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【Startup Guide】11 Common Questions about Business Registration in Hong Kong
Should You Open an Online Store? Essential read of its Pros and Cons
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If you find the registration process troublesome, read this article to learn about the benefits and details of business registration in Hong Kong. OneStart provide an exclusive offer for online shop. For only $1618, you can easily complete the business registration and enjoy additional services!
2024/25 Budget: Latest Business Registration Fee Adjusted to HK$2,200
The 2024/25 Budget has been announced, and starting from April 1st, the fee of one-year business registration certificate will be increased to HK$2,200 and waived for HK$150 two years, resulting in an overall increase of HK$50. The table below shows the new business registration fees after April 1st, 2024:
| Business Registration | BR Fee | Levy |
| One-year Certificate | HK$2,200 | HK$0 |
| Three-year Certificate | HK$5,720 | HK$150 |
When is Business Registration Required? What are the Consequences of Not Registering?
In Hong Kong, once you engage in any profit-making activities, even without a company, physical store, or formal office location, whether it's running an online shop, a Facebook IG shop, selling second-hand goods, providing travel agency services, or being a freelancer, according to the regulations of the Inland Revenue Department, business registration (BR) is required. Violators may be fined HK$5,000 and face imprisonment for up to 1 year!
Benefits of Business Registration Certificate
1. Legitimacy and Reputation
Holding a business registration certificate signifies that your business is legitimate and registered. When applying for certifications from authoritative organizations such as the "Quality E-Shop Recognition," a valid business registration certificate is required. This helps enhance your credibility and build trust with your customers.
2. Legal Protection
Through business registration, you and your business will be covered by the protections outlined in the Business Registration Ordinance. Operating a business without business registration may lead to legal consequences.
3. Facilitating Tax Matters
According to tax regulations, any business operating in Hong Kong that earns assessable profits derived in or from Hong Kong (excluding profits from the sale of capital assets) is subject to taxation. If the Inland Revenue Department not only determines that you have not completed business registration but also involves tax evasion or fraud, the penalties will be even higher.
4. Business Advantages
After business registration, your business identity will bring you many unexpected advantages. For example, you can apply for a business bank account to enjoy tailored services for enterprises or apply for various government or private organization subsidies. These can provide effective support for your business operations.
What to Pay Attention to When Registering a Business?
For detailed application methods, please refer to OneStart's previous articles:
- Business Registration Certificate Application: Application Process, Fees, and Exemption
- 11 Common Questions about Business Registration in Hong Kong
The business address on the business registration certificate must be a legitimate commercial address. If needed, you can choose to purchase virtual office services from a licensed "Trust and Company Service Provider" at the Hong Kong Companies Registry to obtain a registrable business address.
Find Business Registration Too Troublesome? OneStart understands the difficulties faced by entrepreneurs in the early stages of business, including the burden of financial costs and lack of time to handle statutory matters. Consider the OneStart Online Store Promotion, which allows you to easily complete business registration for only HK$1,618 and enjoy additional services!
OneStart Online Store Promotion includes:
- Professional business registration service
- Application for business registration fee exemption on your behalf (suitable for small-scale operators)
- Legitimate business registration address (i.e., virtual office service)
- Collection of government and bank correspondence or small packages
- Cash reward for opening a PayPal account
- Free consultation for government subsidy applications
For those who are operating or planning to open an online shop, this offer is truly not to be missed! If you want to know more details about the plan, please call 3575 6888 or WhatsApp OneStart Business Consultants for more information.
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