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Do Hong Kong companies without operations need annual inspection?

Released Date: Jan 06,2022 Article Source: HUANZE

According to the Hong Kong Companies Ordinance, even if there is no Hong Kong company operating, the annual inspection of Hong Kong company must be done every year.

According to the Companies Ordinance of Hong Kong, it must be done every year even if there is no Hong Kong company operatingAnnual inspection of Hong Kong company.

ifAnnual inspection of Hong Kong companyIf it is not completed on time, the Hong Kong government will issue the notice of fine for overdue annual inspection of Hong Kong company, and the annual return is not submitted on time42More than working days, fineHKD870Get up. Companies Ordinance No662Provides that if a local private company fails to comply with the provision, the company and each person responsible may be prosecuted and, on conviction, liable to a default fine. Each breach carries a maximum fine of HK $50,000Yuan. If you continue to fail, you may be liable to a daily failure fine of HK $1,000Yuan. Business registration certificate does not pay the fee on time, late fineHKD300, punishable by a maximum fine under the Business Registration OrdinanceKHD5,000And imprisonment for one year.

The Hong Kong government issued a fine payment notice, but the company still didn't complete itAnnual inspection of Hong Kong companyAnd if the company fails to pay the fine, the Hong Kong government will request the Hong Kong court to issue a summons, requiring the directors of the Hong Kong company to go to the court of Hong Kong to pay the fine owed to the Hong Kong government and bear the relevant legal liabilities. At the same time, if the important controller is on file, the government can directly list the director as delinquent to the government and a trust-breaking person. Restrictions on entry and exit, blacklisting of commercial activities and even punishment, and the company registry1-2About years will also be removed from the company registration forced expulsion.

Do Hong Kong companies without operations need annual inspection?

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