Please be reminded of the following Annual Compliance Requirements imposed by the Hong Kong Companies Ordinance and Company Registry.
The Company Registry ("CR") is the government registry keeping track of your company and its directors and shareholders. Every year the company needs to file the Annual Return.
The Inland Revenue Department ("IRD") is the tax department of the government and will require annual updates regarding tax payable for your employees and corporate tax and the renewal of the company's Business Registration Certificate.
1. PREPARATION OF THE AUDITED FINANCIAL STATEMENTS
Every company has to prepare audited Financial Statements (“FS”) from the date of incorporation up to its anniversary date.
The audited FS can cover up to a maximum of 18 months from date of incorporation. The audited FS will be then laid, adopted and approved during an Annual General Meeting ("AGM") (see below).
BlueMeg offers in-house accounting services to help prepare these FS. We also have a network of auditors who can audit your accounts.
2. ANNUAL GENERAL MEETING (“AGM”)
The company has to convene its AGM within nine months after the anniversary of the Company’s incorporation. The Financial Statements have to be laid out, adopted and approved during the AGM. BlueMeg as your appointed Company Secretary will assist in preparing the AGM documents upon receipt of the Financial Statements from your side. It is essential you start on time with the preparation of your financial statements, as they will need to be audited before the AGM.
3. ANNUAL RETURN
The Annual Return is a document to update the government about the company's shareholders, directors and company secretary.
The company has to file its Annual Return with CR within 42 days after the anniversary of the date of incorporation. CR will send us a notice when your Annual Return is due - we will forward this notice to you.
BlueMeg's standard service includes completing the required NAR1 form (Annual Return) and submit it to CR for you.
4. BUSINESS REGISTRATION CERTIFICATE ("BRC") RENEWAL
The Business Registration Certificate is an annual fee imposed by the government that every company needs to pay and renew. A renewal demand note will be sent to us by IRD within one month before the current BRC expires.
BlueMeg will send the renewal invoice to you for settlement. Upon receipt of the payment, BlueMeg will process the renewal of the BRC with the IRD.
5. PROFIT TAX RETURN
The Profits Tax Return requires the company to disclose their earnings and any tax payable to IRD. Depending on your incorporation date, you receive this notice at a different time. It is your responsibility to complete this form and submit it to the IRD. Unless your company has a Small Company exemption, you will need to attach audited financial statements (mentioned above) with this return.
If your incorporation is between 1 January and 31 March the standard deadline is 15 November of the same year.
If your incorporation is between 1 April and 30 November the standard deadline is 2 May of next year
If your incorporation is between 1 and 31 December the standard deadline is 15 August of next year.
BlueMeg can assist you with the filing via our Tax Filing Service but requires audited financial statements to do so.
6. EMPLOYER'S RETURN
The IRD will send an Employer's Return notice - which we will forward to you. The goal of this return is the update the IRD about your employees and their salaries so that the IRD can calculate the Income Tax due. The company needs to submit this for every employee. It needs to be completed within one month, even if the company has no employees or no operations.
BlueMeg's Payroll Service can assist you with the preparation and filing of this return.