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Why annual review on time

What are the consequences of non annual review of Hong Kong companies?

Account freeze
Banks will be frozen, unable to make payments Unable to withdraw the balance, unable to open an account in the future
Government fines
Government fines or prosecutions, as well as court subpoenas. The maximum fine for overdue is hkd50000, and the daily fine is hdd700. Learn the detailed fine
Credit damage
It may cause shareholders' directors to be recorded with bad credit, affect entry and exit and flight transfer, etc

Ms. Li of Shanghai registered a Hong Kong company in 2013. Her colleagues hold their own clothing brand trademarks. Due to the busy business, they forgot to handle the annual review, resulting in a three-month overdue period, which not only resulted in a government fine of 1170 yuan, but also left a bad record, and the use of the brand was affected to some extent.
Annual review on time to avoid the impact on bank accounts

Mr. Zhou's Hong Kong company, which has an account with HSBC Bank, has been operating well, which has played a driving role in his business. However, he received a new order. He found that this year's account had been closed by the bank due to the delay in handling the annual review, which not only requires re application for account opening, but also makes him deeply anxious that the new order cannot be processed.
Annual review on time to avoid the impact on bank accounts

Annual audit matters of Hong Kong company

Contents of annual review: renewal of the latest annual business registration certificate and submission of the annual declaration form

Annual review cycle
Once a year
Information required
Hongfu'an established company does not need to provide additional information
Cost
Hongfu security annual secretary service fee + government fee actual cost (one-time payment)
Handling time
The processing time is 3-5 working days after the expiration of the annual review of the previous year
Data after annual review
Annual registration certificate BR, declaration form Nar1, certification documents, computer tickets, receipts and other express to you.

Warm tip: if the annual audit is not conducted within 42 days after the expiry date, the government will impose a fine according to the overdue time.

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