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Hong Kong Company Registrations Hit New Record

Tuesday, January 10, 2012

The number of local companies newly registered with the Hong Kong Companies Registry in 2011 hit a record high of 148,329, an increase of 6.31% from 2010, according to figures released on January 8.

According to the new Companies Registry data, the total number of live local companies registered stood at 956,392 at the end of 2011, up 92,630 from the end of 2010.

The number of companies incorporated in July reached a record of 24,957. Registrar of Companies Ada Chung said the figure doubled the average monthly incorporations of around 11,000 for 2010 and may be attributable to the local economic environment and expiration of the waiver of business registration fees for new companies in August.

The registration fee for a one-year certificate is normally HKD2,450 (USD315), made up of a HKD2,000 fee and a HKD450 levy, but a special concession was introduced in 2008 waiving the fee for business registration certificates with a commencement date in 2008-09. This waiver was reintroduced from August 1, 2009 for a further two-year period.

There were 798 non-Hong Kong companies that established a place of business in Hong Kong and were newly registered under Part XI of the Companies Ordinance, up 8.28% from the corresponding period in 2010. The total number of non-Hong Kong companies registered stood at 8,554 at the end of last year.

Chung said with the introduction of the one-stop electronic company incorporation and business registration service at the new e-Registry platform in March, 15,248 companies had been incorporated online at the end of last year.

In 2011, the number of charges on assets of companies received for registration was 37,673, down 8.86% from 2010. The number of memoranda of satisfaction and releases received for registration fell 6.02% to 27,851.

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The Report

Offshore Trusts Guide: Introduction

The History of Offshore Trusts
Development of Professional Competence in the Jurisdictions
What Future for the Trust?
The New Age of Transparency
The Swiss Association of Trust Companies
The Society of Trusts and Estates Practitioners

Offshore Trusts Guide: Jurisdictions

Bahamas

Bahamas: Legal Framework and Formation Rules and Fees
Bahamas: 2006 Private Trust Companies Legislation

Barbados

Barbados: Legal Framework and Formation Rules and Fees
Barbados: Supervisory and Licensing Regime and Fees

Bermuda

Bermuda: Legal Framework and Formation Rules and Fees
Bermuda: Supervisory and Licensing Regime and Fees

British Virgin Islands

British Virgin Islands: Legal Framework and Formation Rules and Fees
British Virgin Islands: Special Trusts Act 2003
British Virgin Islands: The Trustee Act 2003
British Virgin Islands: :Supervisory and Licensing Regime and Fees
British Virgin Islands: New Laws on Private Trust Companies
British Virgin Islands: New Private Trust Company Regulations

Cayman Islands

Cayman Islands: Legal Framework and Formation Rules and Fees
Cayman Islands: Supervisory and Licensing Regime and Fees

Cook Islands

Cook Islands: Legal Framework and Formation Rules and Fees
Cook Islands: Supervisory and Licensing Regime and Fees

Cyprus

Cyprus: Legal Framework and Formation Rules and Fees
Cyprus: Supervision, Licensing and Tax

Gibraltar

Gibraltar: Legal Framework and Formation Rules and Fees
Gibraltar: Legislation, Regulation and Supervision

Guernsey

Guernsey: Legal Framework and Formation Rules and Fees
Guernsey: Trusts Law 2007

Isle of Man

Isle of Man: Legal Framework and Formation Rules and Fees
Isle of Man: Supervisory and Licensing Regime
Isle of Man: Uses Clients and Tax Treatment

Jersey

Jersey: Legal Framework and Formation Rules and Fees
Jersey: Supervisory and Licensing Regime
Jersey: Trusts Amendment Act 2006
Jersey: Foundations

Liechtenstein

Liechtenstein: Legal Framework and Formation Rules and Fees
Liechtenstein: Regulation Supervision and Transparency
Liechtenstein: Characteristics of Liechtenstein Trusts
Liechtenstein: Foundations

Madeira

Madeira: Legal Framework and Formation Rules and Fees

Malta

Malta: Legal Framework and Formation Rules and Fees
Malta: The Trust and Trustees Act 2004

Mauritius

Mauritius: Legal Framework and Formation Rules and Fees
Mauritius: Characteristics of the 2001 Trusts Act
Mauritius: Additional Provisions of the 2001 Trusts Act
Mauritius: Tax Treatment

Monaco

Monaco: Legal Framework and Formation Rules and Fees

Nevis

Nevis: Legal Framework and Formation Rules and Fees

Panama

Panama: Legal Framework and Formation Rules and Fees
Panama: Requirements for Acting as Trust Company in Panama

Seychelles

Seychelles: Legal Framework and Formation Rules and Fees

Turks & Caicos

Turks & Caicos: Legal Framework and Formation Rules and Fees
Turks & Caicos: The Voidable Dispositions Ordinance

Vanuatu

Vanuatu Legal Framework and Formation Rules and Fees




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