In the daily management of Hong Kong company, annual inspection is a very important work. Hong Kong company annual inspection has strict time requirements. Today our company answers why it is so important for Hong Kong companies to conduct annual inspection on time.

The annual inspection of Hong Kong companies is divided into two steps:①Submit annual returns and pay registration fees to the Companies Registry;②Pay the business registration fee to the Business Registration Office. The Hong Kong Companies Act stipulates that a Hong Kong company must be registered after the date of filing42File your annual return within days. Timely annual inspection is not only every company and members should fulfill the obligation, the annual registration fee should also be determined according to the delivery of the annual return time, so as to save worry. On the other hand, not filing an annual return on time is not only illegal, but can also result in heavy fines.

Apart from filing the annual return and paying the registration fee, the Hong Kong company should also pay the business registration fee at the Business Registration Office before the specified payment date. The Business Registration Office will issue a Business registration penalty Notice for overdue payment. Furthermore, failure to pay the Business registration fee and badge fee on time as directed by the Commissioner of Inland Revenue is an offence and the offender is liable to a fine of HK $5000He was jailed for one year.

In addition to the above criminal penalties and fines, non-timely annual inspection will also affect the normal operation of the company. For example, obtaining the annual inspection receipt without timely inspection will have a bad impact on the company's reputation and hinder the company's business development; If the annual inspection receipt cannot be submitted to the bank for review on time, the normal use of the company's account will be affected; If the annual inspection receipt is not timely obtained, the trademark business and all assets under the company's name cannot be transferred, or other operations cannot be carried out. Therefore, the above possible risks remind you, be sure to handle the annual inspection on time!

CycloseThe company is committed to providing domestic and foreign customers with corporate audit, tax declaration, registration, annual inspection, tax planning and other services in Hong Kong, Singapore, Dubai and other regions. Efficient, rigorous, intimate service has been favored by many private enterprises, listed companies and large state-owned enterprises.