Secretary for Financial Services & the Treasury Christopher Hui today visited the Companies Registry (CR) to inspect its operation.

Mr Hui visited the New Companies Section, the Public Search Section and the Document Management Section at the registry and spoke with staff there to learn about their work conditions and the services that they provide.

He said: “The COVID-19 pandemic has dealt a heavy blow to Hong Kong's overall economy.

“To help enterprises cope with their operating pressure amid the economic downturn, the Financial Secretary announced in the 2020-21 Budget the waiver of registration fees for annual returns, except for late delivery, charged by the CR for two years.

“And with a view to encouraging the wider use of the CR's electronic services, we also propose to reduce the fees payable in relation to the incorporation of companies, including registration of non-Hong Kong companies, through electronic means by 10%."

The Companies (Fees) (Amendment) Regulation 2020 gazetted today will be tabled at the Legislative Council for negative vetting on May 13 for the waiver and reduction to take effect from October 1.

The waiver of registration fees for annual returns will benefit about 1.4 million companies.

Mr Hui added that he was pleased that the CR has been providing electronic services for filing of documents and company searches.

He appealed to the department to adopt wider use of technology, adding that a business-friendly environment is needed more than ever in the process of economic recovery.

Mr Hui also expressed gratitude to CR staff for their dedication in providing public services amid the pandemic.