Hong Kong New company registration up 11.4%

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Companies Registry statistics released today show 460 new overseas companies established a place of business in Hong Kong, up 45.57% on the same period last year.

The total number of live companies registered at the end of June was 687,865, up 32,827 on the end of 2007. The total number of overseas companies stood at 8,326, which is 245 more than last year's total.

The number of charges on the assets of companies received in the year's first half rose 33.73% to 23,251.

One hundred prospectuses including 34 mutual funds were registered, compared with 132 prospectuses, including 55 mutual funds, during the same period in 2007. The total number of documents received for filing rose 12.03% to 1,041,024.

The total number of summonses against companies for breaches of the Companies Ordinance, mainly for failure to file annual returns was 2,884.

There were 1,023 convictions obtained, compared with 1,111 in the corresponding period last year. The total amount of fines imposed for convictions was $6.54 million compared with $6.17 million last year.