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Step-by-step regulatory requirements organized by timeline phase
File NNC1 (Incorporation Form), articles of association, and consent to act forms with the Companies Registry. Register a Hong Kong-resident company secretary and registered office address. e-Registry processing usually completes within 1 business day.
Open Corporate Bank Account
Open an HKD/USD multi-currency account with HSBC, Bank of China, Standard Chartered, or a virtual bank (ZA Bank, Mox). Non-resident UBOs face enhanced KYC; allow 4-8 weeks for traditional banks, 1-2 weeks for virtual banks.
Set Up Statutory Insurance
Take out Employees' Compensation Insurance with an authorised insurer covering all employees from day one of employment. No employer can hire without active EC insurance.
Apply for Sector Licences
Restaurants, money services, securities (SFC), insurance (IA), and education require sector-specific licences before commencing operations. Money Service Operators must register with the Customs and Excise Department.
Apply for the Business Registration (BR) certificate from the Inland Revenue Department within 1 month of starting business. The BR is issued automatically alongside incorporation under the one-stop service.
Enrol all employees aged 18-64 with an MPF approved trustee within 60 days of employment start. Contribute 5% employer + 5% employee on relevant income up to HKD 30,000 per month.
Designate Significant Controllers Register (SCR)
Maintain an up-to-date Significant Controllers Register at the registered office and appoint a designated representative in Hong Kong. Required since March 2018 under the Companies (Amendment) Ordinance.
Profits Tax Registration with IRD
Notify IRD of chargeability to Profits Tax within 4 months of the first accounting period end if no return has been issued. Standard rate 16.5% on assessable profits; two-tier rate of 8.25% on first HKD 2 million.
File Annual Return (NAR1)
File Form NAR1 with the Companies Registry within 42 days of the company's incorporation anniversary every year. Include updated officer, share capital, and SCR information.
Renew Business Registration Annually
Pay annual BR levy to IRD by the renewal date. Standard 1-year BR currently HKD 2,150 (waived to HKD 150 in some years through stamp duty rebate measures).
Audited Financial Statements
All Hong Kong limited companies must prepare audited financial statements signed by a CPA (Practising). Audit is mandatory regardless of company size; only dormant companies are exempt.
File Profits Tax Return (BIR51)
Submit annual Profits Tax return to IRD with audited accounts and tax computation. Standard filing window 1 month after issue of return; small companies may apply for block extension via tax representative.
Monthly MPF Contributions
Pay employer and employee MPF contributions to the trustee by the 10th day of each month for the previous month's relevant income.
File Employer's Return (IR56B/IR56F/IR56G)
Submit annual Employer's Return BIR56A to IRD with IR56B forms for each employee within 1 month of issue. File IR56F when an employee leaves and IR56G one month before a non-resident employee leaves Hong Kong.