Important Updates to Specified Forms and Administrative Form in Hong Kong
Recently, the Companies Registry in Hong Kong introduced revised specified forms to facilitate the implementation of Phase 2 of Unique Business Identifier (UBI). As a business owner or entrepreneur in Hong Kong, it is important to stay informed about these changes and comply with the regulations.
UBI is a unique identifier assigned to each registered entity in Hong Kong, aimed at enhancing the transparency and efficiency of the business registration system. Phase 1 of UBI was implemented in March 2018 for new companies, and Phase 2 will cover existing companies and other entities, effective from 27 December 2023.
The revised specified forms are the forms required for business registration and compliance in Hong Kong. The major change in these forms is the replacement of "Company Number" (CRN) with "Business Registration Number" (BRN) as the identifier for companies/entities. This change reflects the implementation of UBI.
In addition to the change in identifier, other modifications have been made to the forms. These include a new structured format for reporting addresses, a revised format for reporting shareholder details, and the addition of fields for the reporting of the Trust and Company Service Provider's license number for company secretaries, among others.
To download the revised specified forms, you can visit the "Forms" section on the Companies Registry's website at www.cr.gov.hk/en/revisedform.htm. The revised specified forms and the administrative form, Form AD, in MS Word format will be available for download from 29 September 2023. Alternatively, you can purchase a complete set of specified forms in CD-ROM or hard copies of individual revised forms at the Registry's office on the 14th floor of the Queensway Government Offices, 66 Queensway, Hong Kong, starting from 27 November 2023.
In summary, staying up-to-date with the changes to the specified forms is crucial for business owners and entrepreneurs in Hong Kong. It is important to comply with the regulations and ensure that you are using the revised specified forms accurately.