Different types of organizations less than the Companies Ordinance and variations affecting corporations limited by assurance
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With influence from one March 2018, a new licensing regime for have confidence in or firm assistance vendors has come into operation. Any person who carries on or wishes to carry on a have confidence in or firm assistance business in Hong Kong is necessary to make an application for a licence through the Registrar of Corporations.
John and Kelly’s point out also demands that they offer documents on the tax board soon immediately after registering (not all states have this requirement).
The BRN plays a pivotal role in creating a checking account for any business. Utilized as a company identification Software, the BRN is needed for effectively administrating the nation’s tax laws in the opening of the business account.
Register your business Sign up your business to make it a distinct lawful entity. How and where you need to sign-up relies on your business framework and business site. Articles
Should you have a business in Hong Kong, you must apply for a BRC within thirty times of initiating the operations. If the details of one's business alter, you will need to notify the Business Registration Office environment inside of 30 times to produce an suitable update on the registry.
The next table exhibits the manner wherein Qualified copies or duplicates of a legitimate BRC/branch registration certificate are issued and the delivery time:
In addition, with the implementation with the Creating Tax Electronic regulations in 2023, it truly is even more essential that you sustain specific electronic information of your respective transactions. You should be able to comply with the legislation Should you have our assistance.
Have amongst our authorities register your organization for VAT totally on line without any signatures essential.
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Typically, statutory accounts encompass a harmony sheet, a revenue and decline account, along with notes pertaining to the accounts. A harmony sheet indicates all the things that the business owes, is owed, and owns. HK business registration A profit and reduction account indicates the jogging costs, gross sales, and any earnings or decline obtained by your business about a certain money period.
On top of that, failure to adhere to BRC rules can have a considerable impact on your business’s operating and could end in the forfeiture of business potential customers as a consequence of penalties and fines.
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