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Further the new inspection regime for the Company Register. Phase 1 of a new inspection regime of the Companies Register under the Companies Ordinance (Cap. 622) commenced on 23 August 2021. Then Phase 2 will commence on 24th October 2022. What will Phase 2 of the new inspection regime cover? Under Phase 2 of the …
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Under the Mandatory Provident Fund (MPF) Legislation, you can’t withdrawal MPF until you are 65-year-old. However, you can withdraw your MPF earlier under below circumstances: Early Retirement Withdrawal If you are reaching age 60 and no more employment. Then you have to make a statutory declaration that you have no intention of becoming employed or …
Share Transfers Share Transfers happens in any businesses, your Company Secretary or Agent will prepare a Contract Notes. The Contract Notes are required to be executed and stamped within a timeframe. What’s within the Contract Note for a share transfer? According to the Stamp Duty Ordinance (Cap. 17), the contract note should contain the following …
Previously, Centre O have talked about the circumstances for Early Withdrawal of MPF. Let us recap the scenarios: Early Retirement Permanent Departure from Hong Kong Total Incapacity Terminal Illness Small Balance Death Required documents for Early Withdrawal of MPF If you experiences any of the circumstances above and decide to withdraw your MPF. Then you …
According to the Companies Ordinance (Cap. 622), Phase 2 of the New Inspection Regime of Companies Register phase 2 will be starting from 24th October 2022 in order to protect privacy of director within Hong Kong Limited Companies. How to protect your privacy? Phase 1: Started from 23rd August 2021 Directors can use correspondence addresses …
Inland Revenue Department (IRD) has posted an Employer’s Return of Remuneration and Pensions to every company. No matter if the employers have employed employees or not, the employers have the obligation to response to IRD within 14 days by filling out the Employer’s return form. What is the outcome if you have not filed your …
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In case you want to run a business in Hong Kong, you have a few steps to complete. The first one is to apply for a Certificate of Incorporate (CI) number. Once you have the CI number, the next step is to apply for a Hong Kong Business Registration(BR) number. You must register with the …
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The Financial Secretary proposed in his 2022-23 Budget to waive Business Registration fees for 1 year. The schedule is starting from 1st April, 2022. Details of the Business Registration Fees waiver In respect of business registration certificates and branch registration certificates that commence on 1st April 2022 but before 1st April 2023. The fees payable …
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What is MPF? MPF refers to “Mandatory Provident Fund”. Hong Kong started MPF system since December 2000 in response to the rapidly ageing population issue in Hong Kong. How to calculate MPF contributions? The MPF contributions have 2 parts: 5% from employee and 5% from employer. Totally 10% of employee’s relevant income. Moreover, the employers …
According Business Registration Ordinance (Chapter 310, Laws of Hong Kong). Every business owner in Hong Kong should ensure compliance with the requirements of the Business Registration Ordinance. Please find the highlight as following: Section 7(2) requires every business owner to notify the Commissioner of Inland Revenue (Commissioner). If the business owner does not receive the …
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