Understanding Business Registration Certificate (“BRC”)
A Business Registration Certificate (BRC) is a legal document issued by the Inland Revenue Department (IRD) in Hong Kong. It proves that a business is registered with the government and has fulfilled its obligations regarding business registration. Obtaining a BRC is a fundamental step for any business operating in Hong Kong.
Purpose and Importance of the BRC
The primary purpose of the BRC is to register a business for tax purposes. It ensures that businesses comply with tax regulations, including paying various taxes such as profits tax, property tax, and business registration fees. The BRC also provides essential information about the business, including its registered name, business address, and proprietorship details.
Who Needs a BRC
Any person or entity conducting business in Hong Kong is required to obtain a BRC. This includes local and foreign businesses, sole proprietors, partnerships, and companies. The BRC is essential, irrespective of the scale or type of business operation, and it must be renewed annually.
Application and Renewal
To obtain a BRC, businesses must apply to the Inland Revenue Department within one month of commencing business operations. Once obtained, the BRC must be renewed every year by the anniversary date of the business registration. Failure to renew the BRC or late renewal may result in penalties.
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To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
A Business Registration Certificate (BRC) is a legal document issued by the Inland Revenue Department (IRD) in Hong Kong. It proves that a business is registered with the government and has fulfilled its obligations regarding business registration. Obtaining a BRC is a fundamental step for any business operating in Hong Kong.