Business

Key Statistics of Companies Registration (CR) 2020

On January 10, 2021, Hong Kong Companies Registry released key company registration related statistics for the year 2020. One may observe that, despite the economic turbulence amid Covid-19, the statistics of company registration in Hong Kong exhibit some exciting trends.

Here are some key conclusions of interest:

  • 99,405 local companies were newly registered in 2020;
  • 1,757 non-Hong Kong companies were newly registered in 2020, adding up to a total number of 13,752 non-Hong Kong companies registered in Hong Kong by the end of 2020;
  • The Limited Partnership Fund Ordinance took effect from August 31, 2020, which permits investment funds to be registered in the form of limited partnership in Hong Kong thereafter;
  • In accordance with the Companies (Fees) Amendment Regulation 2020, the registration fees for annual returns have been waived from October 1, 2020, to September 30, 2022 (both dates inclusive);
  • The fees payable concerning the incorporation of companies and registration of non-Hong Kong companies through electronic means have been reduced by 10 per cent.

For many, the year 2020 has been an emotional and financial roller coaster; nevertheless, there are still uplifting statistics hinting to economic recovery as well as a more prosperous and promising 2021!

For more detailed information on company registration statistics, check out the full-version release by the Hong Kong CR here (click).