If you are planning to open a business or set up a company in Hong Kong, there are some important business registration requirements that you need to understand. One of these important procedures is the filing of a Notice of Commencement of Registered Business, also known as an IRBR200. Understanding the IRBR200 and its details will help you to ensure the legality of your business activities and avoid any possible fines or legal problems.
What is an Incorporation Notice of Business Commencement (IRBR200)?
The Incorporation Notice of Business Commencement (IRBR200) is a document required by the Inland Revenue Department of Hong Kong to notify the government that your company has commenced business. The purpose of filing this notice is to ensure that all companies operating in Hong Kong are under the supervision of the Inland Revenue Department.
The IRBR200 contains not only basic information about your company, such as company name, registered address, etc., but also some tax information about your company, such as your company’s fiscal year end date, scope of business, etc. The IRBR200 also contains information about your company’s tax status.
What should I be aware of when completing the Incorporation Notice of Business Commencement (IRBR200)?
This information is required before completing the IRBR200:
●Company registration information: you will need to provide the company’s registered name and registration number, as well as the company’s registered address.
●Details of business: You need to clearly describe the nature of your company’s business and the date the business started.
Reminders for completing the IRBR200
Please take care when completing the Incorporated Business Commencement Notice (IRBR200) to ensure that all the information you provide is accurate. Also, make sure you complete all the fields on the form. If there are any incomplete fields, your application may be returned to you. Here is some advice from the Inland Revenue on how to complete the form:
●If the business name is not the same as the company name, you will need to fill in the specified fields.
●the Chinese name (including symbols and spaces) must not exceed 30 characters and the English name (including symbols and spaces) must not exceed 120 characters.
●Any notification made before the date of the change will not be accepted.
●The business nature (including symbols and spaces) must not exceed 30 characters in Chinese and 60 characters in English. y If the business address is different from the company’s registered address, it must not exceed 30 characters.
●If the business address is different from the address of the registered office of the company, it is required to be completed in the specified field.
●If the signatory is a director of the corporation or a secretarial firm, its business registration number must be provided.
●If the business registration number cannot be provided, then a Certificate of Incorporation issued by the government where the signatory is incorporated is required.
●If neither can be provided, the signatory’s identity card number or passport number is required. This notice must be signed by a director, secretary or manager.
If you are unsure about anything when completing the IRBR200, you can check the guidance provided by the Inland Revenue or seek professional help.
When do I have to file the Incorporation Notice of Business Commencement (IRBR200)?
Once you have formed a company and your business has commenced operation, you are required to file an IRBR200. According to Hong Kong’s tax law, you must file the IRBR200 within one month of commencement of business, and if you fail to file it on time, you may be subject to penalties or other legal consequences.
According to the Business Registration Ordinance (Cap. 310), a corporation that has completed business registration is required to notify the Commissioner of Inland Revenue in writing within one month from the date of commencement of business. Failure to comply with this requirement will be regarded as an offence and may result in a fine of up to $5,000 or imprisonment for one year. The above information is for reference only. If you have any questions or information regarding tax return (individual tax return, corporate tax return, accountant tax return), you are welcome to contact our professional consultants and we will provide you with a free quote and consultation service in due course.