Every Hong Kong company has a set of annual obligations that must be met on time. Missing a deadline does not just result in a penalty -- it can affect your banking relationships, your ability to obtain government contracts, and the good standing of your company. This checklist covers every recurring obligation so you never miss a deadline.
1. Business Registration Certificate (BRC) Renewal
The Business Registration Certificate must be renewed every year (or every 3 years if you opt for a 3-year certificate at HK$5,200). The Inland Revenue Department (IRD) will issue a demand note approximately one month before the expiry date. If you have a company secretary, they typically handle this renewal on your behalf.
The BRC fee is subject to periodic government waivers. In past years, the government has waived the fee entirely or reduced it. Check the IRD website for the latest fee schedule for the 2026/27 year.
2. Annual Return (NAR1) Filing
The Annual Return (form NAR1) must be filed with the Companies Registry within 42 days after the anniversary of the company's incorporation date. It confirms the company's registered address, directors, secretary, shareholders, and share capital. Any changes during the year should already have been filed separately, but the NAR1 serves as an annual snapshot.
Late filing penalties escalate significantly:
| Period of Default | Penalty |
|---|---|
| Up to 42 days late | HK$870 |
| 42 days to 3 months late | HK$1,740 |
| 3 to 6 months late | HK$2,610 |
| More than 6 months late | HK$3,480 |
3. Statutory Audit
Every Hong Kong company -- regardless of size or revenue -- must have its financial statements audited annually by a Certified Public Accountant (CPA) registered in Hong Kong. There is no exemption for small companies, dormant companies, or companies with zero revenue. This is one of the strictest requirements in Hong Kong's corporate regime.
The audit must be completed before the profits tax return (BIR51) is filed, as the audited financial statements must accompany the return. The cost of an audit varies depending on the complexity of your accounts:
- --Dormant company with no transactions: HK$2,000 to HK$5,000
- --Small company with simple transactions: HK$5,000 to HK$15,000
- --Medium company with moderate complexity: HK$15,000 to HK$50,000
- --Large company or complex group structure: HK$50,000+
4. Profits Tax Return (BIR51)
The Inland Revenue Department issues a profits tax return (form BIR51 for corporations) each year. Your first return is typically issued 18 months after incorporation. Subsequent returns are issued annually on the first working day of April.
The return must be filed with:
- --Audited financial statements
- --Tax computation
- --Supplementary forms (if applicable)
Filing deadlines depend on your financial year-end:
| Year-End | Code | Deadline (with extension) |
|---|---|---|
| April 1 - November 30 | N code | May 2 of the following year |
| December 1 - December 31 | D code | August 15 of the following year |
| January 1 - March 31 | M code | November 15 of the same year |
5. Employer's Return (BIR56A)
If your company has employees (including directors who receive remuneration), you must file an Employer's Return (form BIR56A) annually. The IRD issues this in April each year, and it must be returned within one month. The form reports the remuneration paid to each employee during the year, including salary, bonuses, commissions, and benefits in kind.
Even if your company has no employees and the directors are unpaid, you should still complete the return to confirm zero employment payments. Failure to file can trigger IRD enquiries.
6. Significant Controllers Register (SCR) Updates
The SCR must be kept up to date at all times. Whenever there is a change in the company's significant controllers -- for example, a change in shareholding that crosses the 25% threshold, or a change of director who exercises significant control -- the register must be updated within the prescribed timeframe.
Banks routinely request a copy of the SCR during annual account reviews. An outdated or missing SCR can lead to your bank account being frozen or closed. For more details, see our dedicated SCR guide.
7. Record Keeping (7 Years)
Under the Inland Revenue Ordinance, every Hong Kong company must keep sufficient records of its income and expenditure to enable the assessable profits to be readily ascertained. Records must be retained for a minimum of 7 years after the completion of the relevant transaction.
This includes:
- --Books of accounts (general ledger, cash book, journal entries)
- --Bank statements and deposit slips
- --Invoices issued and received
- --Receipts and vouchers
- --Contracts and agreements
- --Payroll records
Failure to maintain proper records is an offence punishable by a fine of up to HK$100,000.
Month-by-Month Compliance Calendar
This calendar assumes a December 31 financial year-end. Adjust dates based on your company's specific incorporation date and year-end.
| Month | Action |
|---|---|
| January | Close financial year-end books. Begin preparing for audit. |
| February - March | Conduct statutory audit with your CPA. Prepare tax computation. |
| April | Receive Profits Tax Return (BIR51) and Employer's Return (BIR56A) from IRD. File BIR56A within 1 month. |
| May | File Employer's Return deadline. Begin preparing Profits Tax Return. |
| June - July | Finalize Profits Tax Return filing (D code: deadline August 15). |
| August | D code Profits Tax Return deadline (August 15). File BIR51 with audited accounts. |
| Anniversary Month | File Annual Return (NAR1) within 42 days. Renew BRC within 1 month of expiry. |
| Ongoing | Keep SCR updated. Maintain accounting records. Report any changes in directors, secretary, or registered address to the Companies Registry. |
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