • Any club that offers facilities and services to members for the purpose of social recreation
  • Any company that is incorporated under the Companies Ordinance
  • Any foreign company that has established a business location in Hong Kong

 

To know if your company or organization qualifies under the law for business registration, speak with a team of experts. FastLane’s team of experienced legal and financial experts will help you look at whether or not your company identifies as needing business registration, and how to properly register.

5. How To Waive Your Business Registration Fee?

There are exemptions available for companies who wish to avoid paying the business registration fee. If your company operates as a charitable organization, or makes less than $10,000 a year in sales from your primary source of income, you may be eligible for exemption from the business registration fee. To learn if you may qualify for exemption, speak with a trained and experienced business registration expert.

6. How To Pay Your Business Registration Fee?

To register your business, you must submit your documentation and fee to the Hong Kong Companies Registry upon application of incorporation.

 

You can pay your registration fee by paper mail or via electronic payment. The IRD recommends that you pay online to avoid hassle and risk. Once you pay your fee and your registration is complete, you will receive a confirmation and your Business Registration Certificate – recognizing your company as a legal entity under Hong Kong law.

7. Handle Your Long Service Payment Needs With FastLane

If you are looking to expedite the process and receive the information you need fast, the team at Fastlane can help you obtain the (main) Business Registration Certificate, as well as the necessary Certificate of Incorporation upon incorporation of a new company. From paperwork to registration details, Fastlane has the experience and expertise necessary to help you create and operate your business with ease.

 

To learn more, contact our team for more information.



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