Press Releases

Number of companies registered approaches one million

The total number of live local companies registered was 997,750 at the end of June this year, up 41,358 from the figure at end-2011, according to the statistics released by the Companies Registry today (July 15).

The total number of local companies newly registered with the Companies Registry during the first half of 2012, which recorded a figure of 72,427, remained on the high side, an increase of 2.97 per cent from 70,338 in the second half of 2011. In the first half of 2012, 12,580 companies were incorporated online using the one-stop electronic company incorporation and business registration service at the e-Registry ( www.eregistry.gov.hk).

"The capital duty previously levied on local companies was abolished on June 1 this year to enhance Hong Kong's attractiveness as a place of incorporation and our competitiveness as an international business centre," said the Registrar of Companies, Ms Ada Chung.

As regards non-Hong Kong companies that have established a place of business in Hong Kong, 319 were newly registered under Part XI of the Companies Ordinance in the first half of 2012, down 19.44 per cent from 396 in the second half of 2011. The total number of non-Hong Kong companies registered stood at 8,694 by the end of June 2012.

On the development of new electronic services, Ms Chung said, "To facilitate the doing of business in Hong Kong, in particular for SMEs, we launched a new company-search mobile service in June and members of the public may now conduct searches on company information anytime and anywhere using their smartphones and mobile devices."

Electronic services for submission of the more commonly filed statutory returns were launched at the e-Registry in the first half of this year. An electronic service for submission of annual returns for private companies is planned to be launched this year.

On the rewrite of the Companies Ordinance, Ms Chung said, "The passage of the Companies Bill by the Legislative Council on July 12 this year was a significant milestone. The next step of our work plan will involve enactment of over ten pieces of subsidiary legislation in 2013. The new Companies Ordinance is expected to commence operation after the enactment of the subsidiary legislation. To facilitate implementation of the new Companies Ordinance, we will also embark on a publicity programme which includes the issue of briefing materials and pamphlets and the holding of briefing sessions. The aim is to assist companies and stakeholders in understanding and in turn comply with the requirements of the new Ordinance."

The number of charges on assets of companies received for registration in the first half of 2012 was 13,207, down 22.07 per cent from 16,947 in the second half of 2011. The number of memoranda of satisfaction and releases received for registration in the first half of 2012 decreased by 22.82 per cent to 9,931, compared to 12,867 in the second half of 2011.

The number of documents received for filing during the first six months of 2012 slightly decreased by 0.58 per cent to 1,074,062, compared to 1,080,290 received in the second half of 2011.

A total of 1,716,431 searches of document image records were conducted through the Registry's electronic search services in the first half of 2012, an increase of 6.97 per cent when compared to 1,604,653 searches in the second half of 2011.

For details of the half-yearly statistics, please visit the "Statistics" section of the Registry's website ( www.cr.gov.hk).