On July 18, the Hong Kong Companies Registry released a set of data that went viral in the cross-border business community.

In the first half of 2025,84,293 new local companies were registered, bringing the total number of registered local companies to1,494,806 rooms, both reaching all-time highs. At the same time, 761 non-Hong Kong companies were registered in Hong Kong, bringing the total number of registered non-Hong Kong companies to15,509 rooms...which is also a new record.

On average, more than 460 companies are registered in Hong Kong every day. Against the backdrop of growing global economic uncertainty, this figure represents a vote of confidence from a large number of entrepreneurs, backed by their own hard-earned money.

But the data is only the tip of the iceberg. What really deserves attention is the flurry of projects set to be launched in Hong Kong in the first half of 2025.Three Institutional Reforms—They are reshaping the rules of the game for company registration in Hong Kong.

On May 23, the Companies (Amendment) (No. 2) Ordinance 2025 officially took effect, and Hong Kong officially launchedCompany relocation system(Company Redomiciliation Regime).

In the past, if a company registered in the BVI, the Cayman Islands, or Bermuda wanted to ”relocate” to Hong Kong, it had to go through the process of deregistration followed by a new registration—a time-consuming and labor-intensive process that could also result in a disruption of its legal status.

What about now? You can apply directly to transfer the registration,Retain its existing status as a legal entity...business contracts, intellectual property, and banking relationships can all be seamlessly integrated.

The introduction of this system is a major boon for companies registered in offshore islands but with their actual operational focus in Asia. This is especially true for the following three types of companies:

Cross-border e-commerce sellers:I previously used a BVI company to hold my retail properties and funds, but now I want to return to Hong Kong to take advantage of its more comprehensive banking services and network of tax treaties.

Red Chip/VIE-Structured Companies:Adjustments to the corporate structure are required prior to going public, and the registration transfer system offers more flexible options.

Family Office:Relocate from an offshore jurisdiction to Hong Kong to take advantage of Hong Kong’s tax relief policies for family offices.

However, it’s important to note that relocating a business registration isn’t as simple as ”changing the address.”

Applicants must meet the compliance requirements of the Hong Kong Companies Registry, including submitting a Hong Kong-version amendment to the articles of association and settling any debt obligations in the country of original registration. It is recommended to consult a professional, licensed secretarial firm before proceeding.

If you have already registered a Hong Kong company, please be aware of the following change: Starting in 2025, the government is promoting the use ofBusiness Registration Number (BRN)As the company's sole external business identifier.

In the past, people were accustomed to using the registration number (CR No.) to identify companies, but now we are gradually switching to the BRN—that is, the first 8 digits of the Business Registration Certificate number.

This change may not seem significant, but it actually has far-reaching implications.

Bank account opening:Banks such as HSBC and Standard Chartered have begun requiring BRN numbers instead of CR numbers. If you use the old number to open an account, your application may be rejected.

Tax Filing:The tax bureau's system is gradually transitioning to using the BRN as the primary index; the old numbers will no longer serve as the primary means of identification.

Contract Template:We recommend that the company identification code on commercial contracts signed by the company and on invoices be uniformly updated to BRN.

Cross-border E-commerce:Business verification on platforms such as Amazon and Shopify has also begun accepting the BRN format.

In addition, starting at the end of 2024, the Hong Kong Registry introducedStandardized Industry Classification Codes(Business Nature Codes). Previously, you had some flexibility when filling out the business nature field, but now you must select the code that most closely matches your business from the government’s drop-down list. Entering the wrong code may result in your application being returned, which could delay the registration process.

Starting in July 2025, Hong Kong implemented a measure targeting newly established local companiesRegistration Fee WaiversPolicy.

Newly registered companies that submit the incorporation form (NNC1) electronically are required to pay theFull waiver of the HK$1,720 company registration feeThe

However, this does not mean ”free registration.”

The first-year Business Registration Certificate fee of 1,545 HKD is still required, plus the statutory stamp duty on share capital (0.11% of the registered capital, with a minimum of 30 HKD). The total actual government fees amount to approximatelyHKD 1,575, equivalent to RMBAbout 1,450 yuanThe

This fee waiver is subject to specific conditions: applications must be submitted electronically, an electronic service account approved by the Registry must be used, and the waiver applies only to local limited liability companies.

In addition, once registration is complete, the governmentOnly electronic certificates are issued...Paper copies will no longer be issued. The ”green box” (a paper kit containing the articles of incorporation, company seal, and meeting minutes book) is also no longer provided as standard. If you need physical seals and documents, you can have a secretarial service handle the arrangements for you.

So, if you're planning to register a Hong Kong company,Now is the best timeIt’s unclear how long the HK$1,720 discount will last, so the sooner you register, the sooner you’ll save money.

Taking all of the above policy changes into account, if you plan to register a Hong Kong company in 2025, here are a few points worth keeping in mind:

First, you should check the availability of the name well in advance.

Hong Kong has very strict rules regarding company name duplication checks; a company name cannot be identical to or highly similar to that of an already registered company. We recommend preparing 2–3 alternative names and checking their availability in advance using the Registry’s online search system.

Second, select the industry code in advance.

The new standardized industry classification codes require selection from the government’s drop-down list. We recommend that you clarify your primary business focus before registration and verify it in advance by referring to the latest industry code table.

Third, directors and the secretary must meet the required qualifications.

At least one director must be a natural person (not a corporation) and must provide valid proof of address. If the company secretary is a legal entity, it must hold a valid TCSP license.

Fourth, choosing online registration saves money and time.

Online registration not only qualifies you for a HK$1,720 discount, but the processing time is also much faster than for paper applications—you can typically receive your Certificate of Incorporation and Business Registration Certificate within one business day.

Fifth, registration is just the first step; ongoing maintenance is even more important.

Hong Kong companies are required to fulfill three major statutory obligations each year: filing the Annual Return (NAR1), renewing the Business Registration Certificate, and completing bookkeeping, auditing, and tax filing. Newly registered companies will receive their first tax return within 18 months of incorporation, at which point they must engage a licensed accountant to perform the audit. Don’t wait until you receive the tax return to scramble to get everything done.

The record number of company registrations in Hong Kong in 2025 was no coincidence.

The implementation of the business registration transfer system, the waiver of registration fees, and the transition to electronic registration—each of these measures sends the same message:Hong Kong is making an unprecedented effort to improve its business environment and attract global companies to set up operations there.

For cross-border e-commerce sellers, foreign trade companies, family offices, and mainland Chinese companies looking to expand overseas, 2025 represents a policy window of opportunity for registering a Hong Kong company.

Whether the registration fee waiver will be extended, the approval timeline for the first batch of cases under the registration transfer system, and whether bank account opening policies will be further tightened—these are all sources of uncertainty.

Instead of waiting to see what happens, you should go ahead and register your company now to take advantage of the current policy benefits.

Qicaiying can handle all your subsequent accounting and auditing needs, bank account openings, and ODI filings through a one-stop service.

As a professional one-stop business service platform, Qicaiying is committed to providing our clients with high-quality services, including mainland company registration, Hong Kong company registration, offshore company registration, bookkeeping and tax filing, annual reviews and audits, corporate bank account opening, financial and tax compliance, equity structuring, ODI filing, cross-border e-commerce services, Hong Kong residency, immigration, and study abroad—all designed to support businesses in their global expansion, One-stop business services. Feel free to add me on WeChat (phone number is the same: 18620388671) for inquiries at any time.