Each of the Hong Kong companies has to file the Annual Return regularly every year.
As per the rules in the Companies Ordinance, each of the Hong Kong companies has to file the Annual Return regularly every year around its anniversary date. The form that is used is called the AR1 form.
Often confused, this form has nothing to do with the taxes for the company. The contents of this form include the particulars of the issued share capital, registered office, secretary(s), director(s), shareholder(s), etc.
The annual return has to be filed within 42 days of the anniversary date of the incorporation of the company every year, and it is a compulsory obligation. In case a person forgets to file the annual return, they would be liable to pay the late fines depending on how late the filing has been done. The failure to comply with the rules of the Companies Ordinances may ultimately lead the company and its head to the court.
If there is an application given by the company for the discontinuance of business in Hong Kong, the company would be exempted from the filing process and other HK renewals.
Startupr provides company renewal services, which includes the company filings of the Annual Return and Business Registration Certificate. In case your company has missed some filings, Startupr can help to get your company back on track and in good standing. Feel free to contact us to renew your company.