Hong Kong Business Registration Number vs. Company Registration Number
8 minute read
When you’re registering a business, things can get quite complicated. There are always numerous processes to take care of and documents to prepare. And that is if you are lucky.
If you want to run a local limited company in Hong Kong, there are a few steps you need to complete.
First, you need to register with the Companies Registry to get limited company status. Next, you have to register with the Business Registration Office to be able to do business in Hong Kong.
Therefore, your company will have two important numbers: Company Registration Number and Business Registration Number. These two numbers are necessary later on every time you sign legal documents such as when opening a bank account, renting office space or signing a contract.
Nonetheless, the difference between the BRN and CRN often results in confusion. A lot of business owners confuse these two as they are not really sure what each of them looks like and why they exist in the first place.
Luckily, this article will explain everything you need to know about these two important numbers for every company based in Hong Kong.
Overview:
What Is the BRN in Hong Kong?
Just like registering a business and registering a company in Hong Kong are not the same thing, there is also a difference between the business registration number (BRN) and company registration number (CRN).
The CRN is something like your company’s social security number. Along with your company’s name and business registration number, it is one of the most important means of identification for your company.
It serves as an official means of representing your company in future documents and government records. You should be able to find your CRN in the top left corner of the Certificate of Incorporation.
What Is the Business Registration Number?
Every business operating in Hong Kong requires a Hong Kong business registration number (BRN). This number is issued by the Inland Revenue Department (IRD) before a work location can be set up.
It is an 8-digit sequence at the front of your BR certificate number (e.g. 22222222-XXX-XX-XX-X). It is important to note that all the numerals of the BR number are used as an identifier equivalent to the tax identification number for entities.
Why do you need a BRN?
The BRN follows a unique number assigned by the IRD and is actually your tax identification number (TIN). The BRN is important as you will need it when dealing with different government agencies such as filing annual returns. Therefore, the BRN is essential for legal business operations and tax payment in Hong Kong.
Still confused? Our services at Sleek will help tackle all your relevant concerns and processes, making your business incorporation as hassle-free as possible!
Wrap Up
Even though the difference between the CRN and business registration number can be quite confusing, the entire incorporation process doesn’t have to be like that at all.
For a smooth and affordable company registration process, contact Sleek. Our experience and expertise in company incorporation allow us to provide the best services to our clients.
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