Company Registry – Financials and Business Review

Marketing COMPANY SECRETARIAL, Uncategorized

Financial Performance

The Company Registry’s sources of revenue comprise mainly the incorporation of new companies, the registration of annual returns and searches for company information, constituting more than 85% of the total revenue. Over the years, it operates on a self-financing basis and provides funds for its sustainable development.

Business Review

The Company Registry’s services mainly comprise the registration of companies and statutory returns. Also provides services for members of the public to obtain company information held on statutory registers. The licensing of TCSPs is a new scope of services since March 2018.

Incorporation of Companies

In 2018-19, a total of 135,097 new companies were incorporated. Over 35% of the incorporation applications were delivered electronically through the one-stop electronic platform and the “CR eFiling” mobile application.

Registration of Documents

Since the commencement of the TCSP and SCR regimes, there was an influx of documents reporting changes in company secretaries and registered office addresses and the locations of registers. Other documents received by the Registry, including the articles of association, notifications of appointments, resignations and changes in particulars of directors and company secretaries, returns of allotments and annual returns, provide information on different aspects of a company’s operations.

Public Searches

Since the launch of the full-scale Company Search Mobile Service in May 2016, members of the public can enjoy conducting company searches on the mobile platform other than the Registry’s Cyber Search Centre.

Licensing of TCSPs

The new role of Company Registry as the licensing authority for TCSPs. Company Registry set up a new website to provide detailed information relating to the new regime, including external circulars, guidelines, specified forms and frequently asked questions. Applicants for TCSP licences can submit applications as well as other types of applications and documents electronically at the website.

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You may also read: http://centreo.hk/company-registry-failure-deliver-annual-return/

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