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Number of Hong Kong-Registered Firms Nears 1.3m

by Mary Swire, LawAndTax.News.com, Hong Kong

12 January 2016


According to the statistics released by the Hong Kong Companies Registry, the total number of local companies registered under the Companies Ordinance at the end of 2015 was 1,288,666, up nearly 16,000 from last year.

While there was a net increase in the number of companies registered, the number of new registrations fell in 2015 to 139,209, from 167,280 registered in 2014. However, the Companies Registry welcomed the fact that 35,448 of the new companies were incorporated online at the e-Registry via the new one-stop electronic company incorporation and business registration service.

The Registrar of Companies, Ada Chung, said: "The Registry launched a full-scale electronic filing service covering all specified forms on March 3, 2015. The electronic service not only facilitates the reporting and disclosure of company information but also enhances the efficiency of filing for companies."

In addition, 894 non-Hong Kong companies that have newly established a place of business in Hong Kong were registered under the Companies Ordinance last year, an increase from 811 in 2014. The total number of registered non-Hong Kong companies reached 10,029 by the end of 2015, up 4.21 percent on an annual basis.

TAGS: business | company formation | law | offshore | internet | Hong Kong

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