Economic Project

Contents

Introduction

Business Registration

~Meaning

~Registration Procedure for Sole Proprietorship and Partnership

~Registration Procedure for Limited Company

~Registration Procedure for Overseas Company

~Registration Fee and Levy

~Payment Methods

~Cancellation

Sole Proprietorship

~Definition

~Popularity

~Set-up process

~Advantage

~Disadvantage

~Reason of suitable for Small Business

~Examples

Partnership

~Definition

~Features

~Forms/Establish

~Liability

~General partnership

~Limited partnership

~Advantages

~Disadvantages

~Tax rate

~Dissolution and Termination

Limited Company

~Meaning

~Advantages

~Disadvantages

~Private limited companies

~Public limited companies

~Shares

~Procedures of Formation

~Taxes

Comparison

Conclusion

Working Table

Cancellation

  If you cease your business or any branch business you must notify the Business Registration Office in writing within 1 month of the date of cessation. Your business registration number, name, address and date of cessation should be stated clearly in the letter. You should also advise your correspondence address after cessation and contact telephone number. Alternatively, you may furnish the details on the form IRBR93. Please remember that the business registration fee must be paid up to and including the year in which the business has ceased.

  Pursuant to Section 2(1A) of the Business Registration Ordinance (Cap.310), every company incorporated in Hong Kong under the Companies Ordinance (Cap.32), whether or not in operation, shall be deemed to be a person carrying on business and is required to take out a business registration certificate annually until the company is dissolved or deregistered under Section 291AA(9) of the Companies Ordinance.

  In the case of a limited company in liquidation, you should also forward a copy of the special resolution for liquidation. If you are in the process of applying to the Registrar of Companies for deregistration, a copy of the approval letter issued by the Registrar of Companies must be enclosed in support. Upon submission of the documents required, the Commissioner will consider suppressing the issue of further demand notes for business registration fees and levy in respect of the years subsequent to that in which the winding-up commenced or the application for deregistration to the Registrar of Companies was made. In any event, the fee and levy must be paid up to and including the year in which the winding-up commenced or the application for the deregistration was made.1

1 http://www.ird.gov.hk/eng/tax/bre_cbr.htm

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