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Hong Kong Ends Business Registration Fee Waiver

by Mary Swire, Tax-News.com, Hong Kong

27 February 2017


Hong Kong's Inland Revenue Department has confirmed that business registration fees for business registration certificates will become payable again from April 1.

The fee for a one-year BRC normally totals HKD2,250 (USD290), made up of a HKD2,000 fee and a HKD250 annual levy for the Protection of Wages on Insolvency Fund.

Hong Kong decided to waive the HKD2,000 over the past year, while the levy remained payable.

It is anticipated that there will be an upsurge in demand for new business registration services in March 2017.

The IRD stressed that, under the one-stop company and business registration service, companies are required to lodge only one single application for company and business registration with the Companies Registry. An applicant for company incorporation is deemed to have applied for business registration simultaneously, and is no longer required to apply to the Business Registration Office for registration.

TAGS: compliance | tax | business | company formation | tax compliance | fees | Hong Kong | services

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