Hong Kong Business Registration Number (BRN)
Hong Kong is the hub for many budding businesses. If you are operating a Hong Kong company, you will require many documents to prepare and processes to be taken care of. Obtaining a Hong Kong business registration number is one such thing. This guide provides you all the information about the Hong Kong business registration number and – search. To start with, let us first dive into what a Hong Kong Business registration number is.
Hong Kong Business Registration Number
In case you want to run a business in Hong Kong, there are a few steps to be completed. The first one is to get a Company Registry number. Once you have the CR number, the next step is to go for a business registration number. You must register with the business registration office in order to do business in Hong Kong.
While enrolling in a Hong Kong business, the HKSAR government gives a one-stop joint help by the Companies Registry and the Inland Revenue Department. Any individual who applies to incorporate a local organization or enrollment of a non-Hong Kong organization under the Companies Ordinance will be regarded to have made a simultaneous application for business registration. The Companies Registry will give the Certificate of Incorporation and the Business Registration Certificate in one go.
Different platforms frequently go over similar inquiries from various entrepreneurs throughout the long term, “What is my tax number?” “What is the BR number?” “What is the CR number?” It appears to be that there is considerable turmoil caused by these ID numbers. Today, I might want to explain and clarify further with you.
What is a business registration number in Hong Kong?
A Hong Kong business registration number (BRN) follows an 8-digit succession. Every business in Hong Kong must ensure about one when leading activities. The Inland Revenue Department (IRD) of Hong Kong issues this number. An organization in Hong Kong must have a BRN before a work area can be set up.
Hong Kong doesn’t give TIN for citizens. The most pertinent distinguishing proof comparable to TIN is the Business Registration Certificate number. The BR number follows a unique 8-digit grouping. A business registration number, for example, 70569713–### – ## – #-#, that is given and doled out by the Inland Revenue Department (IRD) at the date of incorporation. This number appears at the Business Registration permit center and under the subheading “Declaration No.” Every business must make sure about one for business activity and IRD tax payment in Hong Kong.
How do I get a business registration number?
A BRN is allocated to any business by the Inland Revenue Department because of the registration process. To enroll, you have to present an application and pay the expense and duty. On the off chance that your application is significant, you will get a Business Registration Certificate, which carries a BRN of the business. Note that neglecting to enroll in a business or abusing some other BRO arrangements can bring about a fine of 5,000 HKD and one year in jail.
A Hong Kong business registration number format includes the first eight digits of the ‘Certificate no.’ on the business registration certificate, for example, 11111111-&&&-&&-&&-&. The rest of the digits and letters encode data significant for the IRD.
Likewise, there is a speedy method to check your BR number online in case you don’t have your BR authentication available. All you need to do is search GovHK Business Registration Number Enquiry. No government charges will be applied for this inquiry. Given below are the steps you need to follow.
Follow the three simple steps below:
Step 1: The first step is to select Direct Business Registration Number Enquiry and Why acquire a Hong Kong business enrollment number?
Step 2: Enter the full organization name and street number territory code and click on the “Submit” button.
Step 3: And you are done! You will, at that point, get your Business Registration number.
The business registration permit must be renewed each year, except if you have decided to pay for a very long time rather than 1. The license must be shown at the address where the business activity occurs and should be delivered for official inspection on request. An approved assessor who is sent by the Inland Revenue Department can enter your office or store to make testing and inquiry as might be essential.
Does every Hong Kong Company have a Business Registration Number?
The next question that arises is whether every company in Hong Kong needs to have a business registration number? If not, who are the ones that do not require one? The answer to this is that it’s impossible for a non-registered company to exist without a business registration number.
The BRN follows a unique number allotted by the IRD and is your assessment distinguishing proof number (TIN). The BRN is significant as you will require it when managing diverse government organizations, documenting yearly returns. Accordingly, the BRN is essential for legitimate business operations and tax installment in Hong Kong.
Hong Kong Business Registration Number Enquiry
One must register their business with the IRD within one month of starting the business, whether they have a company in Hong Kong or not. Your Hong Kong business registration number will be available on your Business Registration Certificate. You may likewise do a Hong Kong business registration number search. You can discover everything about BRNs on the Hong Kong government’s site under the eTax administration segment. Individuals from the public will have the option to enquire about organization BRNs on the eTax administration by contributing the full English or Chinese business name of the organization and its area.
Business Registration vs Company Registration Number
Suppose you want to incorporate a local limited company in Hong Kong or register a company incorporated outside Hong Kong with a business place in Hong Kong; you apply for a new name in the Companies Registry.
In case the application is successful, you will get a Business Registration Certificate alongside your Certificate of Incorporation. The Certificate of Incorporation contains your Company Registration Number (CRN), the 7-digit number at the top left corner.
Business registration and company registration in Hong Kong serve different purposes. They are regulated by various laws and registration systems administered by separate government departments.
Together with the registered name and BRN, the CRN is an essential identification of the company. These identifiers are used whenever you interact with the government or business partners or sign any legal documents. For example, you need them when you are opening a bank account and renting an office.
What is the difference between a Hong Kong business registration and a Hong Kong company registration number?
The main difference between a CRN and a Business Registration Number is in their essential capacities. The CRN can be contrasted with an organization’s Social Security Number. It is utilized as an official method for representing an organization in legal documents and government records. The BRN fills in as a Tax Identification Number and is utilized to recognize a business to oversee the nation’s tax laws.
A company registration number is a unique combination of numbers. It is used to identify your company and check that it is an entity registered with the Hong Kong Companies Registry. As mentioned, the company registration number is automatically assigned by Companies Registry once a company is formed. You cannot select or reserve a particular number. At the same time, you can never change it. Regardless of whether your organization has changed the organization name, nature of the business, or offer structure, your organization enlistment number will consistently continue as before. This is the unique ID that interestingly characterizes the organization.
You will need your company registration number for many events, for example,
- Designating or eliminating an organization chief
- Changing identification or private location subtleties of an organization chief
- Distributing new organization shares/expanding share capital
- Documenting annual return NAR1
- Issuing shared certificate
- Giving profits vouchers
- Getting ready organization goals
- Dissolving an organization
Both the business registration number and company registration number are the “brand” that denotes your organization as distinct, recognized lawfully. You should cite these numbers while connecting with Companies Registry, Inland Revenue Department, and setting up an organization financial balance in Hong Kong.
Register Your Company in Hong Kong
It might get a little confusing to map the difference between the company registration number and business registration number, the entire incorporation process doesn’t have to be like that at all. For flawless incorporation of your company and smooth company registration process, contact Startupr.
Advantages of registering your company in Hong Kong
There are various key benefits of registering your company in Hong Kong. Here are top perks of starting and registering a company in Hong Kong.
- International junction: Being located in Asia’s heart, it is a perfect connecting point for both southeastern and western parts of the world.
- Freest Economy and trade: Hong Kong is one of the most dynamic economies in the world. There is no legal restriction on inward and outward investments, foreign ownership, and foreign exchange controls while setting up a business entity. This allows Hong Kong to be a business-friendly region.
- Hassle-free setup: The next benefit of opening up a company in Hong Kong is that it takes less time to open up a company than other enterprises. Transparency, law, and orders are central to Hong Kong’s success.
- Law and Simple Tax: Taxes are a significant concern for any business. Hong Kong practices a low-rate and straightforward tax system. Its financial management system is also relatively simple and straightforward.
How Startupr can help?
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All these characteristics affect and help business people dispatching and developing fruitful organizations. Feel free to contact Startupr in case you need any help to start your business organization in Hong Kong.