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Disclosures and Transparency
As with any reputable jurisdiction, Hong Kong companies are required to file a variety of documents with the Hong Kong authorities, some of which are available for public inspection.
There is a requirement on Hong Kong companies to file an annual Profits Tax Return with the Inland Revenue Department.
Most companies will also have to file audited accounts along with the tax return unless one of the following conditions is met:
- The company's total gross income does not exceed HKD 500,000 in the financial period;
- The company is dormant with no relevant accounting transactions during a financial year;
- The entity is considered a Hong Kong branch of a foreign company, subject to certain conditions.
For private limited companies the tax return and audited accounts are not publically disclosed however Hong Kong companies must also file an annual return with the Companies Registry. The annual return will contain the following information which is available for public inspection: Territorial tax base
- Register of directors*,
- Register of secretaries,
- Register of members,
- Register of debentures,
- Register of charges,
- Register of directors interests in shares and debentures.
* The directors' residential addresses will not be made available for public inspection where a correspondence address has been provided.