Hong-Kong Start-Ups and Company registrations reached record number

Source: Katarina Krempova¸ PKF Malta¸ 31 January 2012

The Hong Kong Company Registry has announced a record increase in the number of start-ups registered in 2011.  The number of start-ups grew by 6.31% over the previous year 2010¸ with a 148¸329 registrations on Registry books.

Furthermore¸ the registry figures also show a positive increase in local companies from 871¸692 at the end of January 2011 to 956¸392 at the end of December 2011. The number of public companies rose by more than 11 per cent and the number of private companies by more than 5 per cent over the year 2010.

Registrar of Companies¸ Ada Chung¸ has communicated the doubling of the average monthly incorporations of around 11¸000 for 2010 what according to her can be a result of the relative robustness of the local economic environment and expiration of the waiver of business registration fees for new companies in August.

Moreover¸ according to the Registry figures¸ 798 non-Hong Kong companies were newly registered under Part XI of the Companies ordinance as having a place of business in Hong Kong. These figures show a certain improvement. In comparison to 2009¸ it was recorded 115 non-Hong Kong companies more and in comparison to 2010¸ 61 companies more over the year 2011.

Ms Chung also mentioned the launch of the one-stop electronic company incorporation and business registration service at the new e-Registry platform that took offf in March as a step forward. She suggests that as a result of this initiative¸ 15¸248 companies had been incorporated online.

Image Source: Mark Evans Tech