Hong Kong is now home to nearly 1.4 million companies.
A total of 64,051 new companies were registered in the first six months of 2019 bringing the total of registered firms to 1.38 million, the Companies Registry (CR) announced.
Of the newly registered companies, 23,751 were reportedly filed online with the e-Registry or the CR eFiling mobile application.
The registry also announced that the Non-Hong Kong Companies Regulation will come into operation on August 1. Non-HK companies will be required to disclose their company name, place of incorporation, and member limited liability, so as to align the disclosure obligations of non-HK companies with those of Hong Kong companies.
CR also said that the total number of registered non-Hong Kong companies hit 11,708 by the end of June. As for non-Hong Kong companies that have established a place of business in Hong Kong, the registry disclosed that 907 companies were registered in H1 2019, up from 601 companies in the second half of 2018.
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