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The business scope of a Hong Kong company simply refers to the production, operation and service items that an enterprise can engage in. It is a required item when applying for Hong Kong company registration. Compared with the mainland companies, one of the advantages of Hong Kong companies is the freedom of business scope. What are the provisions of the registered business scope of Hong Kong companies and what should be paid attention to when Hong Kong companies change their business scope?
How to fill in business scope in Hong Kong company registration
Provisions on the business scope of Hong Kong companies
In 2018, the Hong Kong government made major changes to the Companies Ordinance, including the important controller of SCR of Hong Kong companies. Since then, the Hong Kong Tax Bureau has also made new regulations on the business scope of Hong Kong companies: now it is compulsory for Hong Kong companies that already have operations to add "business nature" (i.e. business scope) to the business registration certificate. That is, if "Corp" is shown on the business registration certificate, "nature of business" (i.e. scope of business) shall be added additionally. If there are still no companies added during the inspection, Hong Kong companies will be punished.
How to fill in the business scope of a registered Hong Kong company in 2019
Mainland companies have strict requirements for business scope and restrictions on some industries, especially sensitive industries such as resources and education. In general, there are no too many restrictions on the business scope of Hong Kong companies. As long as the registered companies are legal, they can operate any kind of business. It should be noted that some special industries need license plates to operate, such as banking, trust, construction and other special industries restricted by Hong Kong laws, which need to apply for license plates before operation.
① For companies that have already started to operate, please refer to the business scope filled in by the bank at that time;
② For the company without bank account, please fill in according to the actual situation of the company, which can be a simple description of trade / investment / import and export, together with punctuation no more than 30 words.
Notes on change of business scope of Hong Kong company
After the business scope of the Hong Kong company is written into the business registration certificate, the business scope of the Hong Kong company can still be changed. The contents of the change of the business scope of the Hong Kong company include: change of the nature of business, change of the memorandum and articles of association of the company, and update of the company's event log. Generally, it can be completed in 3 working days, and it will be more convenient and quick for the secretary service agent of the company to handle. When handling the change of business scope of Hong Kong company, attention shall be paid to:
① The business scope shall be controlled within 28 characters in Chinese and 60 characters in English.
② Hong Kong companies may operate across industries. When filling in the nature of their business, they may directly write the name of the products they operate, trade or production, or they may not.
③ The nature of Hong Kong's business is not related to the company's name, bank account opening, annual audit fee and registered capital.
Penalty for Hong Kong companies not adding business scope
According to the relevant laws and regulations of Hong Kong, if the business scope is not added in time, the Hong Kong Government may be fined a maximum of 5000 yuan, and those with serious circumstances may be sentenced to one year's imprisonment.
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