HK Company Annual Audit

With the development of globalization, more and more companies choose to register companies in Hong Kong. As one of the international financial centers, Hong Kong provides companies with a good business environment and legal protection. However, for many companies, it is crucial to understand and comply with the annual review (annual review) regulations of Hong Kong companies. Detailed introduction to the schedule of the annual review of Hong Kong companies, the required costs, and how to efficiently complete the annual review process through NEO.

The importance of annual review of Hong Kong companies

According to the provisions of the Hong Kong Companies Ordinance, all companies registered in Hong Kong need to conduct an annual review every year. The annual review is not only a statutory review of the company's operating conditions, but also an important part of ensuring that the company operates legally and in compliance with regulations. In addition, the annual review also involves updating company information, such as changes in important information such as directors and shareholders, in order to maintain the company's latest records in departmental institutions.

Schedule of annual review of Hong Kong companies

The annual review time of Hong Kong companies is closely related to their registration date. Specifically:

Annual declaration: The company must submit an annual return to the Hong Kong Companies Registry within 42 days after the end of each financial year and pay the corresponding registration fee.

Renewal of business registration certificate: Similarly, the company needs to go to the Business Registration Office of the Inland Revenue Department to go through the renewal procedures at the end of each fiscal year and replace the new business registration certificate. Usually, it can be processed one month before the anniversary of the company's establishment, but it must be completed within one month after the anniversary.

For example, if a company is established on July 1, 2023, it should complete the annual declaration before August 11, 2024, and renew the new business registration certificate between June 1 and July 31, 2024.

The cost of annual review of Hong Kong companies

The total cost of annual review of Hong Kong companies consists of several parts, mainly including the following aspects:

1. Annual declaration registration fee: The fee for submitting the annual return on time is HK$105. If it is submitted overdue, an additional fine of up to HK$3,480 will be incurred.

2. Business registration certificate fee: The current standard fee is HK$2,200. It is worth noting that this part of the fee may change due to policy adjustments. It is recommended to pay attention to the latest official announcement.

3. Secretary service fee: the service fee provided by a professional secretary company, including but not limited to address service, legal secretary service, etc. The specific amount varies depending on the company's needs and service content, generally ranging from thousands to tens of thousands of Hong Kong dollars.

4. Other possible expenses: If the company has changes (such as changes in directors or shareholders), corresponding change fees will also need to be paid.

The process of annual review of Hong Kong companies

With NEO, you can enjoy a simplified and efficient annual review process:

1. Prepare materials: Collect and check the required annual review materials, including but not limited to company registration certificate, copy of business registration certificate, company articles of association, etc.

2. Sign a power of attorney: Sign a service agreement with NEO to clarify the rights and obligations of both parties.

3. Payment: Pay the fees related to the annual review as agreed.

4. Submit documents: NEO's professional team will submit the necessary documents and forms to the relevant departments on your behalf.

5. Receive new certificates: After completing the annual review, receive the updated business registration certificate and other relevant supporting documents.

Why choose NEO?

With years of accumulated experience and expertise, NEO is committed to providing customers with the best services:

Professional team support: Our team is familiar with the requirements of the annual review of Hong Kong companies and can effectively guide customers to complete the annual review process smoothly.

One-stop service experience: From document preparation to the final receipt of the new certificate, we provide a full range of one-stop services to help customers save time and energy.

Transparent and reasonable charges: We promise an open and transparent pricing strategy to ensure that customers understand the details of each fee.

Continuous follow-up service: Even after the annual review is completed, we also provide follow-up support services, such as annual review, account maintenance, etc.

In short, with the help of NEO, you can complete the annual review of Hong Kong companies more smoothly and ensure that your business develops steadily on the basis of legality and compliance. If you have any questions about the annual review of Hong Kong companies or want to know more details, please feel free to contact our professional consultant team.