Hong Kong Company Registration Number vs Business Registration Number

Hong Kong Company Registration Number vs Business Registration Number

The process of registering a business is often complicated and it entails many tasks and lots of paperwork thereby making it challenging in some occasions. Setting up a local limited company in Hong Kong involves a number of important procedures.

Firstly, you will require registering as a limited company with the Companies Registry. Thereafter, one has to register with the Business Registration office so as to undertake any commercial activity in Hong Kong.

Consequently, your company will be assigned two critical identification numbers: Company Registration Number (CRN) & Business Registration Number (BRN). These two registration numbers are important in any business dealing like opening bank accounts, leasing office space, and formalizing contracts where they are often required.

Business owners tend to confuse the BRN and CRN, despite it being a different thing. It is therefore important to comprehend their appearance and function so as to avoid such confusing.

Fortunately, the objective of this article is to explain everything about these important identification numbers for business in Hong Kong.

What Is the BRN in Hong Kong?

The distinction between registering a business and registering a company in Hong Kong is worth noting as far as the BRN and CRN are concerned.

Think of it as like your company’s social security number. It is among the vital means of identification that the company has with its name and the business registration number. It is the identification, which in the course, it will be used for documentation, including government registers. It is usually found at the top left of the Certificate of Incorporation.

Certificate of Incorppration

Are you thinking of setting up a business in Hong Kong? Our professional team is always ready to answer your questions.

What Is the Business Registration Number?

IRD provides companies with an 8-digit BRN for each business. In Hong Kong, for legal and administrative purposes, BRN is a means of identification of business. Your Hong Kong business must have this number indicated on Business Registration forms and tax returns.

Inland Revenue Department

Source: the Inland Revenue Department

Format of a Hong Kong business registration number: 12345678-XXX-XX-XX-X

It is very easy to obtain business registration numbers in Hong Kong and it can even be done online. Furthermore, business owners can verify their BRN status online to confirm whether it has been accurately given.

Why do you need a BRN?

Your tax identification number (TIN) is the BRN that was assigned by the IRD (Inland Revenue Department). You will require the BRN when dealing with different government agencies like making annual returns, which makes it important. Therefore, the role of BRN is essential in the sense of legal adaptation as businesses are able to pay taxes circumspectly within Hong Kong.

Feeling uncertain? The services of FastLane Group are here to answer all your relevant questions and smooth out the needed process for a proper business incorporation!

How FastLane Group Can Help?

Although it may seem confusing at first to understand the difference between CRN and BRN, the whole incorporation process doesn’t necessarily have to be cumbersome.

To have a smooth and affordable company registration process, contact FastLane Group. Leveraging our extensive expertise and proficiency in company incorporation, we deliver exceptional services to cater to our valued customers.

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