New Hong Kong Company Compliance Checklist | First 18 Months

Incorporation is the easy part. What follows is a rolling set of deadlines that most first-time owners meet only after they have already been fined once. This is the full list, in the order it becomes due.

First week

Collect the Certificate of Incorporation and Business Registration Certificate
Check that the company chops match the registered name exactly
Confirm the registered office address is somewhere mail will actually be read
Store the statutory books and the Significant Controllers Register at the registered office

First month

Open a company bank account. Expect due diligence — business plan, customer contracts, proof of address for directors.
Set up bookkeeping. Chart of accounts, filing structure, receipt habit. See first-year bookkeeping.
Decide your financial year end. It fixes your filing deadline for years to come.
Buy employees' compensation insurance before anyone starts work — it is compulsory.

First 60 days (if you hire)

MPF enrolment within 60 days of the start of employment, for employees aged 18–64 employed 60 days or more
File IR56E within three months of an employee commencing employment
Set up payroll records, leave records and wage payment on time

Ongoing, from day one

Keep accounting records for 7 years — Companies Ordinance s.373 and Inland Revenue Ordinance s.51C; fine up to HK$100,000
Maintain the Significant Controllers Register and keep it available for inspection
Notify changes of directors, shareholders, address or business nature within the statutory window

First 12 months

Obligation	Deadline	Cost / penalty
Annual Return (NAR1)	Within 42 days of the incorporation anniversary	HK$105 on time; up to HK$3,480 if over 9 months late
Business Registration renewal	Annually, per demand note	HK$2,350 (1 year) plus penalty if late
Employer's Return (BIR56A)	Within one month of issue, usually April	Penalties for late or incorrect filing

Around month 18

First Profits Tax Return (BIR51) is issued — typically about 18 months after incorporation
The statutory audit must be completed first, because audited accounts must accompany the return
A first return is generally not extendable, so start the audit as soon as the year end passes

Budgeting the first compliance year

Item	Indicative
Business Registration Certificate	HK$2,350
Annual Return filing (service + registry fee)	From HK$605
Registered office and company secretary	From HK$1,700
Bookkeeping	From HK$900 / year
Statutory audit	From HK$2,000
Profits Tax Return	HK$270
Total	From about HK$7,825

The four most common failures

Missing the 42-day annual return window because the reminder went to an unread address
Assuming a non-trading company has nothing to file — see why the audit is still required
Hiring before arranging MPF and employees' compensation insurance
Starting the audit only after the tax return has already arrived

Want the whole first year handled on one timetable? See our one-stop packages, or call 3687-1127.