Over 72,000 new businesses registered in Hong Kong in H1

Year-to-date there are 1.42 million local businesses registered.

The Companies Registry of Hong Kong said 72,588 local companies were newly registered during the first half of 2023. 

This brings the total number of local companies registered under the Companies Ordinance to 1.42 million year-to-date.

The Companies (Amendment) Ordinance 2023, which allows flexibility for companies to hold general meetings in various ways, came into effect on April 28, 2023. 

It specifically permits fully virtual or hybrid general meetings, enabling companies to conduct their corporate affairs smoothly and effectively based on their specific circumstances and requirements.

Likewise, 422 non-Hong Kong companies established a place of business in Hong Kong and were registered under the Companies Ordinance. 

The total number of registered non-Hong Kong companies reached 14,621 by the end of June 2023.

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During the first six months of 2023, 6,500 charges on company properties were received for registration, whilst 8,314 notifications of payments and releases were received for registration within the same period.

The Companies Registry also received a total of 1.52 million documents for registration during the first six months of 2023.

In the first half of 2023, there were 2.53 million searches of document image records conducted using the Registry's electronic search services.

Regarding the licensing of trust or company service providers, 182 licenses were granted during the first half of 2023. 

As of the end of June, the total number of licensees stood at 6,854.