Service Hotline: 0755-8218419 Email: selinawu@citilinkia.com
What is Hong Kong Company Annual Return?
Hong Kong company Annual return also called, Annual Renewal. According to the laws of Hong Kong, Hong Kong company should conduct annual return with both the Hong Kong Companies Registry and Inland Revenue Department to apply for and obtain a new year's business registration certificate in order to keep the company operates legally.
What is the time to do the Annual Return?
The Annual Return of a Hong Kong company is required every year based on its registration date. But it is suggested to file for the annual return at least one month in advance in order to complete it timely. For example, if your company registered on August 8, 2020. It is suggested to start the Annual Return no less than July 8, 2021. If it happen to meets any festivals/ public holidays, you may consider to start it two months earlier.
What materials required for the Annual Return?
a. Original Copy of Signed Annual Return Filing Forms;
b. Copy of Hong Kong Certificate of Incorporation;
c. Copy of Hong Kong Company Business Certificate;
d. Copy of Hong Kong Company M & A;
e. Company Incorporation Papers; (D1, D3, R1 Forms )
f. Latest copy of Identification Card of All Directors and Shareholders
g.Address proof of shareholders and directors(3 months)
(If you used our service for company registration, Items for 4 & 5 are not required)
What if a Hong Kong company fails to do the Annual Return on time?
If a Hong Kong company fails to do the annual return, it may face the following consequences:
1.The bank accounts may be closed and the customers' new accounts will be affected if a Hong Kong company do not conduct annual return and that be found by the Bank of Hong Kong when they carry out KYC and KYB audit on the Hong Kong companies. This will also influence the future business or reputation of the compay.
2.Penalty will occur:
Once overdue the annual review, 300 HKD will be fined by Hong Kong Inland Revenue Department.
Regarding the annual return to the Inland Tax Department, it is as follows:
>Overdue more than 42 days but lest than 3months Fines $870
>Overdue more than 3 months but lest than 6 months Fines $1740
>Overdue more than 6 months, but lest than 9 months Fines $2610
>Overdue more than 9 months Fines $3480
3.The shareholders and directors may also receive the court summons for not conducting the annual return timely. In serious cases, shareholders and directors may be restricted from entering and leaving Hong Kong
In Summary, it is important for you to do the Annual Return on time, on one hand, to keep your company operates legally, on the other hand, to avoid unnecessary extra
expenses like the penalties, etc.
Contact Us
It is important to choose a professional agent for your Hong Kong company Return. Located in Hong Kong and have been in this service for more than 20 years, ATAHK will be your most reliable agent to have your Hong Kong company well maintained. For Annual Return and more services including tax filling, bank account opening, commercial secretary, cargo & warehousing, etc., please feel free to contact Selina Wu by China hotline at 86-755-82143023 or emailing to selinawu@citilinkia.com.