The Hong Kong Special Administrative Region (SAR) operates as a separate tax jurisdiction from mainland China and retains popularity as a place from which to do business with the mainland.
In Hong Kong SAR a total of 84,996 local companies were newly incorporated under the Companies Ordinance in the first half of 2013 which is an increase of 9.34 per cent from the second half of 2012, according to the statistics released by the Companies Registry on July 14, 2013.In the case of non-Hong Kong companies that have established a place of business in Hong Kong, 352 companies were newly registered under Part XI of the Companies Ordinance in the first half of 2013, down 4.09 per cent from 367 in the second half of 2012. The total number of non-Hong Kong companies registered reached 9,014 by the end of June 2013.
For the implementation of the new Companies Ordinance (CO), the Administration has made various pieces of subsidiary legislation to set out the relevant administrative, technical and procedural matters.
