Essential Compliance Checklist for New Companies in Hong Kong
Updated: 6 days ago
Quick answer: After incorporation, a new Hong Kong company must keep a company secretary and a registered office in Hong Kong, maintain its statutory registers, including the significant controllers register, file the NAR1 annual return within 42 days after each incorporation anniversary, renew its business registration every year, have its accounts audited and file a profits tax return. If it hires staff, it must also enrol them in the MPF and file employer's returns.
Last updated: November 2026
Starting a company in Hong Kong is a streamlined and efficient process, which attracts entrepreneurs from around the world. But incorporation is only the beginning. To operate smoothly and stay in good standing, every Hong Kong company must meet a set of post-incorporation regulatory and tax requirements.
Failing to comply can lead to penalties, fines, business disruption and, in serious cases, prosecution. To help founders stay ahead, this article gives a complete Hong Kong compliance checklist for newly registered companies.
1. Company Registration Documents
After company registration, make sure you have received, and securely store, the following:
Certificate of Incorporation, issued by the Companies Registry
Business Registration Certificate, issued by the Inland Revenue Department (see our BRC guide)
Articles of Association
Incorporation Form (NNC1 or NNC1G) with the company and director details
Company seal, if used, and company stamp
You will need these documents to open a bank account, sign contracts and complete future compliance filings.
2. Registered Office and Company Secretary
Every Hong Kong company must:
Maintain a registered office address in Hong Kong, not a P.O. box
Appoint a company secretary who is a Hong Kong resident, or a Hong Kong company that holds a trust or company service provider licence
The company secretary maintains the statutory records, prepares the filings and helps the company stay compliant with its corporate governance duties. Woodburn provides both the registered office and the company secretary.
3. Open a Business Bank Account
A business account is needed to manage company finances, accept payments and pay expenses. Companies can choose between traditional banks and digital banking platforms, depending on their structure and industry. Our guide to opening a business bank account explains the options.
For the application, prepare your incorporation documents, proof of business such as a website or contracts, and the ID documents of the directors and shareholders.
4. First Board Resolution
After incorporation, the board should hold a first meeting, or pass a written resolution, to:
Confirm the appointment of the directors and the company secretary
Approve the company's registered office address
Authorise the opening of a bank account
Allot the initial shares and approve the register of members
Documenting these decisions supports transparency and statutory compliance.
5. Maintain Statutory Records
Under the Companies Ordinance, companies must keep the following at their registered office or another place in Hong Kong notified to the Companies Registry:
Registers of directors, company secretaries and members
Significant controllers register
Minutes of board and shareholder meetings, and written resolutions
Share certificates and records of share transfers
These records must be available for inspection when the authorities ask for them. Our guide to business record keeping covers the full requirements.
6. File Annual Returns
Companies must file an annual return (Form NAR1) with the Companies Registry within 42 days after each anniversary of incorporation. It confirms the company's registered details, its directors and shareholders and its registered office address.
The fee is HK$105 when filed on time. Late filing fees rise from HK$870 to HK$3,480 depending on the delay, as set out by the Companies Registry. Read more in our NAR1 guide.
7. Comply with Tax Filing Obligations
Every Hong Kong company must meet its tax filing obligations with the Inland Revenue Department (IRD), including:
Profits tax return: filed every year together with the audited financial statements. Newly incorporated companies usually receive their first return about 18 months after incorporation.
Employer's return (BIR56A and IR56B): issued each April to report salaries paid to employees and directors, and due within one month.
Provisional tax: companies may have to pay provisional tax for the next year, based on the previous year's assessable profits.
Woodburn prepares and files these returns through our tax and audit service.
8. Conduct an Annual Audit
Every company, unless it is formally dormant, must appoint a Hong Kong Certified Public Accountant (practising) to carry out an annual statutory audit. The audited financial statements are filed with the profits tax return.
Keep proper bookkeeping and accounting records to make the audit run smoothly. Records must be kept for at least seven years, and our cloud accounting service keeps them audit-ready all year.
9. Renew the Business Registration Certificate
The Business Registration Certificate must be renewed every year before it expires. The IRD sends a renewal demand note about one month before expiry, and payment is required to avoid penalties.
10. Comply with Employment Regulations
If your company hires staff, you must comply with Hong Kong employment law, including:
Issuing proper employment contracts
Enrolling employees in the Mandatory Provident Fund (MPF) within 60 days of employment
Filing the IR56E, IR56F or IR56G forms when employees join, leave or move away from Hong Kong
Providing statutory benefits such as paid leave, rest days and, where it applies, severance pay
Misclassifying employees or breaching labour standards can lead to prosecution and fines. Our cloud payroll service handles MPF and the IR56 forms for you.
11. Keep Track of Deadlines
Set up an internal compliance calendar, or use professional software, to track all the important dates:
Obligation | When |
Annual return (NAR1) | Within 42 days after each anniversary of incorporation |
Business registration renewal | Every year, before the certificate expires |
Profits tax return and audited accounts | First return about 18 months after incorporation, then every year |
Employer's return (BIR56A and IR56B) | Issued each April, filed within one month |
MPF enrolment for new employees | Within 60 days of the start of employment |
Change of directors, secretary or registered office | Filed with the Companies Registry within 15 days |
Being proactive helps avoid penalties and keeps the business running without interruption.
Frequently asked questions
What are the main yearly compliance deadlines for a Hong Kong company?
The NAR1 annual return within 42 days after each incorporation anniversary, the yearly business registration renewal, the audit and the profits tax return. Companies with staff also file the employer's return each April.
When will my company receive its first profits tax return?
Usually around 18 months after incorporation. Bookkeeping should start from day one, because the first return covers the whole period since the company was set up.
Does a company that hasn't started trading still need to comply?
Yes. It must still file its annual return, renew its business registration and keep its statutory records. Unless it is formally declared dormant, it also needs an annual audit.
Can the sole director also act as company secretary?
No. If a company has only one director, that person cannot also be the company secretary. The secretary must be a Hong Kong resident or a Hong Kong company that holds a trust or company service provider licence.
What if directors, shareholders or the address change after incorporation?
Most changes must be filed with the Companies Registry when they happen, not saved up for the next annual return. A change of director, company secretary or registered office must be filed within 15 days. Your statutory registers should be updated at the same time.
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About Woodburn Accountants & Advisors
Woodburn Accountants & Advisors helps international businesses set up and run companies in mainland China and Hong Kong. With more than 30 years’ experience and offices in Shanghai and Hong Kong, our team of chartered company secretaries, certified public accountants and tax specialists has guided hundreds of foreign companies, from first-time market entrants to established multinationals, through company registration, accounting, tax, payroll and annual compliance. We combine large-firm expertise with boutique responsiveness.
Our Hong Kong services: Hong Kong Company Registration · Company Secretary · Registered Office Address · Cloud Accounting & Financial Reporting · Cloud Payroll · Tax & Audit · Employer of Record · Trademark Registration
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