More local companies registered

2019-07-10 18:48:10

The total number of local companies registered was 1,381,924 at the end of June, while 64,051 local companies were newly registered during the first half of the year, the Companies Registry announced today.

Among the newly registered local companies, 23,751 were incorporated online with the e-Registry or the CR eFiling mobile application.

The Companies (Amendment) (No. 2) Ordinance 2018 commenced operation on February 1 to improve the clarity and operation of the Companies Ordinance.

The accounting-related provisions have also been updated to reflect the latest accounting standards and to expand the types of corporate groups which qualify for simplified reporting.

The Non-Hong Kong Companies (Disclosure of Company Name, Place of Incorporation and Members' Limited Liability) Regulation will come into operation on August 1 to align the disclosure obligations of non-Hong Kong companies with those of Hong Kong companies.

For non-Hong Kong companies that have established a place of business in Hong Kong, 907 companies were newly registered in the first half of this year compared to 601 in the second half of 2018.

The total number of registered non-Hong Kong companies reached 11,708 by the end of June.

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