Failure to renew your BRC on time may lead to penalties, which include a penalty of HK£300 for late renewal. Should the certification expires in advance of renewal, there could possibly be extra penalties and court docket proceedings, and you could possibly even be unable to carry on conducting business in Hong Kong.
Though our aim has been over the paperwork essential for compliant business registration, don’t fail to remember that you could possibly will need more business licenses, permits, certificates, or approvals to operate your business in Hong Kong.
To resume your BRC, you'll want to post the completed kind, needed paperwork, as well as a crossed cheque by mail for the specified handle from the Inland Earnings Office (IRD), or it is possible to take a look at the IRD Business office in particular person using your previous business registration certification to ask for a new desire Be aware.
The BRN streamlines functions, facilitates fiscal transactions, assists in opening lender accounts, and guarantees tax compliance, Hence serving as an essential tool for business effectiveness and advancement.
A Hong Kong business can navigate the myriad regulatory needs successfully by getting a BRN. The BRN is a vital reference amount that facilitates the smooth Procedure of businesses, underlining the significance of the company registration system plus the issuance of firm registration numbers.
A restricted liability partnership agreement is undoubtedly an internally binding document involving all companions that defines how business selections get built, Each individual partner's duties, powers, and responsibilities.
The deadline to file a firm tax return is twelve months following the close in the accounting interval. All over again, if it's not submitted by the due date, penalties for late filing will likely be incurred.
The subsequent desk shows the method through which Accredited copies or duplicates of a sound BRC/branch registration certificate are issued as well as delivery time:
In order to trademark your business, manufacturer or item identify, file Using the America Patent and Trademark Business when you’ve fashioned your business.
By scanning the FPS QR code within the Monthly bill or using the TPS to pay taxes, businesses can be certain correct and well timed tax payments, Therefore averting the risk of penalties connected to non-compliance.
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The pointers for exhibiting your BRC are fairly straightforward. It must be prominently exhibited for the tackle wherever your business is situated. This means it should be in a place that’s visible and obtainable.
John and Kelly educated the right authorities that they’re operating a business by registering their company formation Hong Kong auto fix shop.
To obtain Licensed extracts of knowledge of the business or Anyone of its branches around the Business Register, you may utilize via GovHK () and pay out the prescribed price.