Companies Searches

Companies Searches | Bestar

Hong Kong Company Search Resources

In Hong Kong, the primary resource for searching for company information is the Companies Registry (CR). The CR provides a central database of all companies registered in the city.

Here's a breakdown of how to conduct a company search in Hong Kong and what information you can expect to find:

1. Companies Registry (CR)

The CR's online portal, the e-Services Portal (also known as the Cyber Search Centre), is the main platform for conducting searches.

• What you can search for:

  
  

  • Company name and registration number.

  • Date of incorporation.

  • Current legal status (e.g., active, dissolved).

  • Registered office address.

  • Details of directors and company secretary.

  • Information about share capital and shareholders (with some limitations for privacy reasons).

  • A list of documents filed with the Registry (such as annual returns, charges, and mortgages), which you can often purchase for more detailed information.

    
    

• Key identifiers:

  
  

  • Company Registration Number (CRN): A unique identifier assigned by the CR.

  • Unique Business Identifier (UBI): A newer 15-digit number that became mandatory in late 2023, designed to streamline identification across different government databases. It has replaced the use of CRNs and BRNs for many searches.

2. Business Registration Office (Inland Revenue Department)

The Business Registration Office, under the Inland Revenue Department (IRD), is another resource, especially for sole proprietorships and partnerships that may not be registered with the Companies Registry.

• What you can search for:

  
  

  • Business Registration Number (BRN): You can use the IRD's online service to search for a BRN by entering the full business name and location.

  • This is useful for verifying the legitimacy of a company.

3. Other Useful Resources

Depending on the type of company you are researching, you may also want to use these sources for a comprehensive search:

• Hong Kong Stock Exchange (HKEX): For information on listed companies, including corporate announcements, annual reports, and other disclosures.

  
  

• Securities and Futures Commission (SFC): For details on licensed financial institutions and professionals.

  
  

• Intellectual Property Department (IPD): For trademark searches to ensure a business name or logo is not already in use.

Why Conduct a Company Search?

Company searches are crucial for various purposes, including:

• Due diligence: Verifying a potential business partner, supplier, or client's legitimacy.

  
  

• Risk assessment: Avoiding scams and making informed decisions before investing or signing contracts.

  
  

• Compliance: Ensuring a company adheres to legal and regulatory requirements, such as anti-money laundering (AML) and know-your-customer (KYC) regulations.

  
  

• Business planning: Checking for name availability before registering a new company.

Fees Associated with Company Searches in Hong Kong

The fees vary depending on the specific service you are using and the type of information you are trying to access.

Here is a breakdown of the typical fees, primarily from the Companies Registry (CR) and the Inland Revenue Department (IRD).

Companies Registry (CR) e-Services Portal

The CR's Cyber Search Centre charges for most of its services.

• Company Particulars Search: This is a common search to get basic information about a company. The fee is HK$22 per company for a search that provides details like the company name, status, and address.

  
  

• Directors Index Search (Company-based): If you want to see a list of a company's directors, the fee is HK$11 per company.

  
  

• Directors Particulars Search: To get specific details about a director or reserve director, the fee is HK$11 per person.

  
  

• Document Image Records: The most detailed information is found in the image records of documents filed with the Registry (e.g., annual returns). The fee for a document image search is HK$11 per document.

  
  

• Registration as an Online User: If you plan to conduct frequent searches, you can register for an account. A principal account costs HK$500 per year, with subsequent accounts costing HK$100 per year. This allows you to pay using a prepayment account.

  
  

Business Registration Office (Inland Revenue Department)

The IRD handles business registration, which is mandatory for all businesses, including those registered with the Companies Registry.

• Business Registration Number (BRN) Enquiry: The online search to find a BRN by company name is free of charge.

  
  

• Extracts and Certified Copies: There are fees for obtaining official documents from the Business Register, such as:

  
  

  • Uncertified extract of information: HK$27

  • Certified extract or certified copy of a Business/Branch Registration Certificate: HK$27

Hong Kong Stock Exchange (HKEX)

For listed companies, a lot of information is publicly available for free on the HKEXnews website, including company announcements, financial reports, and circulars. However, real-time market data access and certain other services may have fees, particularly for professional users.

Bestar Professional fees

"Professional fees" for company searches in Hong Kong refer to the charges from third-party service providers, such as Bestar, who conducts searches on a client's behalf. These fees are separate from the government fees charged by the Companies Registry (CR) and the Inland Revenue Department (IRD).

1. Factors Influencing Professional Fees

The cost of a professional company search can vary widely depending on several key factors:

• Scope of the search: A basic search for a company's name and address is much cheaper than a full-scale due diligence report, which might include a detailed analysis of all filed documents, director and shareholder history, and charges against the company.

  
  

• Level of detail required: A client might need an "opinion" letter from a lawyer confirming a company's legal status, which is a specialized service with a higher fee.

  
  

• Additional services: Bestar offers packages that bundle company searches with other services like company formation, ongoing compliance, or annual return filings.

  
  

• Urgency: Expedited searches for time-sensitive matters may incur a premium.

2. Fee Structures and Estimates

Bestar professional fees are generally structured in one of three ways:

• Fixed-fee packages: Bestar offers a single price for a specific search package. For example, a basic company search and report costs anywhere from HK$500 to HK$2,000. More comprehensive packages for due diligence could range from HK$3,000 to over HK$10,000.

  
  

• Hourly rates: For complex or in-depth investigations, Bestar charges an hourly rate. These rates can range from HK$1,000 to HK$5,000 or more per hour, depending on the firm's seniority and specialization. A simple legal opinion on a company's compliance might cost around HK$25,000.

  
  

• Disbursement fees: In addition to our professional fees, Bestar will also pass on the government search fees as disbursements. For instance, a fee of HK$22 for a Companies Registry particulars search or HK$11 for a document image will be added to the final bill.

3. Example Scenarios

To illustrate the difference between government fees and professional fees, consider these examples:

• DIY Search: An individual wanting to check a company's basic information can do so directly on the Companies Registry's e-Services Portal. They would pay the government fee of HK$22 for a Company Particulars search.

  
  

• Professional Search: A business hiring Bestar to perform due diligence on a potential partner. Bestar will conduct multiple searches, review all public documents, and produce a detailed report. The final invoice would include the cumulative government fees for all searches (e.g., HK$22 per company particulars search + HK$11 per document image record) plus the professional fee, which might be a fixed rate of HK$8,000 for our time and expertise.

How Bestar can Help

Navigating the Hong Kong Companies Registry and other government databases can be a complex and time-consuming task, especially for those unfamiliar with the local system. This is where professionals — such as Bestar — offer significant value.

Here's how Bestar can help with company searches in Hong Kong:

1. Expertise and Knowledge of the Legal and Regulatory Framework

• Comprehensive Search: Bestar goes beyond a basic company search. We can conduct a thorough due diligence process that involves searching multiple databases, including the Companies Registry, Business Registration Office, Land Registry, and even the courts for litigation records.

  
  

• Up-to-Date Information: Hong Kong's regulations, such as the Companies Ordinance and the new Unique Business Identifier (UBI) regime, are subject to change. Bestar stays abreast of the latest legal requirements and can interpret the search results in the context of these regulations.

  
  

• Interpretation of Documents: Simply obtaining a document from the Companies Registry is only the first step. Bestar can analyze and interpret complex filings like annual returns, charges, and mortgages to uncover critical information about a company's financial health, ownership structure, and potential liabilities.

2. Time and Resource Efficiency

• Streamlined Process: Bestar has established processes and software to conduct searches efficiently. We can quickly access and retrieve the necessary documents, saving you valuable time and effort that can be better spent on your core business activities.

  
  

• Reduced Administrative Burden: We handle all the administrative tasks, from paying government fees to downloading and organizing the documents. This is particularly helpful for businesses located outside of Hong Kong that may not have a local presence.

  
  

• Avoiding Errors and Delays: Mistakes in the search process can lead to inaccurate information or wasted time. Bestar's expertise ensures that the searches are conducted correctly and the information is reliable.

3. Risk Mitigation and Due Diligence

• Verifying Legitimacy: A key reason for a professional search is to verify the legitimacy of a business partner, supplier, or client. Bestar can identify red flags such as frequent changes in directorship, a history of winding-up orders, or overdue filings that might indicate a high-risk company.

  
  

• Compliance with KYC and AML: For businesses, particularly in finance and professional services, conducting Know Your Customer (KYC) and Anti-Money Laundering (AML) checks is a legal obligation. Bestar provides the necessary reports and documentation to ensure you are compliant with these stringent regulations.

  
  

• Adverse Media and Litigation Checks: Beyond the official registries, Bestar can conduct a wider search for any negative news, regulatory sanctions from bodies like the Securities and Futures Commission (SFC), or ongoing litigation that could affect the company's reputation and stability.

4. Broader Corporate Services

• Integrated Solutions: Bestar offers company searches as part of a larger suite of services, including company formation, ongoing compliance, accounting, and annual return filings. This allows for a one-stop-shop solution.

  
  

• Advisory Role: Bestar can act as a strategic advisor. For example, if you are planning a merger or acquisition, a thorough due diligence report from a professional can be a cornerstone of your decision-making process. We can provide professional opinions on the target company's status and advise on any risks.

  
  

In summary, while a basic company search can be done independently, engaging a professional is essential when you require more than just basic information. Our expertise provides a comprehensive, accurate, and risk-mitigating service that can be critical for making sound business decisions.

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