The Companies Registry saw the number of new companies registered in 2004 swell by 30.99% over 2003. In all, 65,558 new companies registered in 2004 compared with 50,049 a year earlier.

The registry's latest annual statistics show that there were 21,574 more registered companies overall in 2004 than in 2003, bringing the tally to 518,980.

The total number of overseas companies registered under Part XI of the Companies Ordinance stood at 7,279 at the end of the year, 296 more than 2003.

The number of new overseas companies which had established a place of business in Hong Kong and registered under Part XI of the Companies Ordinance in 2004 was 735, a 1.52% increase when compared with 724 in 2003.

The number of charges on the assets of companies received in 2004 increased by 50.45%, to 30,380 from 20,193 in the year before. The number of satisfactions and releases received increased by 43.52% to 21,805 in 2004.

A total of 334 prospectuses, including 174 mutual funds, were registered in 2004, compared with 266 prospectuses, including 120 mutual funds, during the previous year.

The number of documents received for filing during the year increased by 8.59%, to 1,634,452 from 1,505,144. The number of searches on records in microfiche and paper files by the public during 2004 increased by 2.35%, to 1,585,314 from 1,548,891 in 2003.

Computer searches rise 25.62%

The registry's computerised database is becoming increasingly popular. In 2004, the number of searches on the computerised Index of Directors increased by 25.62%, to 153,212. The number of Company Particulars Reports issued increased from 82,616 to 95,518.

The Registrar of Companies issued only 1,474 summonses against companies for breaches of the Companies Ordinance - mainly for failure to file annual returns - in 2004, compared with 1,351 in 2003.