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HK Sees Record New Company Registrations

Monday, January 17, 2011

A record high of almost 140,000 local companies registered with Hong Kong’s Companies Registry last year, an increase of 27.5% over the registrations seen in 2009.

By the end of last year, the total number of live local companies registered under the Companies Ordinance was 863,762, up more than 91,500 from that in 2009. The total number of non-Hong Kong companies that had established a place of business there stood at 8,165 at the end of the year.

The Registrar of Companies, Ada Chung, said the registry will soon launch the electronic incorporation of companies and a one-stop service for electronic company incorporation and business registration.

“Upon implementation of the new services, an application for company incorporation and business registration can be completed in one step, and the time required will be significantly reduced from four working days to less than one day,” she said.