The business registration certificate fee will be adjusted starting from April 1st 2023
2023-3-10
The title of the 23/24 Budget, announced at the end of February, is "Steady and leap forward, and jointly develop a new vision for prosperity." The phrase "benefiting the people's " has been said for several years, but it was not mentioned again this year. That is to say, there will be no "relief measures to benefit the people" this year, and all government fees and waivers will be "normalized", that is, returned to the original level of fees. Compared with the level of the past few years, it is a substantial increase in fees.
For example: The tax relief for profits tax and salaries tax has been reduced from HKD 20,000 in 2019/20 to HKD 10,000 in 20/21, and even further reduced to only HKD 6,000 in 23/24.
In addition, without any special announcement, the business registration fee will quietly start on April 1 this year and "return to normal" to HKD 2,150 per year, which is an increase of HKD 2,000 from the current fee of HKD 150 , an increase of 13 times. The new charges apply to business registration fees payable after April 1, including newly established companies and existing renewal companies.
Therefore, if you are planning to set up a new company, you need to complete the registration before April 1 to avoid the additional cost of $2,000. Now there are only about three weeks before April 1st. To establish a new company, we must make decisions and act as soon as possible. If you seize the last chance to set up a company in March, you can save $2,000 in fees.
If you need to set up a company, or have any questions about setting up a company, please contact our company.
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