Reminder: Economic Substance Reporting Requirements for Entities

We remind our clients that all entities registered, incorporated, or continued under the Companies Act, including foreign entities registered under Part VI, the International Business Companies Act, the Limited Partnership Act, or the Exempted Limited Partnership Act, must submit an Economic Substance Report to their registered agent.

Submission Deadline for Economic Substance Statements

According to the 2023 Business Entities (Economic Substance Requirements) Act, entities must submit their Economic Substance Statements within nine (9) months after the end of their financial year. The applicable ESA form can be downloaded via the link.

The next deadline applies to entities with a financial year ending in December, with a submission deadline of September 30, 2025.

To ensure timely compliance, we invite you to submit the completed forms as soon as possible. Doing so will help us process your classification smoothly and avoid any potential penalties.

Submission Deadlines for Economic Substance Statements

Fiscal Year End	Report Deadline
March 31	December 31
June 30	March 31
September 30	June 30
December 31	September 30

Penalties for Non-Compliance

Failure to report or comply with economic substance requirements (if applicable) may result in an administrative fine of $5,000, payable within 30 days. Continued non-compliance may incur an additional daily fine of $500.

If you have any questions or require further clarification, please feel free to contact us at Contact@viss.com.hk. We are here to assist you.