Hong Kong is a thriving financial hub, attracting businesses from all over the world. If you’re planning to set up a business in Hong Kong, you might come across the terms BRN and CRN. Both are important identification numbers that you’ll need to obtain, but what exactly are they, and what’s the difference between them?
BRN, or Business Registration Number, is a unique identifier assigned to a business that’s registered with the Hong Kong Companies Registry. It’s a mandatory requirement for all businesses operating in Hong Kong. The BRN is used for tax and regulatory purposes, and it’s displayed on all official documents, including invoices and receipts.
On the other hand, CRN, or Company Registration Number, is a unique identifier assigned to a company that’s incorporated in Hong Kong. It’s also a mandatory requirement for all companies operating in Hong Kong. The CRN is used for legal and administrative purposes, and it’s displayed on all official documents, including the company’s certificate of incorporation.
The main difference between BRN and CRN is that BRN is for businesses that are registered with the Hong Kong Companies Registry, while CRN is for companies that are incorporated in Hong Kong. If you’re running a sole proprietorship, partnership, or any other type of business that’s not incorporated as a company, you’ll need a BRN. If you’re running a company that’s incorporated in Hong Kong, you’ll need a CRN.
In conclusion, BRN and CRN are both important identification numbers that you’ll need to obtain if you’re planning to set up a business or company in Hong Kong. Understanding the difference between the two will help you ensure that you have the right identification number for your business or company.