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Annual Filing Requirements in Hong Kong
Updated on Monday 05th December 2022 Rate this article
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Annual compliance for Hong Kong companies
Companies registered in Hong Kong need to comply with the annual filing requirements. This applies both to local companies and to the branches or subsidiaries of a foreign company. The annual returns are submitted to the Inland Revenue Department and the Companies Registry.
Annual books of accounts must be kept at the company’s registered office. Public Hong Kong companies must also meet the requirements to provide audited financial statements. The tax year starts on April 1 and ends on March 31 the following year. Tax returns are issued annually on April 1.
Company directors in Hong Kong must make sure that their company meets these annual demands. Non-compliance results in fines or prosecution. Company owners can choose to employ a specialist to take care of the annual filing requirements.
Professional accounting services are also for Hong Kong companies in order to meet all of the requirements, especially for foreign investors who are not so accustomed with the annual filing in the city.
Our accountants in Hong Kong assist investors who wish to fully understand the annual filing requirements according to business form, as well as those who wish to outsource the preparation and maintenance of the books of account. We advise investors to seek specialized assistance in order to ensure full compliance with the reporting standards in force and avoid unnecessary penalties.
In case you need help when setting up a company in Hong Kong, our team of incorporation agents is at your disposal.
Annual filing for locally registered companies in Hong Kong
Every locally registered company in Hong Kong must meet the requirements and deadlines for the annual delivery of statutory returns. These provisions are stipulated in the Companies Ordinance for each type of legal entity.
The followong are part of the statutory returns that must be delivered to the Companies Registry by a local limited liability company:
- form NAR1 - annual return: for private companies within 42 days after the anniversary of the incorporation date, each year; for public companies within 42 days after the company’s return date;
- form NR1 – notice of change of registered office address: within 15 days of the change;
- form ND2A – notice of change of company secretary: within 15 days after the change;
Annual filing for non-Hong Kong companies
Registered non-Hong Kong companies must also meet the requirements for annual statutory returns. Failure to meet the deliver the annual returns on time results in fines and the prosecution of the company and/or its representative agents in Hong Kong.
Non-Hong Kong companies must deliver the following statutory returns to the Companies Registry and others, accordingly:
- form NN3 – annual return: within 42 days after the annual anniversary of the company’s registration in the city;
- form NN13 – notice of cessation of the place of business in Hong Kong: within 7 days after the cessation.
For more information and personalised assistance for annual filing and tax compliance, you can contact our company registration agents in Hong Kong. Our agents can also assist you when setting up a company in Hong Kong.
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Call us now at +852 35651861 to set up an appointment with our company formation experts in Hong Kong. As our client, you will benefit from the joint expertise of local lawyers and consultants for opening an offshore company in Hong Kong.
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