Hong Kong Budget
Hong Kong’s Financial Secretary, Paul Chan, outlined his budget for 2022-23 in the Budget Address on 23 February 2022.
Included in the measures to support enterprises through the difficult pandemic period was the continuation of the business registration fee waiver.
Waiving business registration fees for 2022-23
It is proposed again that the business registration (BR) fees for the period 1 April 2022 to 31 March 2023 will be waived, and only the BR Levy will be charged.
As such, the total BR fee for a 1-year certificate will be HKD250 (USD32) for this period, instead of HKD2250 (USD287). The IRD will announce the refund arrangement after the relevant legislative amendment is passed by the Legislative Council.
Marbury clients who have already been billed for their BR fee the coming financial year will receive a reduced invoice to account for the fee waiver in their next billing cycle. Whereas our clients who are incorporating in the coming financial year will be charged according to the proposed fee waiver.
Marbury clients are reminded that the two-year company annual return registration fee waiver, announced in the 2020-21 budget, ends this year. From 1 October 2022, the annual return registration fee of HKD105 (USD14) will be charged.
Marbury’s company secretarial and business enterprise solutions teams can help clients keep their companies compliant with statutory filings and audits, even whilst their owners may not be able to return to Hong Kong. Marbury can also help with the full gamut of visa application and extension queries. For more information, please contact your usual Marbury advisor or firstname.lastname@example.org.