50,000 Local Hong Kong Companies Newly Registered in 2022
A promising outlook on the Hong Kong companies front, as 50,087 new local companies were registered. This is within the first half of 2022 alone.
This brings the number of local companies registered to a total of 1,386,592. As far as non-local companies were concerned, there were 415 newly registered businesses. Businesses were registered under Hong Kong’s Companies Ordinance. In June alone, the total number of non-local companies registered was 14,481.
Electronic Submissions to Meet the Changing Needs
To meet the changing needs and the growing expectations of Hong Kong companies (and non-local companies), changes had to be made. One of those changes was the acceptance of electronic submission services in the Registry. These submissions have been in effect since 27 June.
So far, the GovHK’s e-Registry portal has received 43 electronic submissions. Electronic search services are now available too. As of now, a total of 2,225,769 searches have been conducted.
It’s been a busy first half of the year for Hong Kong companies from January to June. 9,154 charges on properties were received. 9,654 payment notifications and releases were recorded. 1,326,939 documents have been sent to the registry. All within the first half of this year.
336 licenses for trust or company service providers were also granted. This brings the total of licenses granted to 6,840 as of mid-June 2022.
New Inspection Regime to Commence 24 October
There will be a new inspection regime that will commence on 24 October under the Companies Ordinance. The aim of this is to protect better the sensitive personal information and documents that are recently delivered.
Following this, 26 forms about reporting sensitive personal information have been duly revised. The amendments to the forms will be based on the phase two implementation of the new regime.
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