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Waiver of Business Registration Fees for One Year

(from 1 April 2016 to 31 March 2017)

The Financial Secretary proposed to waive business registration fees for one year, starting from 1 April 2016.  The Government will introduce the relevant legislative amendment into the Legislative Council as soon as possible to effect the proposal.

Implementation Details of the Waiver of Business Registration Fees

1. In respect of local companies registered under the one-stop company incorporation and business registration regime (“One-stop Registration”), the fees payable under section 5A(1)(a) of the Business Registration Ordinance (Cap. 310) will be reduced by a sum of $2,000 if the related incorporation submissions are made within the period from 1 April 2016 to 31 March 2017 (“Waiver Period”).  For other cases, the fees payable in respect of business registration certificates and branch registration certificates with commencement date falling within the Waiver Period will be reduced by a sum of $2,000 and $73 respectively.
   
2. Businesses are still required to pay the levy for the Protection of Wages on Insolvency Fund.
   
3. Please refer to the business registration fee & levy table for details of the total amount payable in respect of a certificate.
 
Concessionary Refund of Registration Fees Paid
 
4. The proposal only relates to the waiver of one year registration fees for the incorporation submissions made under the One-stop Registration within the Waiver Period or, in other cases, new certificates or renewal certificates with commencement date falling within the Waiver Period.  It does not provide for the refund of fees paid in respect of the Waiver Period.
   
5. In order that businesses that have paid the registration fees for the Waiver Period but are not required to renew their certificates in the Waiver Period can also benefit from the waiver, concessionary refunds of the relevant amount of business registration fees paid will be made, upon applications.  They include:
   
  (a) Businesses or branches, which hold a 3-year registration certificate with a commencement date before 1 April 2016 and an expiry date on or after 31 March 2017;
     
  (b) Ceased businesses or branches, which last hold a 1-year registration certificate with an expiry date on or after 1 April 2016 but before 31 March 2017;
     
  (c) Ceased businesses or branches, which last hold a 3-year registration certificate with an expiry date between 1 April 2016 and 31 March 2017; and
     
  (d) Local companies registered under the One-stop Registration, which make incorporation submissions between 1 April 2015 and 31 March 2016 and hold a 1-year or 3-year registration certificate with a commencement date between 1 April 2016 and 31 March 2017.
   
6. The IRD will announce the application and refund procedures after the relevant legislative amendment is passed by the Legislative Council.
 
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