In recent years, starting online business and become a Key Opinion Leader (KOL) have become popular, but people may have ignored some legal requirements and lacked awareness of risk management. If something goes wrong, they will fall into financial crisis or even be imprisoned. The first most common problem (mistake) is not applying for a business registration certificate.
Do you need to apply for a business registration certificate if you do small business online?
Yes. According to the Hong Kong Business Registration Ordinance, any form of activities conducted for profit in Hong Kong must apply for a business registration certificate. What is a profitable activity? Simply put as an activity that earn profits, including physical operations or online operations. In the past, the Hong Kong Inland Revenue Department has sent letters to some small online businesses, requiring them to pay fees and fines for not applying for business registration certificates in the previous years. Maybe it was during the epidemic at that time, people may not have aware of that.
In fact, there are some exemption clauses in the Business Registration Ordinance. Those with a small business scale can apply for exemption from paying business registration fees. Please note that the business registration fee can be waived, but you still need to apply for a business registration certificate.
To apply for an exemption, the following requirements must be met:
For business that providing business services, the average monthly turnover shall not exceed hkd10,000, and for other industries, the monthly average turnover shall not exceed hkd30,000. However, if the proprietor has other businesses, he is not eligible to apply for exemption.
There are other things need to be aware of when running a business online. We will share it with you in the future. Please "Like" and "Follow" our Facebook page so that you can receive useful information as soon as possible in the future.
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