Record high for local incorporated companies
Hong Kong (HKSAR) - The number of local companies newly registered with the Companies Registry in 2012 hit a record high of 150,165, according to statistics released by the Companies Registry today (January 13).
"On average, over 12,500 local companies were incorporated each month," said the Registrar of Companies, Ms Ada LL Chung.
"By the end of 2012, the total number of live local companies registered under the Companies Ordinance surpassed one million, to stand at 1,044,644, up 88,252 from 956,392 in 2011," Ms Chung added.
"In 2012, a total of 27,319 companies were incorporated online using the one-stop electronic company incorporation and business registration service at the e-Registry (www.eregistry.gov.hk), a marked increase of 79.16 per cent when compared to 2011," she continued.
On the new Companies Ordinance which was passed by the Legislative Council on July 12 last year, Ms Chung said, "To facilitate the implementation of the new ordinance, we are working on the enactment of over 10 pieces of subsidiary legislation by the Legislative Council. Our aim is to bring the new Companies Ordinance into operation in 2014."
Electronic services for the submission of private companies' annual returns were launched at the e-Registry in August 2012.
For non-Hong Kong companies that have newly established a place of business in Hong Kong, 686 companies were registered under Part XI of the Companies Ordinance in 2012, a decrease of 14.04 per cent from 798 in 2011. The total number of registered non-Hong Kong companies stood at 8,848 at the end of last year.
The number of charges on assets of companies received for registration in 2012 was 31,141, a decrease of 17.34 per cent from 37,673 in 2011.
The number of memoranda of satisfaction and releases received for registration decreased by 18.52 per cent, from 27,851 in 2011 to 22,692 in 2012.
In 2012, a total of 127 prospectuses were registered, decreasing from 185 in 2011.
The total number of documents received for filing last year increased by 2.49 per cent, from 2,163,743 to 2,217,716.
A total of 3,496,327 searches of document image records were conducted through the Registry's electronic search services in 2012, an increase of 7.71 per cent from 3,246,085 in 2011.
The total number of summonses issued by the Registrar of Companies last year against companies for breaches of the Companies Ordinance, mainly for failure to file annual returns, was 6,624, an increase of 10.11 per cent from 6,016 in 2011.
For details of the statistics, please visit the "Statistics" section of the Registry's website (www.cr.gov.hk).
Source: HKSAR Government
Published on: 2013-01-13
Limited copyright is granted for you to use and/or republish any story on this site for
any legitimate media purpose as long as you reference 7thSpace and any source mentioned in the story above. Please
make sure to read our disclaimer
prior to contacting 7thSpace Interactive. To contact our editors, visit our online helpdesk
. If you wish submit your own press release, click here