Filing of Annual Return Form
Filing your annual return is essential to keep your company compliant in Hong Kong. Startupr makes it easy and hassle-free.
After incorporating your Hong Kong business, you must Filing of Annual Return Form each year. This crucial document provides the government with updated company information. Such as directors, shareholders, and registered address.
To file the annual return, the Form NAR1 is filled with the required information and delivered to the Companies Registry of Hong Kong SAR. This is done annually, usually within 42 days of the incorporation of the business. Startupr makes sure that it is filled on time for our clients.
Basic Ongoing Compliance Requirements for Filing of Annual Return Form
Before you file Hong Kong company’s Annual Return form, here are some essential requirements that must be fulfilled. We’re here to guide you through the process:
- Maintain a Registered Address: This must be a physical address in Hong Kong, not a P.O. Box.
- Appoint a Company Secretary: This can be an individual resident or corporate company with TCSP License of Hong Kong.
- Appoint an Auditor (if applicable): Required unless the company is classified as dormant.
- Maintain Shareholders: At least one shareholder is required. It can be an individual or corporate entity, local or foreign, aged 18 or older.
- Maintain Directors: At least one director is required, who can be an individual, local or foreign, aged 18 or older.
Notify the Companies Registry of Changes
The company will also have to inform the Companies Registry. If there are any alterations in the registered particulars of the company. This includes the modifications in share capital, company secretary, directors, details of the shareholders, registered address, etc. The Company has to notify the government about the following:
- Registered Address Change: Notify within 15 days.
- Director/Secretary Changes: Notify within 15 days of appointment or resignation.
- Director/Secretary Details Changes: Notify within 15 days of any changes.
- Company Name Change: Notify within 15 days of the change being approved.
- Special Resolutions: Notify within 15 days of passing.
- Relocation of Statutory Books: Notify within 15 days of relocation.
- Share Issuance/Allotment: Notify within 1 month.
Other Important Requirements
- Business Registration Renewal: Renew annually one month before expiration.
- Annual General Meeting (AGM): Hold an AGM at least once every 18 months after incorporation, and then annually thereafter.
- Financial Records: Maintain detailed accounting records for at least seven years.
- Obtain Necessary Licenses: Ensure you have all required business licenses.
Company’s Business Records Requirements
Additionally, the business records of the company must include:
- Income and Expenditure Records: Maintain accurate records of all income and expenses.
- Supporting Documentation: Keep supporting documents for all entries (bank statements, invoices, etc.).
- Record of Assets and Liabilities: Maintain a record of all company assets and liabilities.
Annual Filing Requirements and Deadlines
All registered companies in Hong Kong have to file their annual returns. They must also follow the conditions set by the Companies Registry and the Inland Revenue Department (IRD). Startupr can assist you in the annual return filings and comply with the company’s government filings. The deadline for filing these documents is 42 days. If you miss that deadline you have to pay penalty fees. Free table for late filing of the Annual Return here.
The requirements for the annual return filing of the private limited Hong Kong Company
- Annual Return Filing: File the Annual Return with the Companies Registry within 42 days of your company’s incorporation anniversary.
- Profits Tax Return (PTR): File the PTR with the Inland Revenue Department (IRD) as required.
- Keep Records: Maintain all necessary records for the Annual Return and the PTR.
Filing Methods
- Use Startupr’s Services: Hire Startupr to handle all your filing requirements.
- File Online: File the Annual Return online through the Hong Kong Companies Registry’s online system.
- File by Mail: Submit a completed hard copy of the Annual Return to the Companies Registry.
Director’s Responsibilities
Directors are ultimately responsible for ensuring all compliance obligations are met. Failure to comply can result in fines and even prosecution.
The Annual Return vs. The Profits Tax Return (PTR)
The annual return is often confused for the Profits Tax Return (PTR) of a company. The annual return shows the company particulars, such as the company secretary, company directors, and shareholders of the company.
When filing your Annual Return, you may need to include the following documents
- Tax Computation: A document showing how your company’s profits or losses were calculated.
- Financial Statements: Your company’s balance sheet, auditor’s report, and profit and loss account.
The PTR is for filing the taxes of the company to the government. It is mandatory for any company that has been formed in Hong Kong to file the Profits Tax Return. Along with the annual audited accounts with the IRD of Hong Kong, also called the Inland Revenue Department.
All Hong Kong companies are required to file a PTR. Along with their audited financial statements with the Inland Revenue Department (IRD)
- The IRD typically sends a notification for the PTR filing each year. For newly incorporated companies, this notice usually arrives around 18 months after incorporation. You must then file the return within one month of receiving the notice.
- Failure to file your PTR on time can result in significant penalties and even legal action.
Private Limited Company Annual Return Filing Methods
Any client that registers their company with Startupr customarily pre-pays for the Filing of Annual Return Form. In case you have not opted for registering your business through Startupr, but need the services of the annual filing, you can easily hire us for it. Startupr would be happy to complete and file the return on time.
There are three methods you can choose from for filing the annual return
- Hire Startupr to complete and Filing of Annual Return Form for your company in Hong Kong. We will help you with efficient filing and expert guidance. For example you have to update the record in CR before proceeding the filings, and we are here to help with all necessary filing. Entrust your annual return filings to us and gain peace of mind knowing that your company is in compliance with all legal requirements.
- File the annual return on your own via the online system of the Hong Kong Companies Registry.
- Fill the hard copy forms of the annual return manually and then send it to the Hong Kong Companies Registry. Their address is – 14 Floor, High Block, Queensway Government Offices, 66 Queensway, Hong Kong.
Startupr is here for you as a stable partner with expert guidance
It is highly advised to take the assistance of a professional firm. Startuprs can lead and advise organizations when fined or even face prosecution for late or overdue filings. Startupr can help you navigate these complexities. We offer:
- Expert Guidance: We provide expert advice on all company formation and compliance aspects.
- Efficient Filing: We handle all your filing requirements efficiently and accurately.
- Protect your business: We ensure your company complies with all applicable laws and regulations.
FAQ
You may have more questions, so look at our clients’ most frequently asked questions.
How do I submit an annual return in Hong Kong?
Companies and document presenters can consistently deliver documents, including annual returns in paper form and online submission.
How can I file an annual return in Hong Kong?
As earlier mentioned in this article, there are three options. You can hire Startupr, and we will do it for you. The second option is to file the annual return on your own via the Hong Kong Companies Registry’s online system. Thirdly, you can fill out the hard copy forms of the annual return manually and then send them to the Hong Kong Companies Registry.
When to file an annual return?
The annual return should be delivered to the Registrar of Companies for registration within 42 days after the company’s return date. Different types of companies have different return dates.
How long do you have to file an annual return?
All companies established in Hong Kong must file annual returns within 42 days of their anniversary date.
Is it mandatory to file an annual return?
Yes, every registered company must file an Annual Return.
If you have more questions, check our frequently asked questions or contact us.