Registering a Hong Kong company can provide a window into the international market  and serve as a springboard to enter the mainland Chinese market. Registering  a Hong Kong company is easy to gain international reputation and allows for  free flow of people, logistics, and capital. Currently, registering a Hong  Kong company still has significant advantages. After the successful registration  of a Hong Kong company, it is necessary to do a good job in maintenance, especially  in the annual review process of the Hong Kong company.

Hong Kong company annual audit content
 Hong Kong companies must obtain a new business registration certificate from    the Hong Kong Inland Revenue Department after one year of registration, submit    the annual declaration form AR1 and annual report after the company is registered.    Because the validity period of the business registration certificate is only    one year, it must be obtained from the government every year. If the annual    report and business registration certificate are not submitted to the government    after the deadline, the government will impose fines. The main contents of    the annual audit of Hong Kong companies are:

① Hong Kong company annual inspection: renew the business registration certificate  and obtain a new annual business registration certificate from the Hong Kong  government. This fee is a government fee that fluctuates with government adjustments;
 ② Hong Kong company annual report: renew the registration certificate and print  a set of annual report documents NAR1 annual declaration form according to  the corresponding version required by the registry;
 ③ Renewal of Legal Secretary for Hong Kong Companies: One of the essential  conditions for establishing a company in Hong Kong, with fees charged annually  starting from the second year;
 ④ Hong Kong company registration address fee: One of the essential conditions  for establishing a company in Hong Kong, it is charged annually starting from  the second year.

Latest Policies on Company Registration in Hong Kong in 2020
 The Hong Kong government released the "2020-20" budget on the 27th  of this month, which shows that the fee for registering a business registration  certificate for Hong Kong companies will be reduced from the current HKD2250  to HKD250, and official fees will be directly reduced by HKD 2000. In addition,  multiple policies have been announced to reduce taxes and increase welfare  allowances, such as a 75% reduction in profits tax and salaries tax for the  2018-19 fiscal year.

2020 Hong Kong company annual audit fees
 Many companies handle their annual company audits in Hong Kong through professional    agencies, which include government fees and service fees. Government fees    include registration fees for annual declaration forms and business registration    certificate fees.

After the policy of waiving business registration fees in Hong Kong in 2020,  the annual audit fees for Hong Kong companies have also been correspondingly  reduced. In terms of time calculation, companies registered before April 2020  will enjoy this new policy in the following year, while companies registered  after April 2020 will be subject to the latest adjustment of fees by the Hong  Kong Registry in 2020.

It should be noted that when handling the annual review of Hong Kong companies,  it is necessary to find a professional licensed secretarial service agency.  According to the 2018 Companies (Amendment) Ordinance, secretarial service  companies that undertake business related to registering Hong Kong companies  need to be licensed in order to operate legally and legally. In order to fully  implement this policy, the Hong Kong government has joined forces with various  departments to crack down on illegal activities of operating trusts or company  services without a license.