Unique Business Identifier (UBI) In Hong Kong: What’s New And Why It Matters
The Companies Registry of Hong Kong is always working to streamline business registration and management. One relatively recent change is the implementation of a Unique Business Identifier (UBI) for all businesses, which occurred in two phases.
The second phase was implemented on 27 December 2023. Each company should have received an information sheet from the Companies Registry, so the aim of this article is to further explain what is on that flyer.
What Is the Unique Business Identifier (UBI)?
The Unique Business Identifier (UBI) is a unique 8-digit identifier assigned to a business. It simplifies governmental procedures by unifying the Business Registration and Company Registry numbers under a single number.
You may have learned about the new changes upon receiving a letter containing your new UBI in a blue envelope at your company’s address.
What Is My UBI?
All companies registered before 27 December 2023 with a Business Registration Number (BRN) will automatically have a UBI, which is the first eight digits of your Business Registration Certificate Number.
Businesses incorporated on or after 27 December 2023 will have the “No.” from the Certificate of Incorporation or Certificate of Registration of Non-Hong Kong Company set as their UBI.
Companies registered before 27 December 2023 that do not have a BRN will be automatically assigned a dummy BRN based on the previous Company Number (CR Number). The dummy BRN then gets adopted as the company’s UBI.
Local companies without a BRN will have a “C” added before the dummy BRN; if there aren’t enough digits, zeros will be added before the number to make a full 8-digit BIN.
If your company was assigned a dummy BRN, note that this change does not exempt you from the legal requirements of business registration. Companies without a valid BRN do not appear in the Business Register.
How to Find Your New UBI
If your company or subsidiary is registered in Hong Kong, you likely already have access to your BRN. The UBI are the first eight digits.
An easy way to find your BRN is through the Companies Registry e-Services Portal. Open “Quick Search > CR No. / BRN Mapping,” and enter your Company Number to find the BRN. You can also enter your BRN to find your Company number.
In addition to finding your BRN, you can use the Portal to purchase an Information Sheet to obtain evidence of the change. You can also apply for a Letter of Confirmation, found in “Forms > Other Forms,” which costs HK$130.
How Does the Change Affect Your Business?
In practical terms, this change does not have much effect on business owners. If you’re a business owner, you may be required to write your UBI when filling out various forms, such as tax and bank forms, and for similar business activities.
Not sure if this change affects your business?
