Number of registered companies hit 1.3 million in 2022

In 2022, there were 104,120 newly registered local companies.

As of the end of last year, there are already 1,391,678 companies registered in Hong Kong, data from the Companies Registry showed.

Of the total registered, 14,533 are non-Hong Kong companies. Compared to 2021, the latest figure is 1.29% higher.

In 2022, 104,120 local companies and 874 foreign companies were registered under the Companies Ordinance.

"As for the licensing of trust or company service providers under the Anti-Money Laundering & Counter-Terrorist Financing Ordinance, a total of 533 licences were granted, resulting in 6,834 licensees in 2022," the Companies Registery also reported.

The Companies Registry underscored that it "continued to enhance the protection of sensitive personal information while maintaining the transparency and effectiveness of the Companies Register," over the last year. 

"As a result, phase two of the new inspection regime took effect on October 24, 2022, protecting sensitive personal information on the Index of Directors and newly delivered documents," the registry said

"The last phase of the new inspection regime will commence in December 2023 whereby data subjects could apply for protecting sensitive personal information contained in documents registered with the registry," it added.