Hong Kong Annual Return: Requirements and Filing Process

If you are a business owner in Hong Kong, it is essential to file your annual returns on time to avoid penalties and maintain compliance with local regulations. This article will provide you with a detailed guide on the requirements and process of filing your annual returns in Hong Kong.

What is an Annual Return?

An annual return is a legal requirement for all registered companies in Hong Kong under the Companies Ordinance. The purpose of the annual return is to provide the government with updated information about the company, including its directors, shareholders, and registered office address.

The following are the requirements for filing annual returns in Hong Kong:

Timeframe: The annual return must be filed with the Companies Registry within 42 days after the anniversary of the company’s incorporation date.

The annual returns in Hong Kong should disclose the following content:

1. Directors: The company must provide the names and addresses of all directors, including any changes that may have occurred during the year.
2. Shareholders: The company must provide the names and addresses of all shareholders, including any changes that may have occurred during the year.
3. Period covered by the financial statements.
4. Share capitals (if any).
5. Details of the company members who own the share capitals.
6. Company records.
7. Registered office: The company must provide the address of the registered office.
8. Company secretary: The company must provide the name and address of the company secretary.
9. Financial statements: The company must include a copy of the financial statements in the annual return.

Preparing Your Annual Return in Hong Kong: A Simple Guide

There are two ways to prepare and file your annual returns in Hong Kong: through hard copies or an electronic form. Here’s how to do it:

Hard Copies: Download the NAR1 form in English or Chinese, fill it out, print it, and have it signed by your company secretary or director. You can then mail it or deliver it in person to the Companies Registry. Remember to include your yearly registration fee payment, payable to “Companies Registry,” with your check.

Electronic Filing: Complete the online form and pay the corresponding fees through the Companies Registry’s e-registry, which is accessible 24/7.

Whether you choose hard copies or electronic filing, make sure to submit your annual return as soon as possible to avoid delays and penalties.

Process of Filing Annual Returns in Hong Kong

The following is the process of filing annual returns in Hong Kong:

1. Obtain the Annual Return Form: The first step is to obtain the Annual Return Form from the Companies Registry or download it from their website.

2. Complete the Form: The next step is to complete the form with all the required information, including the company’s details, directors, shareholders, registered office, and company secretary.

3. Sign the Form: The completed form must be signed by a director, company secretary, or authorized signatory.

4. File the Form: The final step is to file the form with the Companies Registry either online or in person.

Benefits of Filing Annual Returns in Hong Kong

Filing your annual returns in Hong Kong has several benefits, including:

1. Avoiding Penalties: Filing your annual returns on time helps you avoid penalties and legal consequences.

2. Maintaining Compliance: Filing your annual returns ensures that your company remains compliant with local regulations.

3. Building Trust: Filing your annual returns can help build trust with your stakeholders, including shareholders, clients, and investors.

4. Access to Financing: Filing your annual returns can help you access financing options from banks and other financial institutions.

Conclusion

Filing your annual returns is a critical requirement for all registered companies in Hong Kong. By following the requirements and process outlined in this article, you can ensure that you file your annual returns on time and maintain compliance with local regulations. Filing your annual returns can also have several benefits, including avoiding penalties, maintaining compliance, building trust, and accessing financing options.

FAQ

1. What annual return form should I use? How much is the registration fee?

You can use the NAR1 form for filing your annual return in Hong Kong. The registration fee depends on your company’s capital structure. For a company with a share capital, the fee is HKD 105. For a company without a share capital, the fee is HKD 300.

2. When should the annual return be sent?

The annual return must be sent to the Companies Registry within 42 days after the anniversary of the company’s incorporation date.

3. Are Sundays and holidays included in the 42-day period?

Yes, Sundays and holidays are included in the 42-day period. However, if the last day of the 42-day period is a Sunday or a public holiday, the deadline will be extended to the next working day.

4. This year’s business registration cost has already been remitted. Why do I need to pay the annual registration when I submit my annual return for registration to the Companies Registry?

The business registration fee is paid to the Inland Revenue Department, while the annual return registration fee is paid to the Companies Registry. These are two separate fees that serve different purposes. The annual return registration fee is for updating the Companies Registry with your company’s latest information.