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Rating of the Hong Kong Company Register

Rating of Company Register

The Hong Kong Company Register (also known as the “Company Registry”) is responsible to manage and implement rules as per the Companies Ordinance. If you want to register a company in Hong Kong, you must submit an application for their approval.  If you want to allot shares to new members or to change the company structure, you also have to notify the Hong Kong Company Register. If you want to close your company, it is also mandatory to seek approval from them.

In general, the Hong Kong Company Register handles all matters of a private limited company. If you operate a business in Hong Kong, you will need to deal with them occasionally. Below are some tips and comments from our incorporation team.

Efficiency

Almost all our customers agree that the Hong Kong Company Registry is fast and efficient. For customers who submitted application via Get Started HK (Government authorized agent), the incorporation process can be completed as fast as 1 business day. With the help of Get Started HK, the verification process can be completed online. No physical presence is required. Up till March 2020, there were already a total of 1.3 million companies registered at the Hong Kong Company Register.

Easy to reach & Helpfulness

Many people don’t want to spend time communicating with the Company registry. They prefer Get Started HK to communicate with the department on their behalf. In fact, it is very easy to reach the Registrar by telephone. There is a telephone list on its website and waiting time is usually less than a minute. From my experience, not every government department are responsive to inquiries. Some departments can hardly be reached by telephone, and even if you can reach them, you have to spend a long waiting time.

Flexibility

While many customers had positive feedback with the department’s efficiency and helpfulness, some entrepreneurs complaint that the Hong Kong Company Register was not flexible. Some companies were late for filing their annual return forms due to Covid-19. They explained that there was a lockdown and they couldn’t arrange mailing easily.  However, the Company registry did not accept these reasons and they imposed a fixed penalty on all late filings.

In addition, some entrepreneurs could not afford the penalty because they had no business due to Covid-19. Unfortunately, the Hong Kong Companies Register would not consider these factors. The department is there to safeguard and implement the law. If you do not pay the penalty, then they will bring you to the Magistrates.

Conclusion

Hence, many people said that if you follow the regulations, the Company Registry will be your perfect assistant. However, if you breach the law, then the Company Registry will be your nightmare and you have to pay for heavy penalty. That is why most people choose Get Started HK, the government authorized licensee, to manage all maintenance issues.

Company Registration


Disclaimer: This article is intended for reference only. The above information is provided to you on an “AS IS” basis without any express or implied warranty of any kind and is provided for a general, indicative purpose only. In particular, Get Started HK Limited does not make any express or implied warranty as to the accuracy, reliability, security, timeliness in relation to such contents. Individual experience may vary. If you are interested open a company in Hong Kong, you should consult GSHK at info@getstarted.hk