Companies Registry releases statistics for the first half of 2020

July 14 2020

The total number of local companies registered under the Companies Ordinance was 1,381,355 as at the end of June this year, compared to 1,380,185 by the end of 2019. 

A total of 48,760 local companies were newly registered during the first half of 2020, which shows a decrease of 19.66 per cent when compared to the figure in the second half of 2019.

To implement one of the relief measures to support enterprises, the Companies (Fees) (Amendment) Regulation 2020 will take effect on October 1 to waive the registration fees of annual returns delivered on time for two years.

To foster the position of Hong Kong as a premier international asset and wealth management centre, the Limited Partnership Fund Bill introduced by the Government into the Legislative Council was passed on July 9. It is believed that the new regime would help to attract private equity and venture capital funds to set up and operate in Hong Kong so as to facilitate the channelling of capital into corporate.

Regarding non-Hong Kong companies that have established a place of business in Hong Kong, 876 companies were newly registered under the Companies Ordinance in the first half of 2020, compared to 1,093 in the second half of 2019. The total number of registered non-Hong Kong companies reached 13,117 by the end of June 2020.

As for the licensing of trust or company service providers, during the first half of 2020, a total of 235 trust or company service provider licences were granted. The number of licensees reached 7,013 at the end of June. 

Read More: https://www.cr.gov.hk/en/publications/news-press/press/20200712.htm